Pix Parcelado is a Pix modality provided by financial institutions such as banks and electronic wallets, which allows consumers to make purchases in online and physical commerce by paying in installments.
HOW DOES THE INSTALLMENT PIX WORK?
The feature works like this: the consumer enters your virtual store, puts a product in the cart and, when paying, chooses the Pix Installments option in the app of the financial institution where he has an account. Afterwards, the payment is made in cash to you, the merchant, which avoids default.
Thus, of the total purchase, the consumer pays a portion, while the financial institution completes the amount immediately. Afterwards, the consumer will pay the credit granted to him by the financial institution in installments with interest. It can be paid in 12 to 24 installments.
It is important to remember that Pix Parcelado is similar to Pix Garantido, which is expected to be implemented in 2023, but it is not the same thing. While Pix Installments can be provided by common financial institutions, Pix Garantido will be an official resource from the Central Bank.
In any case, Pix's new features contribute more and more to this means of payment surpassing resources such as debit, boleto and digital wallets, and may soon exceed the use of credit cards.
GROWTH IN PIX USE IN BRAZILIAN TRADE
The Central Bank launched Pix in November 2020 at a cost of $4 million and since then this new payment method has only grown. According to a study by Gmattos consultancy with 59 virtual stores from different segments, Pix gains exponential popularity.
According to the study, Pix was accepted by only 16,9% of establishments in January 2021. Now, however, since May 2022, it has passed to an acceptance of 74,6%. Thus, this method of payment surpassed debit and digital wallets, trailing just behind bank slips (76,3%) and credit cards (96,3%). For GMattos consultants, Pix can reach 91% acceptance in the long term.
However, most of the time, Pix acceptance depends on a little push from the shopkeeper. That is, the shopkeeper needs to clearly offer payment with Pix and with its modalities such as Pix Installments, for example. In this way, more and more consumers will be able to adhere to this resource, generating benefits both for consumers and for you retailer.
HOW TO IMPLANT THE PIX IN INSTALLMENTS?
Given that Pix Parcelado is offered by financial institutions such as banks and electronic wallets, the shopkeeper cannot implement the feature in his virtual store. Instead, the retailer should encourage the consumer to use this payment method.
For example, you can leave a notice in your ads and/or on your product page informing that the consumer can choose to purchase with Pix Parcelado if he has an account with institutions such as Nubank, Santander and Mercado Pago, among others, which already have offer the feature.
In fact, according to research by Fiserv , 66% of consumers consider Pix secure, while 57% trust cash and barcode payments more, and 56% trust chip cards at point-of-sale terminals. In other words, Pix is already the consumer's preferred method. Now it's up to you, the retailer, to do your part and clearly offer Pix and Pix installments in your online store. Make it happen!
As soon as you can, click on “ Pix VTEX ” and learn how to set up the feature in your online store!
