the platform PicPay receives authorization from the Central Bank to increase its budget by R$150 million. PicPay is one of the main digital payment platforms in the country and the new increase comes to meet the investment plan, which will bring growth and stability to users. With this increase, the company's capital could reach R$ 3.359 billion. In addition, the company starts the creation of a Fintech.
PicPay receives investment and capital exceeds R$ 3 billion
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PicPay recently received authorization from the Central Bank to increase its capital by R$150 million. In a note, PicPay told the press: “the capital increase was made to support the investment plan focused on growth and profitability, an agenda already started in 2022, and reiterates the confidence of shareholders in the development of the business".
Transition to Fintech
An investigation carried out by the Valor portal revealed that J&F, which manages both PicPay and Banco Original, is transferring the Bank's retail portfolio to Fintech. Fintechs are companies that have a completely digital product.
Currently, the company has around 32 million active customers and, in 2022, merged Banco Original and PicPay.
With the authorization of the Central Bank, PicPay Bank was created, a company founded by the union of a digital platform and a bank, which had BRL 19 billion in capital.
open finance
It was announced that the company will enter the open finance. It is a system for sharing bank data between PicPay and other banks.
It is worth remembering that PicPay has already received authorization from more than one million customers for this. In this way, the company will be able to act as a payment initiator.
In practice, this allows transactions like Pix, using the app's own balance. This novelty will bring more practicality to users, allowing more uses for the balance of the application.