What is installments Pix anyway? This is the main doubt of consumers, and basically it will work as a personal credit style, which will be divided into installments with interest accruals, so that the client will be able to know the final amount.
What this article covers:
What is Pix installments?
Pix in installments is a model similar to personal credit, as there is a request for X amount by the customer for a given bank. In this case, it is a clear request for an advance of that amount, which enters into an agreement to be paid in installments and interest.
How does Pix installments work?
The Pix in installments, unlike a traditional personal loan/credit or shopping at stores, will present the customer with the interest rates that will be charged. Normally, this information refers only to the sellers of stores or banks.
In this case, you as a customer will be able to get a better sense of how much interest will be charged and whether it really pays off to ask for the Pix in installments. Think that it will be possible to have full control of the Pix than in traditional loans or installments.
How to use installments Pix?
Installed Pix can work in different ways when making the purchase. Some banks opt for payments via QR Code or Pix Copia e Cola to make installment payments possible.
Other banks allow the customer to use the tool in any transaction that uses the app, regardless of whether the seller is an individual or the payer.
Who uses this modality?
Mercado Pago makes it possible to use the tool for payments made by QR Code or Pix Copy and Paste. PicPay allows the customer to pay via credit card. In the case of Santander, it is possible to take advantage of all transactions that require the application to be paid in installments.
Do you have interest?
Interest at Banco Santander is only 2.09% per month. Mercado Pago charges a percentage of 2.5% and PicPay is the one with the highest rates, 3.99% per month.
Currently, many small businesses and young consumers have adopted Pix in installments to pay for their purchases, and of course, offer them to customers who choose this payment method.