The credit card’s days are numbered: Consumers will be able to make installment purchases through Pix, says Campos Neto

The consumer will soon be able to make purchases in the function credit via pixThis Friday (11) the head of the Central Bank (s. Roberto Campos Neto. Instant Transfer will eliminate the need for a credit card.

“You’re going to combine Pix with other products, remembering that you’ll be able to start getting credit on Pix so, at some point in the future, you won’t need a credit card, and you’ll be able to do everything on Pix,” Campos Neto said this afternoon in a press release. An event in Curitiba promoted by the Paraná Trade Association.

Enough of many banking applications

The BC boss also promised a financial aggregator, an app that aims to centralize banking products and services in a single environment. “In the financial aggregator, you no longer need to own an app [aplicativo] per bank. You only get one [aplicativo]which will focus all products with real-time portability and competitiveness,” he announced.

In the morning, in a lecture to businessmen from Paraná, Campos Neto said that the central bank intends to offer consumers more choice in accessing credit purchases.

Launched by BC in 2020, Pix is ​​being tested, an instant transfer system, with other features, such as scheduled operations and recurring payments. BC is also studying the possibility of using Pix for international transactions.

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End of revolving credit card

At the same event in the morning, the head of BC said he was “bitten” to inform him that the body was considering the end of the credit card cycle. Campos Neto indicated that the proposal is still under study and has not been closed.

“Our idea was to come up with a plan that includes having an installment plan, that is, not having a revolving plan, in a way that enables us to balance product numbers. We don’t have the details. I took an ear tug after I spoke. In the coming days we will have a more decisive formula,” he explained.

The statement was made about Rotary on Thursday (10) at a public hearing in the Senate. The BC president did not say who reprimanded him. He said only that he is discussing the idea with the Ministry of Finance, with financial institutions and business associations.

On the second last day, Finance Minister Fernando Haddad said that interest on the revolving credit card would fall, but rates should remain high until the government reached an agreement with banks and a “healthier system”. According to the minister, the reduction will be gradual.