PicPay users will now be able to buy foreign currencies, as well as send and receive money from overseas accounts. The new services are offered in partnership with Câmbio Online, a company that is part of the Frente Corretora de Câmbio. The executive responsible for payments and financial services for the PicPay digital wallet, Francisco Santos, said:
“Our users can now solve their entire financial life with PicPay, now we will make even their international financial life easier with our app.”
The new functionality is gradually being made available to all users who have a complete registration in the app and will be visible on the Wallet tab, in the “exchange” option. Users will be able to purchase paper money from more than 20 countries with delivery by delivery or withdrawal at ATMs for US dollars and euros, and pay with the balance in their wallet, on the card in cash or in installments.
The process of sending money to another country is also initiated within the PicPay application and is then directed to the Câmbio Online platform, where the user must fill in the desired amount and select the country of destination. The simulator will then show the converted value and then just finish the transfer. To receive from abroad, simply inform the payer of the IBAN number (international bank account number) that will appear in your name in the Câmbio Online registration.
The PicPay initiative, the largest payment app in the country, follows the resumption of tourism and exchange rate fluctuations, which have led to high demand, especially for the dollar and euro, in recent months. According to Frente Corretora, this year alone, there was an increase of more than 300% in demand compared to December, reaching the highest level since the beginning of the pandemic.
PicPay’s goal is that its millions of users can take advantage of this resumption with practicality and security. Santos explains that foreign exchange and international transfers have always been seen as complex, expensive and distant from many Brazilians, but that can be solved in a practical and hassle-free way. According to the executive:
“With this novelty, our users will see that they can buy currency, pay and receive from abroad quickly, simply and with many possibilities.”
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