which one is more worth it?

Since its launch in 2020, Pix has consolidated itself as one of the main forms of payment among Brazilians, displacing operations such as TED and DOC.

Thus, the tool has been bringing more and more ease to the public and the financial market. Among the latest innovations, we now have Pix in installments, which allows consumers to pay in installments with the same security as cash payments.

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However, many wonder which modality is more worthwhile. It is worth mentioning that the dispute between Pix, TED and DOC was relatively easy to resolve. But competition with the credit card can be a little more fierce, as both options have interest.

In an interview with E-Investidor, Matera’s CEO, Carlos Netto, points out that the new installment method is being developed with the intention of being more attractive than cards, however, he indicates that it is still necessary to observe how the market will format these products.

“Whoever has a card and can buy a product for 10 installments of R$100 will not want to pay 10 installments of R$105 at Pix in installments. If the market launches a product that generates more expensive installments, this will only serve the user who does not have a credit card and then, in this case, it will not be a hit. But there is a chance that Pix can generate installments with the same amount of installments on a credit card and still generate more benefits for the payer, such as more miles, for example,” he said.

Financial institutions are already joining Pix in installments

Although the Central Bank is still planning to make Pix available in installments in the second half of 2021, some banks and digital wallets already offer the modality.

Santander was the first among the big banks to offer the option of installment payments through the functionality called “Divide o Pix”.

To split purchases, it is necessary to have the amount available in an account or a credit in the amount of the transfer. Then, you select the due date and the amount of installments, available in up to 24 installments.

However, the installment amount is from R$100 and the minimum installment amount is R$5. As for interest, the bank charges the IOF (Tax on Financial Operations) and 2.09% per month with up to 59 days to start paying.

In addition, fintechs such as Mercado Pago and PicPay also offer payment via Pix. At PicPay, you can pay for purchases by “Pix with Card” in up to 12 installments. The fees charged are 3.99% per installment.

In Mercado Pago, installments with the “QR Pix” can only be carried out by users who have a personal loan line available. In these cases, it is possible to pay the amount in up to 12 installments, charging interest of 2.5% per month and IOF.

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Image: Leonidas Santana / Shutterstock.com