PicPay Store Nearly Triples In Size And Adds Cashback In Stores | Business

Oh PicPay announced this Monday (23) that his shop, the PicPay shop, has more than doubled in size in the first half of 2021, expanding the offering in collaboration with more than 30 companies in its market. The platform was responsible for over 20 million transactions over the period, which is 2.6 times more than the same period of the year in 2020, and has now launched cashback for purchases on partner sites in August.

Payments in the palm of your hand (Image: PicPay Facebook / Disclosure)
PicPay on smartphone (Image: PicPay Facebook / publishing)

Among the shops available at the PicPay Store are Casas Bahia, Ponto, Polishop and Positivo. Customers can also access services such as mobile top-ups and gift cards through the platform. In all, there are more than 60 partners.

According to fintech, the PicPay Store made purchases from over 6 million unique users from January to June 2021. Over the period they were responsible for a total payment volume (TPV) of R $ 417 million.

PicPay is about to become “superapp”

Created in 2020, PicPay Store is one of PicPay’s strategic actions to become a “superapp”, that is, a platform that offers various services, from money transfers to purchases. Competition in the sector is not weak: the company will have to compete on the market with Mercado Livre and Magazine Luiza.

But the start was a big acceleration for PicPay: the company recorded an increase in revenue at the Store, reaching 18.4 million in the first half of 2021. This is a 185% increase over the same period in 2020. . -commerce, together with the financial market and Business & Acceptance strategies, today represents 17% of the company’s turnover.

In interview with ExaminationPicPay Store Senior Director Fábio Plein said the company’s goal is “to be the fastest and most accessible way for users to shop on their mobile device.” Plein points out that because transactions are integrated into the PicPay ecosystem, there is the potential to offer perks and benefits.

PicPay Store does not allow cashback withdrawals

PicPay Store cashback, launched in August, allows users to get up to 13% cashback, depending on the facility.

The mode works with any payment method and the accumulated value can be used across the entire app ecosystem, for purchases, bill payments or even transfers via Pix. However, withdrawals are not possible.

According to the company, for the second half, the goal is for the PicPay Store to integrate new e-commerce.