Understand why a Fintech can help with consumer financial freedom

In Brazil, having a traditional bank account is expensive. High tariffs, low yields, diverse fees and bureaucracy keep a large part of the citizens from this model of institution. Fortunately, many Fintechs like virtual wallets are revolutionizing the Brazilian financial market. In addition, having a virtual wallet can help the customer to save money.

It is estimated that there are around 45 million unbanked people in the country. However, this public moves more than 800 billion reais a year. For every three economically active people, one does not have or does not operate bank accounts.

We can say that the unbanked public is formed both by people who perform informal economic activities, which are increasingly common in Brazil, and by individuals who refuse to link their financial activities to traditional banks, because they are unhappy with how things usually work. in these companies.

In view of this scenario, several alternatives for the movement of values ​​called Fintechs have emerged, with the objective of meeting the demands and desires of this immense consumer market.

A good virtual wallet gives access to products like credit card and online shopping

An e-wallet service, or virtual wallet, allows financial transactions such as purchases, withdrawals and transfers between accounts, in an agile, unbureaucratic and reliable way.

Pay4Fun  is a payment technology company that offers its customers several types of transactions with security.

In addition, the company offers several other services that would be difficult to access in a traditional bank. An example is the Pay4Fun Card, which has the Mastercard banner. The customer does not pay an annual fee, being only responsible for a small cost of generating and sending the card.

The card user can transfer the balance of his virtual wallet directly to the Pay4Fun Store and use it in any type of commercial establishment, whether in physical stores or online, in Brazil or anywhere in the world.

The company also offers a virtual store called Pay4Fun Store. Through the platform, the customer can use his virtual wallet to acquire credits in the most diverse types of services such as phone recharges, entertainment, TV and transportation. Some of the stores available at Pay4Fun Store are Uber, Claro, Sky, Tim, Vivo, among others.

PIX is also available in virtual wallets

PIX, the technology of the moment in Brazil, is also available to users of virtual wallets. That is, it is not necessary to be linked to a traditional bank to enjoy the benefits of PIX.

Through Pay4Fun’s virtual wallet, it is possible to make both deposits and withdrawals using the PIX. And, as we already know, the PIX does not incur the collection of fees or a minimum limit on the value of transactions.

Many customers may be wary of the security of e-wallet services. Therefore, it is important to know that this category of company is extremely committed to the reliability of its customers’ operations and data.

Regarding the PIX, all institutions must comply with a series of procedures required by the Central Bank of Brazil. The PIX has the same security protocols as the National Financial System that are already used today for TEDs and DOCs.

In addition, platforms such as Pay4Fun also have security layers such as biometrics, facial recognition, authentication encryption.

Both authentication and encryption must be adopted by the financial agents participating in the PIX, to avoid fraud and financial losses to users. Pay4Fun adopts all the security measures proposed by the Central Bank of Brazil.

This is all just the beginning. The services offered by virtual wallets will become increasingly comprehensive, causing more and more customers to migrate from the traditional banking market to them, which will ensure the existence of Brazilians in the country’s formal financial system.