PIX: the consumer has changed! Your business needs to change too!

58% of Brazilians intend to use instant digital payment methods in the next five to 10 years! Yes, the “Consumer of Tomorrow” survey – carried out by Mosaiclab in partnership with Toluna in November 2020 – shows that almost 2/3 of the country's population will surrender to PIX payment or similar methods in the near future. 

In effect for almost a year, PIX has changed consumer behavior and, consequently, influenced business transformation. Now, it is necessary to be prepared for this new demand: offering this method can be the difference between closing a purchase or not. 

But what does your SAP have to do with this? These are some of the insights we will bring in this text! 

Happy reading! 

But, after all, what is PIX? 

It is an instant means of transferring funds, which can be used to make or receive payments, created by the Central Bank of Brazil. In force since November 2020, it allows the transaction to take place in seconds even outside business hours. 

New habits 

With the coronavirus pandemic, some trends that already existed were accelerated. The abandonment of cash and the adoption of virtual transactions was one of them. According to Kantar IBOPE Media, in 2020, the use of paper money fell by 11%. 

Another interesting piece of data comes from a survey conducted by Bain & Company, which interviewed 250,000 people. Of those interviewed who already use PIX, 63% reported an increase in satisfaction with their financial institutions. 

Why do businesses need to adapt? 

Customer loyalty depends not only on the quality of the product or service that companies offer, nor just on the price, but also on the experience during the purchase. 

Offering the option to pay via PIX can be the difference that makes a consumer choose to buy from one brand over another. This method is present in transactions not only in physical stores, but also in electronic stores. And we wouldn't be surprised if it became popular in B2B transactions as well. 

And what about my SAP? 

Perform bank reconciliation through a native SAP Business One module, such as BankPlus, allows you to control your cash flow. But how do you control instant digital payments? 

With this in mind, we created a new feature in our banking module, so that payments received and made via PIX, for example, are already accounted for. 

In addition, we created the PIX bill payment function, which is already available to customers of some partner banks. With it, it is possible to generate bills and, instead of a barcode to be paid by direct debit, a QR Code is generated to be paid via instant digital payment. 

Soon, we will have even more news about the functionality, after all, by offering our users and partners the latest in the financial sector, we help to generate even more value! 

Want to know more details about the PIX Functionality?

Talk to our team of experts now!