Nubank launches a debit card, withdraws and receives the endorsement to become a financial institution

SÃO PAULO – By examining clients without credit approval, Nubank launched on Tuesday the arrival of the debit card after obtaining permission from the Central Bank for [19659003] The same card used for the credit will offer this feature and will also allow withdrawals, for a fee of R $ 6.50 for use in 24-hour network boxes.

"The service is the only thing for which we could not do a miracle … we have this cost in 24 hours and we preferred to transfer it completely so that the customer can apply hidden tariffs on other fronts, "said Cristina Junqueira. President of the company. "In the offline world, we will never be very competitive," he added.

Initially, 10,000 selected customers will be able to use the new contactless card as debit and withdrawal.

The function will now be published little by little, which means for Nubank the real possibility of becoming the exclusive financial institution of its most loyal customers. The goal of the company is to make the throughput available to all customers in the first half of next year.

Since October, customers who have received the new version of the purple card have noticed the "debit" option at payment terminals, but they could not use it. The application fintech sent messages asking for patience to customers who were trying, and the company even confirmed the ability of the contactless card to do so on social networks.

"Many of you have been asking for years," he said in a presentation. the press and customers, the president of the company, David Vélez. There are currently approximately 2.5 million NuConta customers, some of whom have no credit approval. According to Vélez, it is the largest digital account in Brazil, and the goal is to reach tens of millions of people, including the 20 million who have tried, but n? have not got the credit approved by fintech.

Two months ago, fintech announced that it had reached 5 million card customers. In January, President Michel Temer issued a decree already authorizing Nubank to own financial companies, which led to the creation of one encompbading high-risk credits, such as the financing of vehicles for sale. opportunity and agreements with commercial establishments. With the permission to operate as a financial institution, Nu can make personal loans, for example, in addition to other retail banking services.

Next Steps

According to Junqueira, Nubank's priority is always to attract customers with simpler needs. To this end, debit and withdrawal were more important than sophisticated functions, such as mortgage and other types of investments that were more robust than Nuconta. The consumer and the savings, a group representing 100 million Brazilians, are the most important at the moment.

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