NuPay: what it is and how it works

Nubank is a fintech that offers a digital bank account and various financial services, such as loans, cards and wire transfers. Recently, the company launched a new tool called NuPay, which can facilitate online payments. Learn more below.

What is NuPay and how does it work?

NuPay is a fintech application tool from Nubank and was developed to make online shopping even easier in a simple and objective way. Instead of using their card details on a website, the user selects the “pay with Nu” option – the setup will redirect them to the fintech application, where the payment will be made.

According to the financial institution, the transaction is completed in seconds, as fast as paying with credit cards. At the time of payment, the user also chooses the location in which to debit the money, to credit or to the balance of the account. For those who choose the credit option, it is possible to pay the purchase in a maximum of 24 installments at selected stores and still enjoy an extra limit for purchases.

Which stores accept NuPay?

Currently, the primary place where NuPay is accepted is within the Nubank store. It can be accessed within the application itself. In addition to Nubank, the following stores already accept the payment method: Mobly, Cobasi, Level Up!, Consul, Wella, Dior and many others. You can check out the full list by clicking here.

It is worth mentioning that if you are on your computer and decide to choose the NuPay option, the application will issue an appropriate notification to complete the transaction.

How to use the extra limit on online purchases?

This feature is still in the testing phase, but consists of adding a limit to your credit when using NuPay. In other words, instead of charging the purchase amount to the credit card limit, fintech will give the customer the option to extend the limit and use it to make the purchase.

Once the test phase has been completed, the user will have access to this function after a specific credit analysis. The extra limit may only be available for specific purchases.

The post NuPay: What it is and how it works first appeared on Olhar Digital.

Source: Olhar Digital