Nubank offers installment plans for cash purchases
Nubank has released a new feature for Brazilians who use the fintech's credit card. The new feature allows you to pay in installments for individual purchases, even those made in cash using your credit card. This is because the installment payment process is done through the app itself.
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This way, bank users can pay in installments for a specific purchase they made on their statement, even if the store didn't offer this option. It's worth noting that since this is a specific installment plan, it's subject to interest.
This way, the goal is to prevent customers from financing their entire bill due to a single transaction that's weighing on their wallet. This feature is unprecedented in the Brazilian market and represents a digital bank alternative for users to better organize their finances.
Regarding interest rates, the amounts charged will be lower than those charged for revolving credit, thus facilitating full payment of the bill and avoiding possible debts, given that rates in the current market are quite high.
How will the installment plan work?
Installments can be for the full or partial amount of the invoice, and can also be used to pay for a specific purchase in installments. You can even pay in up to 12 installments, as long as the installment amount is R$ 20.00.
It is worth noting that this is a test, and in addition to being available to users soon, it should also allow for payment in larger installments, depending on each consumer's credit analysis.
See how to pay in installments through Nubank:
- Access the Nubank app;
- Click on the credit card statement;
- Click on the purchase you want to pay in installments and select the “pay in installments” option;
- Check the conditions, payment terms, interest, etc.;
- Confirm the operation.
