Tech

The next steps for PicPay, Latin America’s biggest digital wallet

With more than 41 million users, the constantly growing Brazilian app plans to launch a messaging service and P2P lending scheme in February

picpay fintech brazil
Photo: Brenda Rocha/Blossom/Shutterstock

More than 41 million Brazilians use homegrown mobile payment app PicPay. Launched back in 2012, the digital wallet platform doubled its user base last year, processing a total of BRL 49.6 billion (USD 9 billion) in payments and making PicPay the largest app of its kind in Latin America. Beyond enabling users to send and receive money, pay bills, and store loyalty cards and discount coupons, PicPay is now planning to become a “super app,” developing a broad ecosystem with a wide range of business lines. This month’s planned launch of an in-app messaging service is another step in...

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