Guiabolso will be integrated into PicPay in November

Users Baseball glove received an email that was already expected: the application, purchased by PicPay in 2021, will be discontinued, as the implementation process will be completed in November 2022.

Technically, the secondary app will now be part of the larger app. Understand the process right now and how accounts will be deactivated.

The purchase of Guiabolso in 2021

For a transaction that cost between R$150 million and R$200 million, the PicPay announced in July 2021 that it now owned the app that was one of the true forerunners of the Open Banking, now known as Open Finance. At the time of the acquisition, the app had more than 6 million users and BRL 1 billion in credit granted through partners on the platform.

When it announced the acquisition, the bank, which became one of the main sponsors of the Big Brother Brazil, had more than 55 million registered users who moved money daily.

At the time, the main focus of fintech green was to enjoy the expertise do Baseball glove in relation to Open Banking and integrate the most important functionality into your main application. This has been done gradually and as the apps have become too much alike, everything will be centered in one place.

Features have already arrived at PicPay

Shortly after making the purchase, the owner started deploying the features in his app. The first of these was the credit offer, which is basically a partnership with the BV, Creditas, Digio, Loan Sim and PortoCred for customers to have greater purchasing power in the market through personal loans, early FGTS birthday withdrawals, credit through the Loan Club and credit card without annuity.

Then it was time for the consultation e CPF monitoring be implemented to PicPay. This allowed people who had an account to know their score in real time and also to receive a notification in case of a suspicious review or pending.

O OpenFinance Hub This is the functionality that is most based on the app: in practice, through the release of the user, the app was able to indicate the best techniques so that the money paid and all the goals were reached without effort.

The more you get into Open Finance, the more your data gets spread out. With the Open Finance hub, it is possible to manage consents in a simpler way, even checking the validity period of each one.

Thiago Alvarez, head of Open Finance at PicPay.

The latest news was the section My Finances, which works as a financial management tool that organizes users' expenses and receipts. This allows each expense and gain to be dynamically visualized and, of course, you can organize yourself.

As part of phase 2 of the Open Finance, the company hopes to be a reference on the subject. The numbers are above expectations: about 80% of users brought bank details from other institutions to have better credit opportunities on PicPay.

How will the data of Guiabolso users look like?

According to the official statement, all data from the accounts of the Baseball glove that are still active can be downloaded. Just access the section Financial report and click the download button. It will be necessary to select the period of the statement on the next screen and then click on select period.

O PicPay highlighted that the spreadsheets will be categorized and a file will be sent to the email registered in the account. You can select quarterly, semi-annual or yearly period.

Following the Data Protection Law, the information will be deleted or anonymized, but apparently it will not be possible to send data from one account to another from the PicPay. The finance tracking app is expected to be discontinued after the second week of November.

Were you a user of Baseball glove? Tell us in the comments!

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With information: PicPay Blog