PicPaya Brazilian digital payments company, is increasingly relying on artificial intelligence to manage its rapid scale.
The Brazilian digital payment company discussed the effort on Wednesday (March 18). I mentioned Its first quarterly profits Since it became public Earlier this year.
These results showed an 85% increase in net revenues for the year, a jump that the company attributed to expanding its financial services portfolio and increasing cross-selling within its customer base.
CEO Eduardo is intense He told analysts that the company’s AI strategy moved into high gear shortly after ChatGPT’s public launch. PicPay moved all of its top-tier customer services to an AI model about two years ago, a shift that has had a measurable impact on the company’s payroll and operations.
“Just to give you an idea of how good that is, we ended up avoiding hiring nearly 3,000 customer service representatives in the last two yearsShadid said.
Automation efforts extend beyond cost reduction to revenue generation. Last year, PicPay’s AI engines generated more than 50 billion personalized recommendations for its customers, crediting it with managing traffic while increasing penetration of its credit and insurance products.
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The company is also integrating its services into daily habits; For example, more than 10 million users now make Pix transactions in Brazil Instant payment system everywhere, Directly through WhatsApp using PicPay backend.
“The goal here is to actually have 100% of PicPay’s products and services that can be done without the app and actually live where the customer is,” he said. Danilo CafaroExecutive Vice President of Consumer Banking at PicPay.
Looking to the future, the company is finalizing tests on its foundation model for credit underwriting. This tech-first approach to lending is central to PicPay’s “hub” strategy, as it aggregates user balances and credit card data from other banks to create a more complete financial profile. Management believes this data allows for better underwriting and increased revenue per user.
This digital ecosystem is being expanded to include non-banking services, such as the Travel Hub and food delivery partnership with… rapDesigned to keep users inside the app.
PYMNTS spoke with Shadid last month after PicPay’s debut on the Nasdaq. As that report noted, the company is “credit-led.” Evolution is unfolding On a mature and unique digital background.
Brazil arrived around 94% digital adoptionAccording to PYMNTS Intelligence research, digital payments now serve as a major infrastructure rather than an emerging technology.
Shadeed also praised Brazil’s central bank for helping to stimulate competition and allow fintech platforms to expand, creating an environment where wallet-based ecosystems can naturally extend into credit.
“This maturity, he suggested, made the shift to balance sheet lending not only possible, but necessary,” PYMNTS wrote.
