Being one of the largest financial institutions in Brazil today, Nubank, with its thousands of customers spread across the country and which offers many advantages and benefits to many, the bank's method of invoicing is still mysterious. However, the strategies that fintech uses are clearer than they appear to be.
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The American magazine Fast Company elected Nubank as one of the most innovative companies in Latin America, still in 2018. One of the main reasons for Nubank's great prominence is that fintech has a habit of going against high rates charged on the credit card by other financial institutions, in this case, the many traditional banks in the Marketplace. Nubank's policy is not to charge annuities or even monthly fees from customers.
However, it is worth remembering that Nubank has a simple way of accessing the services, which has also contributed to the institution receiving its acknowledgments more or less four years, as Nubank does not have physical branches and everything that concerns them can be resolved without many bureaucracies in a practical and fast.
Everyone knows that Nubank is an institution that offers a series of advantages to customers and a series of interesting benefits. It is not in vain that Nubank is the digital bank with the highest download rate in Brazil, even with shares being cheap on the stock exchange. In general, the bank offers a legal and transparent relationship with its customers. When it comes to consumers, what has made Nubank so far ahead of other institutions is the fact that it does not charge annuity or maintenance fees for the services it offers.
Having as main source of income the so-called “Interchange”. When a purchase is made with the card machine, there is a charge that is paid in three parts:
This is because the merchant always ends up paying an amount for the transaction, which is usually approximately 5% of the total purchase price. In addition, other earnings that Nubank acquires are charged for interest on delay or financing of the credit card bill.
Currently, the financial institution has more than 40 million customers and is among the most valuable companies in Brazil. With an estimated value of US$52 billion.
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