Méliuz, a Brazilian cashback and discount coupon platform, has launched its new app, which offers a free digital account, a credit card, and bitcoin investment all in a single app.
The launch is in line with the company’s strategy to become a more robust ecosystem by expanding its financial services portfolio and going international. The idea of Méliuz is that its users bring their entire financial life into its ecosystem.
With this, Méliuz also sharpens the competition, since the integration of financial services with shopping features puts the company competing with a number of fintechs and large financial institutions in the country such as Inter and Itaú Unibanco.
“The launch of the new app is a very important step towards our goal of positioning Méliuz as the best shopping solution for both consumers and partner stores,” said Israel Salmen, founder and CEO at Méliuz.
In addition to shopping services, users will be able to use the app to send and receive PIX (PIX is the Brazilian instant payment system), buy and sell bitcoins, use the remaining balance to make purchases with their credit card at any online or physical store, among other features.
The app is already available for some of the Méliuz users and will be made available to the entire user base gradually over the coming weeks.
The new Méliuz credit card, according to the company, has more than 700,000 subscribers on its Waiting List for priority in credit analysis. The card, international and multifunctional, comes to the market in credit, debit and prepaid card functions, with no fees. In addition, it has cashback in cryptocurrencies (cryptoback).
According to Salmen, the first two launches of the year, the app and the new credit card, are “just the beginning”: the company plans to develop new features, such as account income, salary portability and more uses for cashback.
Méliuz reported last week that it had a 77% growth in gross sales in Q4 2021 over the same period 2020 and ended the year with 22.4 million accounts, an increase of 1.6 million compared to September. The number of active users was 9.4 million.