The number of Brazilians who take out loans to ease their bills at the end of the month grows every year. It is no wonder that, out of the 742 fintech companies mapped in the Fintech Mining Report 2020, 117 are under the “credit” category and 17 under the “debt” category. This is an important indicator that the financial market has been increasingly looking for ways to meet this strong demand.
However, as these numbers grow, so does the number of defaulters in Brazil: according to data from Serasa Experian, 63.8 million Brazilians are in default. Indeed, the country’s socio-economic context has a strong contribution to this phenomenon; however, one way to reduce defaults is to provide a better payment experience. By facilitating payment for the client, helping him to have practical and easy access to the boleto both before the due date and after, with the updated amounts and with a boleto that is payable in any financial institution, the chances of non-payment drop significantly.
Boleto Flash®, the only boleto with payment confirmation in less than one hour, has important features that facilitate payment and can perfectly be used for low-value loans payment. Understand how it is possible to reduce loan defaults with the fastest boleto on the market!
4 practices to reduce loan defaults using Boleto Flash®
With Boleto Flash®, it is possible to increase boleto conversion rates with exclusive features that enhance the payment experience.
1. Enable recurring notifications
Enable recurring notifications throughout the entire period of the contract and avoid the user forgetting to pay for the boleto. This way, he can anticipate and plan for the payment.
2. Send payment reminders with the bar code
Facilitate the payment by sending the boleto’s bar code via e-mail or SMS before the due date. It is also possible to send notifications once the payment is confirmed.
3. Send an updated boleto after the due date
The payment due date has expired and the boleto hasn’t been paid? It is possible to update the boleto due date directly from PagBrasil’s dashboard, without the need to generate a new boleto. This is because Boleto Flash® is generated by a link, and not a PDF – which also makes it completely mobile responsive, adapting itself to any screen.
Another fundamental benefit that provides a positive payment experience is accelerated confirmation. As Boleto Flash® confirms payment in less than an hour, customers with late payments can have their registrations quickly updated, showing no pendency and being able to take out new loans in the future.
4. Enable recurring payments
Automatically charge customers with PagStream® and set recurring payments with Boleto Flash®. This way, the borrower will receive the payment slip every month.
In addition to accelerated confirmation and features that improve the payment experience, Boleto Flash® is also multibank, in other words: the borrower can choose to which bank he wants to make the payment of the boleto, bringing even more convenience.
Want to know more about Boleto Flash®? Get in touch with our sales team!