2024-11-12 19:03:00
PICPAY LAUNCHES PIX ON WHATSAPP WITH AI THAT INTERPRETS AUDIO, IMAGES AND MESSAGES, IN ADDITION TO AUTOMATICALLY CALCULATING VALUES
PicPay now allows you to make Pix on WhatsApp; directly through WhatsApp with generative AI. With 57 million accounts, the bank becomes one of the companies that most integrates the power of GenAI face to face with Brazilians, behind only big techs. The innovation is the result of a partnership with Meta, which controls WhatsApp.
In partnership with Meta, the new Pix sending functionality on WhatsApp acts as a financial assistant that eliminates questionnaires from traditional ‘bots’
Unlike traditional ‘bot’ assistants on the market, PicPay’s GenAI, which was trained internally and uses Microsoft Azure OpenAI Service technology, recognizes Pix keys instantly in numerous contexts, such as complex conversations, audios or photos and prints with various information — for example, a price list for a restaurant where the Pix key is in the middle of other words.
The Assistant also calculates percentages and even expenses in groups, such as dividing a barbecue, offering an affordable and practical solution in different situations. Users just need to send or forward the raw content to the conversation with the PicPay Assistant on WhatsApp so that he can proceed with the transaction, which is completed in the app using biometrics to ensure greater security.
AI behind the tool was trained by PicPay and uses technology from Azure OpenAI Service
“The use of GenAI for transactions on WhatsApp takes Pix to cross a new frontier, making it even more practical and faster, with the highest level of security. This innovation not only opens up new use cases, but also brings the future of payments and AI directly into the palm of customers’ hands”, says Danilo Caffaro, executive vice president of Individual Financial Services at PicPay.
In the view of PicPaythe union of a consolidated payment method and a messaging app so present in the daily lives of Brazilians will boost the widespread adoption of this new way of “making a Pix”. With an approach that adapts and learns from the customer, the new feature should also contribute to increasing engagement and leveraging priority among the company’s users.
“Brazil is one of the countries that leads innovation in business solutions involving WhatsApp and Artificial Intelligence”, says Sandro Cachiello, Head of Business Development at Meta. “Today’s announcement of PicPay is an example of our ability to use available technology to advance the payments industry, transforming habits and simplifying everyday transactions for our users.”
To reinforce security, in addition to biometrics carried out in 100% of transactions, the PicPay app has advanced encryption and Safe Mode, in which the user can configure daily limits for Pix outside trusted addresses. Furthermore, the Assistant contact on WhatsApp is a verified account, recognized by the blue check symbol.
O WhatsApp
WhatsApp has end-to-end encryption for all its messages, which ensures that the data sent in the transaction, including Pix keys and payment instructions, remains protected throughout the process. This combination guarantees users robust protection in their banking transactions, without giving up the practicality and accessibility of WhatsApp.
The artificial intelligence behind the tool was developed in Microsoft’s Azure OpenAI Service. It is also used in customer service, and has helped more than 5 million unique users over the course of a year. The technology has been trained to resolve complex requests efficiently, ensuring an exceptional and personalized service experience.
“By integrating advanced Generative AI solutions and great language models that are available in the Microsoft Azure OpenAI Service, PicPay offers an advancement in financial services to customers, generating more convenience, convenience and accessibility for millions of Brazilians. This generates more access to advanced financial services for the population”, comments Christiano Faig, vice president of Technology and Solutions at Microsoft Brazil.
For Caffaro, from PicPay, this launch also marks another stage in the company’s strategy of being present where the user is — which is moving towards an appless horizon — providing greater convenience, accessibility and practicality.
The PicPay Assistant on WhatsApp will also perform functions in addition to Pix, such as notifying about due bills, registering automatic debits via PDF and consulting vehicle documents, bringing it closer to a personalized assistant similar to a ‘private banker’, which offers services generally exclusive to high-income clients.
The feature is being released gradually and will soon be available for all 57 million accounts. Those who already have access can find a shortcut in the app by logging into their PicPay account, selecting ‘Pix’ and then ‘Pix on WhatsApp’.
ABOUT PICPAY
With more than ten years of history, PicPay is a complete ecosystem of financial and non-financial services that aims to facilitate the relationship with money and be the main everyday account for people and their businesses. The company operates on several fronts, such as Financial Services for Individuals, Financial Services for Legal Entities, Investments and PicPay Shop. As an educational company, it also encourages and invests in the training and development of young people in technology, through a partnership with the J&F Institute, a business education center. Founded in Vitória (ES), the company already has more than 35 million active users and 4,500 employees.
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#PIX #WHATSAPP #INTERPRETS #AUDIO
**Interview with Danilo Caffaro, Executive Vice President of Individual Financial Services at PicPay**
**Interviewer:** Thank you for joining us today, Danilo. PicPay’s new feature allowing users to send Pix via WhatsApp with the aid of generative AI is groundbreaking. Can you tell us what inspired this innovation?
**Danilo Caffaro:** Thank you for having me! The inspiration behind this feature was to make financial transactions easier and more intuitive for our users. By integrating generative AI with WhatsApp, we can provide a more accessible way to handle transactions directly within a platform that most Brazilians use daily. Our goal was to eliminate the cumbersome processes traditionally associated with financial transactions.
**Interviewer:** You mentioned that the AI recognizes Pix keys in various contexts. How does this capability enhance user experience?
**Danilo Caffaro:** The AI’s ability to interpret complex conversations, audio, and even images means users won’t have to manually input Pix keys or fill out forms. For example, if someone sends a photo of a restaurant’s price list, our assistant can identify the relevant Pix information within that content. This makes the transaction process seamless and significantly faster, contributing to a much richer user experience.
**Interviewer:** Security is always a concern with financial transactions. What measures has PicPay taken to ensure user safety on this platform?
**Danilo Caffaro:** Security is paramount for us. Each transaction is secured using biometrics, and we also offer advanced encryption and a ‘Safe Mode’ feature that allows users to set daily transaction limits for unfamiliar addresses. Additionally, the assistant’s account is verified, indicated by a blue check symbol, providing users with peace of mind when transacting.
**Interviewer:** How does this feature position PicPay in the market relative to other financial services in Brazil?
**Danilo Caffaro:** This feature positions us as a leader in integrating financial services with messaging platforms. With 57 million accounts, we’re one of the top companies utilizing AI to engage directly with users. This innovation not only streamlines the way people interact with their finances but also promotes wider adoption of digital payment methods in Brazil.
**Interviewer:** what do you envision for the future of financial transactions in Brazil with tools like these?
**Danilo Caffaro:** I envision a future where financial transactions are as effortless as sending a message. With the integration of AI and reliable platforms like WhatsApp, we can greatly enhance customer engagement and accessibility. We’re just beginning to explore the potential of advanced technologies in reshaping financial interactions, and I believe this will lead to more innovative solutions in the near future.
**Interviewer:** Thank you, Danilo, for sharing your insights on this exciting development.
**Danilo Caffaro:** Thank you for having me! I’m excited to see how these innovations evolve.
