Focused on gaining customers for its digital portfolio, the Magazine Luiza announces this Thursday (26) an action with the McDonalds which gives R$ 10 in ‘cash back’ to those who spend from R$ 30 on the fast food chain and pay with PIX, using the MagaluPay Digital Wallet. MagaluPay currently has 3.3 million accounts open.
Magazine Luiza’s financial arm, as a whole, is one of the company’s biggest bets to increase its revenue generation.
Investments in promotions and subsidies to gain land are also made with a focus on legal entities (the virtual storekeepers who sell through the company’s platform).
The company now offers them free checking accounts, reduced-price machines, as well as testing credit products that are more comprehensive than prepayment of receivables.
At a recent event with these virtual retailers, the company’s Fintech director, Robson Dantas, was asked – at a press conference – if so many free services and subsidized machine costs should not affect the company’s numbers, as happens in some cases in competition .
Dantas said that the fact that fintech is embedded in Magazine Luiza’s main application makes customer acquisition costs cheaper. MagaluPay, a digital wallet for individuals, whose promotion with McDonald’s aims to leverage, is also accessible via Magazine Luiza’s main application.
The promotional action will last for two weeks and is not valid for Santa Catarina, as the square does not accept payments made via PIX. Each user can accumulate up to R$30 of ‘cash back’ and use the amount however they want: from payments to transfers.