Itaú offers tag for paying tolls without monthly fees to customers – 09/01/2021 – Market

Banco Itaú, which shares the control of ConectCar with Porto Seguro, announced this Wednesday (1) that customers of its card and account holders will have free monthly fees for the use of toll and parking payment tags.

According to the bank, the only cost for customers will be the payment for shipping the tags, which will cost R$20.

The service was named Tag Itaú. The switch to the new offer starts with 17 million credit card customers as of the second half of September. By the end of the year, bank account holders are also exempt. The end of the monthly charge will be automatic.

Of ConectCar’s customers, 250,000 pay for the service using Itaú cards to pay for tags.

Alexandre Zancani, director and member of the Executive Committee of Itaú Unibanco, says that the change stems from a new vision regarding the role of tags for the bank. Now, instead of being another product sold in their distribution channels, the offer of tags becomes a benefit for customers.

“We’ve changed the way we hope to extract value from the investment,” he says.

According to the executive, around 10% of Brazilian cars have an installed tag, which indicates great growth potential for the sector.

In addition, new dealerships are expected to adopt discounts for drivers who pay automatically. With this, the service is no longer attractive just for the convenience and starts to offer financial benefits.

Felix Cardamone, president of ConectCar, says that the company has developed a scalable platform to be able to expand the number of customers without a major increase in costs.

The company should also have less spending on attracting customers with the bank’s new offer and will be remunerated according to the number of new Tag Itaú users, he says.

ConectCar has 1.1 million customers. The number of users has been advancing, even in the pandemic, with an increase of 45% in 2020 and 51% in the first half of 2021.

Offering discounts or gratuities on tags’ monthly fees is a strategy that has been gaining momentum among banks.

Banco do Brasil and Bradsco, partners of the company Veloe, are offering two years of free service to their clients in a promotion that runs until the end of September.

BB claims to have 111,000 consumers with active tags and who benefited from this discount.

C6 Bank has been offering free toll tags to its customers since it started operations in August 2019. There is no charge for sending the sticker.

The digital bank says that the service was initially offered in partnership with the company GreenPass and, since January, it has had Veloe as a partner.

In July, Santander entered into a partnership with Semparar to offer six months of free payment to customers who register a bank credit card as a means of payment.