Recently, the Nubank released a new service for its customers, the function called contactless. It is about payment by approach with the card.
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Now, the limit amount for passwordless payments is BRL 200. The card limit can be readjusted by the customer through the fintech app. However, it is important for the customer to be aware that there is no option to correct the credit limit by approximation. Therefore, it is exclusively up to the customer to decide whether to have the new limit released in the functionality or to deactivate the function.
The new service allows payments to be made by approximation only, without the need to use the card. This functionality applies to credit and debit modes.
Activation of the new functionality takes place immediately, right after the first purchase with the card, when it is inserted into the machine. After release, the customer can use the function whenever they want.
Purchases made through contact information are encrypted in order to guarantee the security of the transaction, since the use of a password becomes mandatory for payments over R$200.
Who does not want to use the new functionality when making their purchases with contactlessapproximation, it will be necessary to follow the three steps:
- Access the Nubank application and click on the arrow below your name;
- Choose the option “Configure card”;
- Turn off “Approach purchases”
Okay, following the three steps above, the contactless credit card function will be deactivated from the customer’s account.
Nubank card limit
Regarding the Nubank card limit, the bank’s algorithm evaluates the credit and is constantly fed with new information.
“We are always looking for more market data to help us make better decisions for the profile of each client – and we frequently do new analyzes on our base to give proactive limit increases, for example”, says Nubank.
From the moment someone is approved for the Nubank card, fintech makes a projection of that person’s expenses, with risk analysis, usage profile and also uses external data, such as a score (the score used by Serasa, which indicates the probability of people being late or not paying a bill), for example, to define a threshold and credit insurance.
“This process is done by an algorithm – an automated system that analyzes all this data and sets an initial threshold.”