More than 70,000 users have already downloaded Celcoin, the app that offers financial services without the need for a bank
Paying bills, mobile top-ups, transferring money between phones, withdrawing and depositing cash, all without a bank account. That is the idea behind the Celcoin app, which was launched in March 2016 and has already been downloaded by more than 70,000 users.
The app was created to serve the millions of Brazilians who stand in line every month at banking correspondents, lottery outlets, and bank branches to pay their bills. With Celcoin, users can carry out everyday financial transactions on their phones without opening a bank account.
“Even as they become increasingly digital, banks have costs, restrictions, and approval processes that must be followed. And often what users need is simply to pay their bills, top up their phones, make transfers, and withdraw cash,” says Marcelo França, CEO and founder of Celcoin. “Our goal is to use technology to democratize access.”
To get started, just download Celcoin and add funds, which can be done with a boleto (Brazilian payment slip) or at Itaú, Banco do Brasil, and Caixa branches. The only cost is the withdrawal fee; withdrawals can be made in cash at one of 1900 partner stores or to a bank account.
Besides the simplicity and the lack of red tape and costs, another draw for users has been the promotions and discounts on mobile top-ups. “Mobile top-ups are one of the products Brazilians buy most. Thanks to these incentives and our platform, users have been doing most of their top-ups through Celcoin.”
Earlier this month, the app also launched Google Play top-ups, which let users buy any of the millions of apps, songs, games, movies, and books available on the Google Play Store. “The idea is to gradually add more services to make users’ daily lives easier and easier,” França explains.