The digital wallet from Brazilian ride-hailing app 99, owned by the Chinese giant Didi Chuxing since 2018, when the app became the first Brazilian unicorn, hit 1.3 million active users less than a year after its launch.
Available in more than 25 cities, 99 Pay arrived in Rio de Janeiro in April and is now accelerating its expansion schedule due to the good adherence to the service. The goal is to reach São Paulo city and the metropolitan region in the first semester and be in all Brazilian cities by the end of the year, even in those where the ride-hailing app 99 does not operate. The company does not disclose the amount handled via digital wallet but says that the service has already generated more than BRL 22 million in savings to customers through cashback, discounts on rides, and bonuses for balance held in the wallet. 99 Pay digital wallet is focused on passengers – drivers have another app – and it is the 99’s first bet in the financial services area. Orsolini Filho reinforces that 99 has no plans to become a financial institution at the moment but confirms that the strategy related to the financial solutions portfolio is bold and includes, in the future, the development and launch of a credit card. “Business evolves, and so do the demands.”