RecargoPay is the leader in mobile payment wallets for corporate use and for personal use in Brazil. It is the top app for mobile top ups. In August, the service reached the milestone of 10 million downloads in Android Market. In June, RecargoPay had been the first mobile financial technology in Brazil to reach that mark. The service has been developed for corporate users and personal users. In the Brazilian mobile market, it has been rated as a "Most Used Payment App" by the market research firms that are hired by the top retail companies for the purpose of tracking their sales.
It helps people to make purchases at retail stores using top mobile payments. As per the research, it had over a hundred thousand active users, who were making purchases at more than five hundred retail stores in thirty-four countries. The service was available in three versions, the free version, the pro version with monthly membership charges and the premium version which require a one-time fee. The free version allowed users to make transactions by SMS, while the premium version offered real-time mobile credit limit transactions.
To encourage the users to make purchases using mobile payments, RecargoPay offers the facility to earn points every time they make a purchase using its mobile payments. The points are then exchanged for gift cards from leading stores in the market. For making an account with RecargoPay, users need to login on the website using their mobile phone. They need to create a secure password and a PIN number. Once these two factors are registered, users are allowed to open a personal and a corporate account. The personal account offers only a few features like transferring money from their checking account into their bank accounts, buying gift cards and paying bills. The corporate account allows users to access their funds in online bank accounts, transfer money from their accounts to their bank accounts and buy items with their mobile bank cards.