Hinova Pay Instituição de Pagamento

What Hinova Pay Instituição de Pagamento does

Hinova Pay Instituição de Pagamento S.A. is a Brazilian payment institution authorized by the Central Bank of Brazil (Banco Central do Brasil) that operates a mobile-first digital payment platform targeting business entities (pessoas jurídicas), including small and medium-sized enterprises, associations, and cooperatives. Headquartered in Belo Horizonte, Minas Gerais, the company operates as a regulated payment institution issuing electronic money and providing digital payment accounts for both business and individual customers throughout Brazil. The company employs 101–250 staff and distributes its services exclusively through mobile applications on Android and iOS, with no physical branch presence.

The platform is built around a proprietary closed payment arrangement ("Arranjo de Pagamento HINOVA PAY") instituted under Brazilian law, which enables integrated processing of purchases, transfers, and settlement within the Hinova Pay ecosystem. Core technical capabilities include PIX instant payments (with settlement in up to 10 seconds), static and dynamic QRCode payments, boleto issuance, electronic money issuance, and a Mastercard-branded prepaid credit card with cashback functionality. The platform integrates with association management systems (SGA and SGR) and relies on key infrastructure partners: U4C as the PSP administering PIX keys and SPI participation, UNICO for biometric identity verification, Mastercard for card network services, and Cirrus for ATM access. Security is enforced via two-factor authentication and PCI-compliant token processes.

Hinova Pay's revenue model combines transaction-based fees, recurring monthly maintenance fees under selected tariff plans, prepaid card issuance and transaction charges, professional consulting services for business clients, and an affiliate/cashback arrangement with Hinova Mais. Pricing is freemium at the entry tier — basic accounts carry no monthly, annual, or adhesion fees — with monetized services disclosed in-app at the point of transaction. Go-to-market is product-led growth: customers self-onboard in approximately five minutes via the mobile app, supplemented by a business consultant channel for mid-market clients. Marketing relies on app store presence, Instagram content, and the Hinova Mais referral network rather than paid acquisition.

Name

Hinova Pay Instituição de Pagamento

Legal name

Hinova Pay Instituição de Pagamento S.A.

Website

https://hinovapay.com.br

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Hinova Pay is a Brazilian payment institution authorized by the Central Bank, offering a mobile-first digital payment platform with PIX, QRCode, prepaid Mastercard, and electronic money issuance, primarily serving small and medium-sized businesses and associations across Brazil.

Ownership category

akta.pro rank

Product category

Payment Institution Services / Digital Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Digital payment services
• Business payment accounts
• Mobile payment platform
• Prepaid card issuance
• PIX instant payments

Headquarters

HQ city

Belo Horizonte

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Transaction and Service Fees: Fees charged per payment transaction processed through the platform, including QRCode payments, PIX transfers, boleto payments, and prepaid card transactions. Most basic services are free; tariffed services are displayed during the transaction within the app.
2. Monthly Account Maintenance Fee (Tarifa de Manutenção/Mensalidade): Monthly subscription fee for account maintenance, charged according to the chosen tariff plan. No monthly, annual, or adhesion fees are charged for basic accounts. Fees apply based on the selected tariff plan.
3. Prepaid Card Fees: Fees associated with the Mastercard prepaid credit card, including issuance, delivery, inactivity charges, and per-transaction fees. Additional fees for ATM withdrawals via the Cirrus network.
4. Business Consulting Services: Personalized consulting services for business customers, offered at lower cost than traditional providers, generating service revenue for the company.
5. Hinova Mais Cashback Partnership: Partnership with Hinova Mais offering discounts and cashback at partner stores, generating value for the platform through customer retention and engagement.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hinova Pay is a Bacen-authorized Brazilian payment institution that issues digital payment accounts (Conta de Pagamento) for individuals and legal entities, operating its own closed-loop Arranjo de Pagamento HINOVA PAY. It delivers PIX instant transfers, dynamic QR code payments, prepaid Mastercard issuance and boleto (bank slip) registration through a mobile-first platform, capturing revenue from transaction fees, monthly maintenance, card fees and consulting services.

Differentiator

Problem solved

Functional benefit

Products and services

• Conta de Pagamento Hinova Pay (PF e PJ) Regulated digital payment account for individuals (PF) and legal entities (PJ) operated by Hinova Pay on its Bacen-authorized Arranjo de Pagamento HINOVA PAY; supports PIX, QR Code, boleto and prepaid Mastercard transactions with a free tier and a paid tier with monthly maintenance fees.
• Arranjo de Pagamento HINOVA PAY Bacen-licensed closed-loop payment arrangement operated by Hinova Pay, providing the underlying rails for issuing electronic money, processing payments and settling transactions among account holders within the arrangement.
• Cartão de Crédito Pré-Pago Hinova Pay (Mastercard) Prepaid Mastercard issued on the Mastercard network with Cirrus acceptance, allowing PIN-free contactless purchases and ATM withdrawals, linked to the Hinova Pay payment account balance.
• Ferramentas de Pagamento (Pix QR Code e Boleto) Integrated payment tools for businesses to generate dynamic Pix QR Codes for instant collection and to register boletos for receipt of bank-slip payments, distributed through the Hinova Pay app and internet banking.
• Serviços de Consultoria Hinova Pay Business and financial management consulting services offered alongside the payment account, including support for credit, supplier payments (pagar fornecedores) and operational management, delivered through Hinova Pay's consultant network.

Quantifiable outcome

• Account registration completed in 5 minutes via mobile app
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core, flagship and supporting.

• U4C Instituição de Pagamento S.A.coreTechnology or IntegrationU4C serves as the PSP (Payment Institution) partner responsible for administering PIX keys and operating as a Direct Participant in the Instant Payment System (SPI). U4C manages the DICT (Directory of Transaction Account Identifiers) for PIX key registration and handles PIX transaction processing, dispute resolution, and fraud monitoring on behalf of Hinova Pay. This is a foundational operational partnership essential to PIX services.
• UNICO Tecnologia da Informação S.A.coreTechnology or IntegrationUNICO provides identity verification and biometric authentication services for Hinova Pay's customer onboarding process. The partnership enables secure identity verification using facial recognition and document validation, enhancing KYC procedures and fraud prevention during account registration.
• Hinova MaisflagshipStrategic or Co-development PartnerHinova Mais is a flagship strategic partner offering a combined service with Hinova Pay. Through this partnership, users receive cashback and discounts at thousands of partner stores. The combo creates mutual customer value: Hinova Pay users gain access to real financial benefits while Hinova Mais benefits from the payment platform's customer base.
• MastercardcoreTechnology or IntegrationMastercard serves as the card network (bandeira) for Hinova Pay's prepaid credit card (Cartão de Crédito Pré-Pago). The partnership enables international card acceptance, cashback program processing, chargeback dispute resolution through Mastercard's regulations, and PCI compliance requirements. Hinova Pay shares transaction data with Mastercard for card program operations.
• Cirus NetworksupportingOthersCirus operates the ATM network (Rede Cirrus) that enables Hinova Pay prepaid cardholders to perform cash withdrawals at ATMs throughout Brazil. Withdrawal transactions are subject to fees charged by Cirus and its partner financial institutions.
• Banco Central do Brasil (Bacen)coreOthersThe Central Bank of Brazil is the regulatory authority that authorizes and supervises Hinova Pay as an authorized Payment Institution (Instituição de Pagamento). Hinova Pay operates under multiple BCB resolutions including Resolution BCB nº 1/2020, Resolution BCB nº 96/2021, Resolution BCB nº 142/2021, and Resolution BCB nº 85/2021, among others.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Inter & Co: Inter is a Brazilian super-app digital bank offering accounts, PIX, cards, and an SMB-focused product suite through Inter Empresas. Comparable to Hinova Pay as a multi-product Brazilian digital financial platform targeting both consumers and business entities.
• Mercado Pago: Mercado Pago is the fintech arm of MercadoLibre, offering digital accounts, PIX, credit, prepaid cards, and merchant payments across Latin America. It competes with Hinova Pay across consumer accounts, PIX, and QRCode merchant payments in Brazil.
• C6 Bank: C6 Bank is a Brazilian digital bank backed by JPMorgan offering free accounts, PIX, and credit/debit cards to consumers and businesses. It competes directly with Hinova Pay on the digital account + PIX + card stack for Brazilian SMBs and individuals.
• Nubank: Nubank is Brazil's largest digital bank with over 90 million customers, offering free digital accounts, PIX, prepaid and credit cards, and increasingly B2B products. While its SMB offering is broader, it competes with Hinova Pay for the same Brazilian SMB and individual customer base on free account features and PIX.

Direct peers

• PicPay: PicPay is a Brazilian digital wallet and payment institution offering free accounts, PIX, prepaid cards, and a cashback marketplace. Direct comparable to Hinova Pay on the consumer/SMB digital account + wallet + cashback stack.
• Conta Simples: Conta Simples is a Brazilian corporate-focused digital account offering free PJ accounts, PIX, boletos, and expense management for SMBs. Closely comparable to Hinova Pay in targeting Brazilian PJ (pessoa jurídica) customers with integrated payment account products.
• PagSeguro: PagSeguro is a Brazilian payment institution offering digital accounts, PIX, payment processing, and card acceptance to SMBs and individuals. Closely comparable to Hinova Pay as a licensed payment institution with a closed-loop account, card, and QRCode/PIX offering for the Brazilian SMB market.
• Stone Co: Stone is a major Brazilian acquirer and fintech offering payment accounts (Conta Stone), PIX, and integrated SMB software. Comparable to Hinova Pay in targeting Brazilian SMBs with payment accounts, PIX, and card products as part of an integrated payments stack.

Emerging players

• Conta Azul: Conta Azul is a Brazilian SMB financial management platform offering digital accounts, payment tools, and ERP integration for small businesses. Comparable to Hinova Pay in addressing the financial workflow needs of Brazilian SMBs, with adjacent integration capabilities to association/management systems.

Regional players

• EBANX: EBANX is a Latin American payment processor offering cross-border and domestic payment processing across Brazil and other LATAM markets. Adjacent peer to Hinova Pay as a Brazilian-rooted payments infrastructure provider, though focused more on cross-border than SMB PJ accounts.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/hinovapay

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hinova Pay Instituição de Pagamento