Koin built a focused product: pre-approved credit usable as Pix Parcelado at partner stores like Amazon, Mercado Livre, Shein, and Petlove, with up to 12 installments and no credit card required. The model only works as well as the partner list and the limit allow. If a store you want is not a partner, or the approved limit is below what you need, the Koin alternatives below open up a wider Pix Parcelado universe through full digital banks and payment wallets.
This guide compares 7 Koin alternatives. Each one offers Pix Parcelado or a similar installment-without-a-credit-card flow. Differentiation is the limit ceiling, store coverage, and whether the wallet covers daily banking on top.
Quick comparison
| App | Best for | Partner stores | Standout |
|---|---|---|---|
| PicPay | Pix Parcelado on any merchant | Any Pix merchant | Up to 24x installments |
| Mercado Pago | Mercado Livre + open Pix | Marketplace + Pix | Mercado Puntos |
| Nubank | Comprar Parcelado pelo Pix | Any Pix merchant | Credit-limit growth with use |
| Inter | Pix em até 24x | Any Pix merchant | Inter Shop integration |
| Iti | Itaú-backed installments | Any Pix merchant | Itaú network access |
| PagBank | Merchant-side BNPL | Sellers + buyers | POS + personal Pix |
| RecargaPay | Pix by credit card | Any Pix merchant | Card-tier cashback |
Why people leave Koin
Koin wins on a clean partner-store flow, but several things push users to look around.
- Partner-store limit. Koin only works at partner stores. A purchase at a non-partner store needs a different installment route.
- Limit ceiling can feel low. Pre-approved credit limits are profile-dependent. Higher purchases may not fit.
- Not a full bank. Koin is a credit-and-installment tool, not a Pix wallet or a debit card. Users still need a separate bank app.
- Coupons live alongside credit decisions. The discount-coupon layer creates a marketing surface around credit choices, which some users prefer to keep separate.
- Installment fees stack across orders. Each Pix Parcelado purchase carries its own fee, which can add up across multiple online orders per month.
Which Koin alternative should you choose?
- PicPay if you want Pix Parcelado that works at any merchant, not just partners.
- Mercado Pago if Mercado Livre is part of weekly spend.
- Nubank if you want installments tied to a clean digital bank.
- Inter if Inter Shop cashback alongside installments fits your routine.
- Iti if Itaú network access plus Pix Parcelado matters.
- PagBank if you sell on the side and want one app for both BNPL receipts and personal Pix.
- RecargaPay if Pix-by-credit-card and a cashback card matter.
1. PicPay — best for Pix Parcelado at any merchant
PicPay offers Pix Parcelado as a core feature: pay any Pix QR code in installments without a credit card, up to 24x depending on profile and merchant. The credit card and the wallet sit alongside, so the same app covers split-the-bill transfers, bill payments, and mobile top-ups.
Where it falls short: Pix Parcelado fees apply per transaction. Limit growth depends on usage history.
Pricing: Free account. Card with no annual fee. Pix Parcelado fee applies per transaction.
PicPay vs Koin: PicPay wins on universal Pix merchant coverage. Koin wins on the curated partner-store coupon flow.
Bottom line: Pick PicPay when you want Pix Parcelado outside the partner-store world.
2. Mercado Pago — best for Mercado Livre buyers plus open Pix
Mercado Pago covers installments two ways: Mercado Crédito for marketplace purchases and Pix Parcelado for open-market Pix. The credit card returns Mercado Puntos that discount marketplace purchases, and the account pays a remunerated balance.
Where it falls short: Full benefit applies to active Mercado Livre buyers. Pix Parcelado fees apply per transaction.
Pricing: Free account. Card with no annual fee on basic tier. Pix free.
Mercado Pago vs Koin: Mercado Pago wins on marketplace integration and a remunerated balance. Koin wins on a tighter partner-store coupon flow without marketplace gating.
Bottom line: Pick Mercado Pago when Mercado Livre is your main online store and points back into the marketplace pay you back.
3. Nubank — best for Comprar Parcelado pelo Pix with a clean bank
Nubank's Comprar Parcelado pelo Pix lets cardholders split any Pix purchase into installments at the time of payment. Limit and term depend on the credit line on the account, which grows with payment history. The bank side covers Pix, debit, the Caixinha, and the credit card.
Where it falls short: Available to Nubank cardholders. Installment fees apply per transaction.
Pricing: Free account. Card with no annual fee. Pix free. Installment fee per transaction.
Nubank vs Koin: Nubank wins on combining installments with a clean digital bank. Koin wins on partner-store coupons without needing a Nubank card.
Bottom line: Pick Nubank when you already use the bank and want installments via a card-attached credit line.
4. Inter — best for Pix em até 24x with shopping integration
Inter's Pix em até 24x covers installments on Pix purchases at any merchant. The card, the bank, the investments menu, and Inter Shop sit alongside. Cashback on partner-store spend offsets some of the installment fees over time.
Where it falls short: Inter Shop cashback varies by partner. Installment fees apply per transaction.
Pricing: Free account. Card with no annual fee. Pix free. Installment fee per transaction.
Inter vs Koin: Inter wins on combining installments with shopping cashback and an active investments menu. Koin wins on partner-store-specific coupon depth without a bank-account dependency.
Bottom line: Pick Inter when you want installments alongside a free bank and shopping cashback in one app.
5. Iti — best for Itaú-backed installments
Iti is Itaú's digital-first account. Pix, card, and a Parcelado-via-Pix feature back installments at any Pix merchant. The Itaú ATM network covers cash withdrawals without joining the main Itaú bank.
Where it falls short: Installment fees apply per transaction. Limit growth depends on usage history.
Pricing: Free account. Card with no annual fee on basic tier. Pix free. Installment fee per transaction.
Iti vs Koin: Iti wins on Itaú network access. Koin wins on partner-store coupons that Iti does not curate.
Bottom line: Pick Iti when Itaú backing matters and you want installments from a light digital wallet.
6. PagBank — best for merchant-side BNPL
PagBank covers both sides of the BNPL coin: PagBank POS and payment links let sellers accept installment payments, and the personal account covers Pix, card, and bill payments with a remunerated balance.
Where it falls short: App can feel like two products fused for personal-only users. Pix Parcelado on the buyer side is less central than at PicPay or Nubank.
Pricing: Free account. Card with no annual fee on basic tier. Pix free.
PagBank vs Koin: PagBank wins on covering both buyer and seller flows. Koin wins on the focused buyer-side curated partner experience.
Bottom line: Pick PagBank when side-business sales and personal Pix Parcelado need to live in the same app.
7. RecargaPay — best for Pix by credit card with a wallet
RecargaPay's Pix by credit card flow installs any Pix in up to 18x and runs alongside a Visa card with cashback, a CDB on idle balance, and bill-payment plus mobile top-up tools. Tap-to-Pay turns the phone into a card machine for side-business use.
Where it falls short: Pix-by-credit-card carries a per-transaction fee. Card cashback rates depend on tier.
Pricing: Free account. Card tiers with conditional annual fee waivers. Pix free.
RecargaPay vs Koin: RecargaPay wins on the breadth of the wallet, including merchant Tap-to-Pay. Koin wins on the focused partner-store discount flow.
Bottom line: Pick RecargaPay when you want Pix by credit card alongside a daily wallet and a Visa cashback card.
How to choose
For Pix Parcelado at any merchant, PicPay, Nubank, Inter, and Iti all offer a similar installment flow. PicPay reaches the widest install base.
For Mercado Livre buyers, Mercado Pago ties installments to the marketplace and pays points back. For Pix by credit card alongside a wallet, RecargaPay fits.
For side-business owners who also sell on installments, PagBank covers both buyer and seller sides.
Stay on Koin when partner-store coupons add up for you, your routine purchases are at Koin partners (Amazon, Mercado Livre, Shein, Petlove), and you already use a separate bank account for daily Pix and cards.
FAQ
Which Koin alternative offers Pix Parcelado at any store?
PicPay, Nubank, Inter, and Iti all offer Pix Parcelado at any Pix merchant, not just curated partners. PicPay's marketing positions this most aggressively.
Is Koin or PicPay cheaper for installments?
Rates vary per user profile and per partner store. Compare the full effective rate disclosed in the app before committing. Koin sometimes bundles coupons that lower the effective cost at specific partners.
Can I get a Pix Parcelado limit without a credit card?
Yes. Koin, PicPay, Nubank, and Iti all evaluate a limit based on profile and use history rather than requiring an existing credit card.
Which Koin alternative is fully free to sign up?
All seven alternatives above run free signup. Installment fees apply per transaction, separate from the account fee.
Does Mercado Livre work with Koin?
Yes. Koin is one of the Pix Parcelado options at Mercado Livre. Mercado Pago, PicPay, and Nubank also support installment purchases on the marketplace through their own flows.
