Source: PagBrasil
PagBrasil, a leading fintech company processing payments in Brazil for e-commerce businesses worldwide, announced the availability of two new Pix instant payment solutions, Pix Roaming, and International Pix.
PagBrasil now offers the widest variety of payment methods for Pix on the market. The newest solutions include Pix Roaming, which enables purchases with Pix for tourists visiting Brazil, allowing them to complete transactions instantly wherever Pix is accepted, and with all the benefits usually offered when paying with Pix, including discounts. The other solution, International Pix, enables Brazilians to use the Pix instant payment system at participating physical stores while traveling outside Brazil. Both are PagBrasil solutions that integrate with POS solutions (International Pix) and e-wallets (Pix Roaming) provided by our partner providers.
“Pix is now responsible for 90% of bank transactions in Brazil,” said Ralf Germer, CEO and co-founder of PagBrasil. “What we have done at PagBrasil is to enable a multitude of ways that Brazilian tourists abroad, and foreign tourists traveling to Brazil, can utilize Pix services – providing businesses and consumers innovative and seamless means to leverage Pix inside and out of the country. Pix saves consumers exorbitant transaction fees, and merchants receive immediate payment rather than waiting up to 30 days for credit card payments. It’s also less expensive than credit card transactions.”
The Pix instant payment system is widely used in Brazil to streamline and expedite purchases and financial transactions. It is seamlessly integrated with all Brazilian bank accounts and digital wallets. Users can initiate Pix transactions through multiple channels, including mobile banking apps, online banking platforms, or digital wallets offered by financial institutions. This widespread accessibility and integration have made Pix a highly popular payment method throughout Brazil. Consumers can use Pix to complete transactions with merchants and service providers. It's worth highlighting that Pix also supports B2B (business-to-business), P2G (person-to-government), and B2G (business-to-government) transactions.
Since the Central Bank of Brazil introduced in 2020, the Pix digital payment system has become commonplace in South America’s largest country, with more than 164 million users, enabling Brazilians to make retail and e-commerce transactions using their smartphones.
Consumers simply choose Pix at checkout and either scan a QR code or enter a Pix code to complete the transaction in their mobile banking app.
Pix Roaming for Tourists to Brazil
Pix Roaming by PagBrasil allows international tourists and business travelers to Brazil to make purchases and transactions by scanning their Pix QR code. The transaction amount paid in Brazilian Real converts instantly to the visitor’s currency, and payment is settled using the payer’s digital wallet or bank funds.
Tourists using Pix payments don’t have to worry about exchange rates. Additionally, merchants will not ascertain any change in transactions since Pix Roaming purchases are handled like the standard Pix.
PagBrasil anticipates that tourists will flock to Pix Roaming. “Brazil received almost 6 million foreign tourists in 2023, who spent around US$ 7 billion. PagBrasil expects that Pix Roaming will earn US$ 200 million in 2025, reaching US$ 400 million in 2026,” says Germer.
International Pix for Brazilians Abroad
International Pix is PagBrasil’s new solution for Brazilians traveling to other countries, such as Argentina, Uruguay, Chile, and the United States. With International Pix, Brazilians can use their Pix account abroad just as they do at home.
By adopting Pix, participating hotels, restaurants, and stores can accept payment using their own POS device. The merchant enters the charge in the local currency, e.g., dollars, and the transaction is completed, automatically converting the value to Brazilian reais at the current exchange rate.
“When Brazilians travel, they should be able to pay for things however they prefer,” said Germer. “International Pix has the potential to boost sales in locations like Florida or New York, where over one million Brazilians traveled in 2023. It also lowers costs for both retailers and vacationers.”
Pix is available 24/7, enables secure transactions, and can be linked to participating financial institutions and digital payment services. PagBrasil expects transaction volume for International Pix to reach USD 1.2 billion by 2025.