Introduced in 2020 by the Central Bank of Brazil, the Pix digital payment system has become one of the most used payment methods in the country with over 164 million users. While other countries around the world are looking to emulate the service’s success, PagBrasil, the Brazilian payment processor, is now making Pix accessible to e-commerce businesses around the globe.
This has been made possible through two new Pix instant payment solutions: Pix Roaming and International Pix. The former service will enable tourists visiting Brazil to complete transaction instantly wherever Pix is accepted. They will benefit from the usual offers associated with Pix, including discounts. Additionally, they will be able to pay as simply as local consumers: either selecting Pix at checkout, scanning a QR code or entering a Pix code to complete the transaction.
The other solution, International Pix, enables Brazilians to use the Pix instant payment system at participating physical stores while travelling outside Brazil. Both are PagBrasil solutions that integrate with POS solutions (International Pix) and e-wallets (Pix Roaming) provided by its partner providers.
Why Pix?
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.
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 $1.2billion by 2025.
“Pix is now responsible for 90 per cent 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 travelling to Brazil, can utilise 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.”
Pix Roaming for tourists to Brazil
Pix Roaming by PagBrasil allows international tourists and business travellers 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 $7billion. PagBrasil expects that Pix Roaming will earn $200million in 2025, reaching $400million in 2026,” says Germer.
International Pix for Brazilians abroad
International Pix is PagBrasil’s new solution for Brazilians travelling to other countries, such as Argentina, Uruguay, Chile, and the United States. Furthermore, 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.”
