Fintech Brings Brazilian PIX to European Markets

Last year, fintech PagBrasil enabled payments through PIX, Brazil’s instant payment system, in Uruguay through a partnership with Getnet, a Santander-owned acquirer, via its local partner Plexo. Shortly after, it expanded the solution, called “International PIX,” to other South American countries, including Chile and Argentina.

Now, the company is launching in three European markets: Portugal, Spain, and the Netherlands. The expansion was made possible through partnerships with Wipay and Paybyrd, payment processors in the region.

Department stores, vending machines, gas stations, and hotels, among other types of businesses, are gradually incorporating the solution to accept PIX payments from Brazilian tourists. Initially, there will only be a few thousand points of sale, but this is expected to increase over time.

“In Uruguay, where International PIX was launched last May, there are already more than 15,000 points of sale enabled to receive PIX payments,” says Alex Hoffmann, co-founder of PagBrasil. The Brazilian report.

PagBrasil operates as a sub-acquirer, in connection with the main banks and acquirers in the country, as well as with some of the main e-commerce platforms, such as Shopify and VTEX.

Founded over a decade ago, PagBrasil began by processing cross-border payments for global companies that wanted to sell products and services to Brazilian consumers. The idea was born from a difficulty faced by PagBrasil co-founder Ralf Germer, who at the time was trying to sell a Spanish developer’s software to Brazilian companies.

One of the companies that sold the software in Brazil was Mr. Hoffmann’s online store, based in Porto Alegre, southern Brazil. Together, they developed a solution and founded PagBrasil.

Over time, PagBrasil has specialized in…

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