Peruvian fintech B89 has announced a partnership with Brazil-based PagBrasil , aiming to extend Pix to Latin American countries outside Brazil. This collaboration, focused on introducing Pix International, will allow merchants in countries such as Panama, Colombia, Peru, Bolivia, Paraguay, Venezuela, and Ecuador to accept payments in Brazilian reais with guaranteed exchange rates, reducing uncertainty due to exchange rate fluctuations.

In essence, Pix International enables Brazilian tourists or residents in these regions to make secure payments in their home currency, enhancing transactional security for both customers and merchants. With this integration, merchants operating in Latin America will be able to incorporate Pix as a payment method on their platforms, whether online or in physical locations. This feature is expected to improve the purchasing experience for Brazilian consumers abroad and increase merchant appeal within this consumer segment.

Additionally, Pix provides an alternative to traditional payment systems, with lower transaction fees and no risk of chargebacks, which can help reduce operational expenses for merchants. Officials from B89 expressed that the company’s goal is to facilitate financial solutions that are cost-efficient, agile, and borderless, underscoring how this partnership is aligned with efforts to support merchants in increasing both profitability and customer satisfaction. In turn, representatives from PagBrasil noted the company’s dedication to building a connected and efficient financial ecosystem for Brazilians worldwide.

They highlighted that PagBrasil initiated the expansion of Pix beyond Brazil in May 2023, marking it as the first Brazilian company to facilitate the use of Pix for international payments. Other Pix-related developments In November 2024, Pix by Proximity was introduced by the Central bank of Brazil, available to Google digital wallet users and with a broader rollout to all Pix users set for February 2025.  According to the announcement released at the time, this contactless payment system allows users to pay by simply placing their phones near a payment terminal (similar to a card machine), using bank accounts linked to Google Wallet. Developed in partnership with Rede Itaú and tested on their terminals, this solution became available to any payment acquirers in the market.

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