The most widely used instant payment method in Brazil promises to continue revolutionizing the market. Integrate it into your digital platform with PayRetailers and offer the local payment solution preferred by Brazilians.
“Are you going to pay, do a PIX!” It’s an expression that has grown in popularity in Brazil. It refers to the instant transfer system that is spurring the country’s adoption of digital payments.
Integrating PIX into your platform for selling products and services on the Internet is not just an opportunity but a necessity to reach new end customers using their favorite digital payment method. Doing so with PayRetailers is very simple: With a single, flexible integration you can make the PIX payment option available to your customers on any web portal or application.
The most used payment solution by Brazilians, allows to make transfers and payments in a matter of seconds, at any time of the day, in a secure and practical way.
According to statistics published by the Central Bank of Brazil, 86% of the country’s population has used PIX to send or receive electronic payments, indicating a much more significant market penetration than that of credit cards.
Considering the importance of PIX payments in the Brazilian market, let’s take a deeper look at its usefulness and the advantages—both for you and your customers—of offering this solution through a payment processor that has expertise in emerging Latin American markets such as PayRetailers.
An optimal payment experience for your end customers
Brazil is the biggest e-commerce market in Latin America, followed by Mexico, and is also the 15th largest worldwide with revenues of $26 billion in 2021.
These are some advantages of integrating PIX payments into your platform:
– Real-time confirmation: You have the option of offering your customers a payment alternative that provides confirmation in less than 10 seconds.
– Availability: Transactions can be carried out 24 hours a day, 365 days a year (including weekends and holidays).
– Convenience: Users simply scan a QR code, online or physical, and payment is confirmed instantly.
– Security: All the user’s personal data is protected by robust mechanisms provided by the Central Bank, reducing the transaction risk for you and the customer.
– Scope: Reach more local consumers by providing a route of access to people without a bank account, as well as those who opt for a more convenient digital payment method.
With PayRetailers your business can access this payment system and offer faster and more affordable transactions to all your customers.
PIX by PayRetailers: boost financial inclusion and increase your conversions without friction
One of the most remarkable features of PIX is its ability to draw more people into the digital financial system. The only pre-requisite is to own a savings, checking or prepaid account in an institution authorized by the Central Bank, such as a bank, fintech or payment institution.
By April 2022, the financial system had 775 such institutions providing broad coverage to the local Brazilian population. This availability, ease of use and security translates into greater number of conversions, completed easily and without problems.
In its first year of operation, the number of people using PIX who had not used a rival Brazilian simple transfer system called TED in the previous 12 months reached 45.6 million. This underscores the attractiveness of PIX and its importance for sales in Brazil’s expanding digital economy.
Harness all the benefits of integrating PIX as a payment method in your digital business, hand in hand with PayRetailers—the leading payment provider in the emerging markets of Latin America. Through its direct, flexible API, you will be able to access more than 250 payment methods in the region’s most strategic countries. Contact us!