Fintechs take advantage of BC vacuum and internationalize Pix – 06/17/2023 – Panel SA

Without a Central Bank regulation on the use of Pix abroad, payment companies have started an expansion plan in Latin America, USA and Europe.

Since implementing Pix, still at the beginning of the pandemic, BC is preparing to spread the system in other countries. The plan, however, remains on the back burner.

The autarchy says it is holding talks with other central banks in Uruguay, Peru and Colombia, but nothing has been agreed so far – which would allow full coverage in these countries.

In view of this, private groups have stepped forward and are breaking new ground in the market, closing partnerships with large retailers in each country.

At the end of last year, Grupo Rendimento, for example, took its payment platform via Pix to Paraguay.

The operation should arrive in Argentina on the 26th. Uruguay and Chile will be covered from July.
With the system active in registered stores, Brazilians can make purchases using the QR code reader in the bank’s own application.

At the time of payment, the final price is already presented with the updated exchange rate and the IOF of the operation, of 0.38% —a value below the 6.38% of the credit card.

“Payment through international Pix is ​​very fast and efficient. It’s good for Brazilians because they don’t have the need to acquire currency or carry cash. There’s also no credit card cost. It ends up being more affordable”, says Luiz Citro, Superintendent Comercial do Rendimento.

The bank intends to take Pix to France and England later this year. Italy, Spain and Panama will be next, but no date has yet been set.

As Panel SA showed, the North American Finserv started operating with Pix in Argentina this month.

PagBrasil should also offer the service in Argentina, Uruguay and the USA.

“PagBrasil wants to be where Brazilians are. In these countries, the solution will be fully operational in the 2023/2024 summer season, with significant adherence”, explains Alex Hoffmann, CEO of the company.

With Diego Felix

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