Diswitch, global leader in Integrated Financial Technology, and Banco Recalimiento, one of the most active banks in Brazil, just launched a solution that promises to transform cross -border payments: now the Brazilians who travel through Latin America can continue to use Pix, their favorite payment method, as if they were in Brazil.
THE INTERNATIONAL JUMP OF PX
Since its launch in November 2020, the Pix instantaneous payment system has revolutionized the way money moves in Brazil. With almost 150 million registered users and more than 3,000 million monthly transactions (only in March 2023), the tool has established itself as a reference in efficiency, safety and mass adoption.
Now, its expansion outside the Brazilian borders will allow people and companies in Latin America to access more agile, traceable and transparent payments, benefiting from one of the most important financial innovations in the region.
International pix
The use of PX abroad solves several of the main obstacles in international payments:
- Instant currency conversion and with better fees control.
- Greater security and traceability in each transaction.
- Ease of use, allowing paying directly from a Brazilian account in reais.
In addition, a key benefit is added: Transaction Tax (IOF) is just 0.38 %, much less than 5.38 % that applies to international purchases with credit card.
Transparency and user experience
According to Roger Ades, director of the Recuence Bank, the system was designed with total focus on the customer experience: “The most interesting thing at the time of purchase is that customers clearly see the amount in dollars and the final amount in real before confirming the payment.”
For Ronald Alvarenga, CEO of Diswitch, the initiative also responds to a need for the digital ecosystem in the region: “The growth of electronic commerce in Latin America requires better payment methods. In Inswitch we are proud to collaborate with Recallo Bank to democratize access to financial services, with a solution proven as Pix”.
A new chapter for digital payments
This alliance not only marks a key step in Pix’s international expansion, but also opens opportunities to strengthen financial inclusion, reduce businesses operating costs and offer more options to consumers.
