PayRetailers Integrates Brazil’s PIX Into All-in-One Payment Platform

PayRetailers has integrated PIX into its all-in-one payment platform.

With the integration of this real-time payment system of Brazil, PayRetailers can help international businesses offer this secure, instant payment method, the company said in a Tuesday (June 27) press release.

“PayRetailers understands the immense potential of PIX and has integrated it for the benefit of its merchants, adapting to the specific needs of Brazilians,” the company said in the release.

PIX has become the preferred payment method in Brazil as it has been widely adopted by businesses and enables instant payments for everyday transactions, according to the press release.

With the integration by PayRetailers, merchants can offer PIX as a payment method that gives greater control over shared data, enables transactions that are faster and more seamless than traditional payment methods, and eliminates the need for customers to share their card details, the release said.

“PIX represents a great opportunity for cross-border merchants with over 45 million users and its real-time transaction system, which is faster for making digital payments, thus increasing the online purchase of goods and services by Brazilian consumers,” PayRetailers said in the release.

The PIX instant payments platform was launched at the end of 2020 by the Central Bank of Brazil and has been described as “a government-built version of Venmo.”

PIX quickly ballooned in popularity and is now used regularly by 6 out of 10 Brazilians, as reported in the “Digitizing Payments in Latin America Playbook,” a PYMNTS and Kushki collaboration.

The report also noted that 59% of Brazilian consumers said they had given up on an online purchase because of a lack of digital payment options.

The announcement of the integration of PIX by PayRetailers comes about 15 months after the firm acquired online payments platforms Paygol and Pago Digital to bring together the fragmented eCommerce sector across Latin America.

“Countries, communities, companies and individuals are being transformed by eCommerce,” PayRetailers Founder and CEO Juan Pablo Jutgla said when announcing the acquisitions in April 2022. “Hyper-local access to vast international markets will generate new investment, jobs, education and opportunity for millions across our continent.”