Aeon Enables Crypto-to-Fiat Payments via Pix QR Codes in Brazil

Aeon now enables Brazilian users to pay with cryptocurrency assets while merchants receive Brazilian Real via the nation’s instant payment network, Pix.

The capability is powered by the company’s new Scan-to-Pay feature that it added to its Web3 mobile payment solution, Aeon Pay, in Brazil, according to a Wednesday (Sept. 3) press release.

The integration allows Brazilian users to pay at any merchant that supports Pix QR codes, according to the release.

To use the payment method, users scan the merchant’s Pix QR code and select a crypto and wallet, the release said. Aeon automatically settles the payment to the merchant in Brazilian Real via Pix.

For merchants, Aeon Pay provides access to crypto-powered payments with no need to manage crypto holdings or integrate a hardware solution, per the release. Plus, by using Pix, the solution delivers this experience with effective transaction costs of around 0.8%.

The new integration joins the Web3 payments Aeon Pay enables for more than 20 million merchants and over 10,000 global brands in Vietnam, the Philippines, Nigeria, Mexico and Brazil, according to the release.

“With this latest expansion into Brazil and continued rollout across Latin America, Aeon is furthering its mission to weave crypto into everyday life,” the release said.

PYMNTS reported in August 2024 that while bitcoin and other digital assets have made strides in being accepted by a growing number of merchants, hurdles remain in proving their utility and scalability.

The hurdles include the inherent volatility of cryptocurrencies, regulatory uncertainty that raises potential legal and compliance risks, and scalability.

Aeon introduced an authorization payment feature built on the TON blockchain in December, saying the move “enhances the usability of blockchain technology in everyday scenarios.”

The company said at the time that by using the TON blockchain infrastructure, it can support a range of cryptocurrencies and wallet integrations, letting users easily pick their preferred payment method.

In November, Aeon launched cryptocurrency payments on the BNB Chain, bringing a streamlined QR code payment system to BNB with Terminus to expand crypto payment accessibility in Southeast Asia.

The company said at the time that the solution is designed to improve convenience for users and merchants.