Brazilians visiting Argentina will soon be able to make purchases using Pix, thanks to an initiative by US fintech company Fiserv.
This feature is expected to simplify transactions for Brazilian tourists, eliminating the need to exchange currency. However, the launch date for this service has not been specified yet.
Payments will be processed via QR codes.
When this method is selected, the payment terminal will display the amount in Brazilian reais, including the currency conversion cost and the IOF (tax on financial operations) associated with foreign exchange transactions.
Jorge Valdivia, a Fiserv executive in Brazil, spoke to Folha de S. Paulo, saying, “As Fiserv operates in several countries in the region, we can adapt technologies locally, improving the experience of our customers and, in this case, the people who visit Argentina.”
On June 7, 2023, Pix recorded its highest-ever single-day transaction volume with 124.7 million transactions.
This number exceeded the previous record set on May 5, 2023, which saw 124.3 million transactions, according to the Central Bank of Brazil (BC).
The BC stated that since its introduction in November 2020, Pix had become Brazilians’ most popular payment method.
The monetary authority attributes this growth to Pix’s ease of use and lower cost than other digital transactions (TED and DOC).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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