Pix Goes Global: Foreigners Can Now Pay Seamlessly in Brazil

Pix has become a staple in Brazil’s financial landscape. With 163 million users and a 58% increase in transaction value in 2023, its popularity is undeniable.

Now, the instant payment system created by the Central Bank is extending its reach to international tourists, making it easier for them to make payments in Brazil.

This expansion couldn’t come at a better time. Brazil saw a 7.4% rise in international tourists in early 2024, welcoming 2.92 million visitors compared to 2.71 million last year.

This surge marks the third-highest tourist influx in history, following 2018 and 2017. Tourists spent about $6.9 billion in Brazil in 2023, according to Embratur.

In addition, enter PagBrasil, a fintech based in Porto Alegre with offices in São Paulo, Barcelona, and Singapore.

In June, they will launch a new feature allowing foreigners to use Pix through their own banks or digital wallets.

How Pix Roaming Works

Pix Roaming integrates with foreign banks and digital wallets, letting tourists use Pix in Brazil. Users will scan a Pix QR code with their existing banking app.

The amount in reais converts instantly to the foreign tourist’s currency.

Once the payment is confirmed, PagBrasil settles the amount in reais with the merchant using the payer’s digital wallet or bank funds.

“The exchange rate is transparent,” says Ralf Germer, co-founder of PagBrasil. “Consumers see the amount in reais and its equivalent in their currency.”

For Brazilian merchants, nothing changes. They can receive payments from foreigners just as they do from locals.

“South American consumers are familiar with QR codes, making the transition to Pix easy,” adds Germer.

Economic Impact and Future Projections

PagBrasil expects significant growth from this new feature. They project revenues of R$1 billion by the end of 2025 and R$2 billion by 2026.

“We believe we can exceed these projections,” says Alex Hoffmann, CEO and co-founder of PagBrasil. “Integration with major banks in Argentina could accelerate our offering.”

A Simple Example

Imagine a tourist from Uruguay. They scan a QR code, confirm the amount, and make an instant payment.

“Each partner can customize the user experience, but we’ve created a standard for ease of use,” Hoffmann explains.

Partnering across the Americas

PagBrasil is in talks with digital wallets and banks in Latin America and Central America.

In addition, their first confirmed partner is the Peruvian digital wallet, B89. Mauricio Albán-Salas, founder of B89, brings experience from Itaú, Santander, and IBM.

Peru is a key partner. In 2023, 100,000 Peruvian tourists visited Brazil, with 35,594 visiting in early 2024.

Expectations are for 130,000 visitors by year-end. PagBrasil is also in discussions with Argentina, Uruguay, Chile, and Costa Rica.

Currently, no direct competitors offer this service in Brazil. “Our ‘Boleto Flash’ was our flagship product, but Pix’s introduction in 2020 changed the game,” Hoffmann notes.

“We developed several products, including International Pix for Brazilians abroad and now Pix Roaming for foreigners in Brazil.”

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