Unlimint Acquiring Team informs that they’re continuing to expand the payments portfolio and can now help you boost your growth even further in Brazil.
“In addition to our variety of local payment methods for the LatAm region, now we are ready to support our merchants interested in pioneering the Brazilian Market with PIX – a payment method for instant direct bank transfers, which is built and owned by the Central Bank in Brazil and operated by the Brazilian banks, digital accounts and wallets.”
Brazil is the fifth country in the world with the largest online population. It is predicted that in 2022, around 77.87% of the Brazilian population will have access to the web with the internet penetration rate in the region reaching 83% in just 3 years’ time. Today, PIX has 107.5 million registered accounts, accounting for more than half of the country’s population, and its payments volume is already equivalent to 80% of debit and credit card transactions.
Pix is a payment method that enables transactions to occur in less than 10 seconds, 24 hours a day, 7 days a week – including weekends and holidays.
By selecting Pix at the checkout page, users can either scan a QR Code using their smartphones or copy and paste a Pix code into their banking or digital wallet apps. After that, all they need to do is check the receiver’s information and confirm the action.”
Brazil’s central bank launched Pix in part to spur competition in the country’s banking industry. Bloomberg referred to the app as “ubiquitous” in Brazil in October 2021, a year after Pix’s release. As of November 2021, it has been reported that the system has already made more than 6 billion transactions totaling to an amount of 3.75 trillion BRL or about 682 billion USD. News: Today’s update from Unlimint Acquiring Team