Pix is the latest payment method launched in Brazil and celebrated its first anniversary in November. The technology developed by the Central Bank of Brazil quickly became one of Brazilians’ favorite payment methods – on its anniversary, it has reached over 100 million users and has become the world’s fastest-adopted instant payment system.
The Fintech & Regtech Global Awards 2021 awarded this payment technology as one of the most ground-breaking payment solutions of the year.
Pix and E-commerce
Over half of Brazilians have already made an online purchase with Pix, as shown by research carried out by PagBrasil and E-commerce Brasil. In the same survey, nearly 60% of participants advised they had given up on purchases because of the lack of payment options, and Pix is helping to reduce that number.
What to expect from Pix in 2022
With such tremendous success, Pix, the payment method shaping how Brazilians make their payments, is expanding. In 2022, according to the Central Bank of Brazil, there will be more functionalities to come. Let’s have a look at them.
Automatic Recurring Payments with Pix
E-commerce is growing globally, with opportunities for subscription-based businesses to expand into many markets. Recurring payments are one of the biggest payment trends in 2022. The Central Bank of Brazil will allow automatic recurring payments with Pix for companies operating on a subscription-based model.
Similar to credit cards, Pix will allow merchants to make future charges. This functionality will let users collect extra fees, fines, discounts, and interest fees.
The modality was announced this year, but it is still just a promise for 2022. With the contactless option, it will be possible to make payments simply by tapping the buyer’s smartphone on the contactless card reader.
Besides that, according to the Central Bank of Brazil, they will soon launch a card that allows consumers to make their payments offline, with no need to connect with the internet.
Like installment payments offered by credit card operators, the modality Pix Crédito – also called Pix Garantido (in English, Pix Credit) — will qualify users to choose whether they wish to pay in installments or opt for a one-off payment. However, this service isn’t included in the 2022 plan, so there is no estimate on when it will be launched.
Pix Will Be Accepted in International E-commerce Transactions
The Central Bank of Brazil’s latest announcement says that an international e-commerce website will be able to receive payments with Pix. The option is an excellent opportunity for merchants selling in Brazil who wish to boost their sales.
PagBrasil Pix: Instant Payment for Online Businesses in Brazil
PagBrasil Pix can be easily integrated into online stores via API. In addition, PagBrasil Pix is also available in Shopify, VTEX, and WooCommerce integrations.
Want to offer the best payment experience for your consumers in Brazil with Pix? Watch the video below to learn more about PagBrasil Pix and get in touch today!