PagBrasil, the premier online payment processing service for Brazil, just announced Boleto Express, an enhanced form of the popular Brazilian payment method boleto bancário.
Although credit and debit card payments continue gaining ground in online payments, boleto bancário still accounts for more than 30% of all online payments in value. Business clients, in particular, prefer boleto payments, as it provides the easiest way to process payments for businesses with a certain organizational structure.
When using boleto bancário, merchants and end users struggle with delayed payment confirmations and the lack of a refund option, in comparison with card payments. Usually payment processors confirm boletos within 2 to 5 working days. An additional drawback is the fact that the boleto system itself has no refund function and banks and most payment processors don’t offer a solution for that need.
In order to overcome these issues, PagBrasil offers Boleto Express, providing an accelerated payment confirmation and automated refunds. The company guarantees confirmations for paid boletos until 10 am Brazilian time of the next working day, a novelty in the industry. Refunds can easily be processed via API or web portal and the funds are transferred same-day so that the buyer always receives the credit to his bank account within 24 hours.
Alex Hoffmann, co-founder and CEO of PagBrasil, comments: “Our intention was to create the best solution for merchants and Brazilian buyers. We believe that Boleto Express, in combination with enhanced functions such as defining the boleto expiration period individually for each boleto, is the best solution available on the market today. Increased customer satisfaction, reduced customer support cases and faster payment flow are the key advantages.”
About Boleto Bancário
Boleto Bancário is an official push payment method regulated by the Brazilian Central Bank. The payment process for boleto bancário transactions is similar to wire transfer or cash payment methods. Buyers are provided with a prefilled boleto bancário bank slip and have the option of printing the form and physically paying with cash at any bank branch or at authorized processors such as drugstores, supermarkets or post offices. Boletos can also be paid electronically at any of the more than 48,000 electronic banking points in Brazil or through Internet banking, which is largely used in Brazil.