Pix | Brazil's most popular payment method | All you need to know

Pix | Brazil's most popular payment method | All you need to know

Pix is an instant online payment method in Brazil. Today you are going to learn everything you need to know about it to be up to speed with Brazil’s current most popular payment method that is chargeback free. Check it out!

What is Pix?

Pix is an online payment method that is essentially an instant transfer facilitated by QR code (A Brazilian version of Zelle but much better and more widely used). It was created by Brazil’s Central Bank as a tool to facilitate transactions by smartphone.

Pix can be used for any kind of transaction, that includes transfers and payments. Since it’s online, it can be done at any time and the transaction is instant.

Pix is also way cheaper (and faster) than other debit and transfer options like Ted and Doc, being mostly free depending on your Bank account.

Another advantage is that Pix can be made from any kind of bank account: business, personal, savings or payment accounts

The whole idea about Pix is to make transfers easy, fast, safe and easily traceable.

Since its creation, Pix has dominated Brazil as the number one option for consumers. Especially now that some banks are offering Pix payments in installments, like PicPay.

Pix is also very popular with businesses in general since they are easy and instant, what makes it less of an issue for small businesses that had to process payments by credit card machines.

Compared to credit card machines that are expensive to rent in Brazil and include transaction fees, Pix can be done by smartphone, directly and with zero fees.

Why you should accept payments by Pix

Companies in the US have some catching up to do if they want to sell their products to Brazilians locally.

30% of all payments in Brazil are already made with Pix, so you should be looking for solutions that allow you to accept payments from Brazil by Pix if you’re in the market.

Spoiler alert, we are gonna show you how you can do that in the next session - feel free to skip to that part. 

Any decent online store in Brazil now offers payment by pix directly on their shopping cart.

The customer can either scan the QR code with their phone, or copy the code and paste it on their banking app to finish buying your product.

Since Pix is instant, the money can be transferred to your account in the USA way faster.

It’s also safer than credit cards since the debit must be made directly from the customer’s bank account (Bye bye fraudsters!) 

Considering other local payment options like boleto, Ted and Doc, Pix is the best by a long shot.

How to get paid by Pix locally from the USA

You don’t need a brazilian bank account or even a brazilian branch to accept payments by Pix.

All you need to do is go to CambioCheckout and create an account.

There your company will have access to our platform that is going to connect your bank account to our local payment system in Brazil.

You can either send your invoices manually with a payment link, or integrate your online store with our API.

After that your client will be transferred to the CambioCheckout shopping cart where he will be charged the price of the purchase in dollars.

The value will be calculated from USD to Brazilian reais (BRL) and then your customer can pay by Pix, Boleto or up to 12 installments with his national credit card.

Once the payment is made in Brazil, we’ll make sure that the full price of the purchase in USD is transferred to your bank account in the USA.

The process usually takes one day for Pix payments and it’s completely free of charge for your company.

All fees and taxes are passed on the your final customer and you have zero risk of chargeback.

Also, you don’t have to worry about your customer payment support, since we offer fully Brazilian Portuguese support for any issues on the payment along the way.