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PagBrasil receives payment institution licence

PagBrasil, a technology company focused on digital payments, has received authorization from the Central Bank of Brazil to operate as a Payment Institution (PI) in the electronic money issuer category.

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The Central Bank granted this license to PagBrasil in just six months—a record time—highlighting the fintech’s efficiency in navigating the rigorous compliance process and creating Pix extensions that benefit the financial well-being of Brazil's citizens and the tourism industry. This achievement marks a significant milestone in the expansion of digital payment solutions.

PagBrasil has already introduced two innovative extensions for the Central Bank’s Pix Instant Payment: International Pix and Pix Roaming. These solutions enable tourists visiting Brazil and Brazilians traveling abroad to make payments using Pix Instant Payment.

According to Alex Hoffmann, CEO and co-founder of PagBrasil, the Central Bank of Brazil has gained global recognition for fostering innovation of fintech products through regulatory sandboxes with reduced requirements. “The regulator allowed companies to develop certain financial products and services without needing a full license, which, in recent years, has driven massive financial inclusion. However, there are indications that we are transitioning to a new regulatory stage as the market becomes more mature and less concentrated,” he explains.

The PI license enables PagBrasil to create additional innovative products, expanding and diversifying its portfolio, like PagBrasil’s current Pix-related products: International Pix, which allows Brazilians to make Pix payments abroad, as well as Pix Roaming, which enables foreigners to use Pix while in Brazil. The license also permits these products to support transactions exceeding USD 10,000 and cash withdrawals abroad—a valuable feature in countries like Mexico, where physical currency is still widely used.

“The PI license is a testament to our strength, now officially recognized by the Central Bank. It opens important doors for product development and further solidifies the credibility PagBrasil has built over its 15-year history. With this milestone, we are even more committed to democratizing access to financial services and addressing the needs of an increasingly connected world,” Hoffmann adds.

The Success of Pix:
In January 2025, Pix surpassed 171 million registrations, and more than 151 million people are active users (approximately 70% of Brazil's total population). Given that Pix is now responsible for 90% of bank transactions in Brazil, PagBrasil is providing businesses and consumers with innovative means to leverage Pix in and outside of the country. Pix saves consumers and merchants exorbitant transaction fees, and merchants receive immediate payment rather than waiting up to 30 days for credit card payments.

International Pix Gains New Partners and New Markets:
The number of countries accepting PagBrasil’s International Pix has recently increased, thanks to collaboration with local partners, like B89. The Peruvian fintech company, dedicated to providing 100% digital financial solutions, just announced it is partnering with PagBrasil to offer International Pix to merchants in multiple Latin American countries including Panama, Colombia, Peru, and Bolivia. This allows Brazilian citizens, either tourists or residents, to pay in Brazilian reais with a guaranteed exchange rate at the time of purchase, eliminating uncertainty in exchange rate fluctuations.

Another International Pix partner is Wipay, a Spanish company specializing in payment technology, which has announced the arrival of the Pix Instant Payment System in Europe, in collaboration with PagBrasil. This collaboration between Wipay and PagBrasil will make transactions more convenient and cost-effective for Brazilian tourists in regions throughout Spain and Portugal, offering a unique experience during their stay.

PagBrasil continues expanding International Pix to markets such as in Latin America, including Argentina, Uruguay, Mexico, and Chile. Additionally, International Pix will be available in various regions of the United States and several European countries, including Spain, Portugal, and the Netherlands.

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