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dLocal becomes Payment Initiation Service Provider for PIX

Tuesday 26 November 2024 14:55 CET | News

Cross-border payments platform dLocal has received certification as a Payment Initiation Service Provider (PISP) from Brazil's Central Bank.

 

This designation allows the company to process Pix payments directly within Brazil's Open Finance framework, simplifying the payment process by eliminating the need for users to switch to banking apps during transactions. Brazil's Open Finance ecosystem, backed by major banks such as Banco do Brasil, Bradesco, Itaú, and Nubank, covers 92% of the nation's banked population. By integrating with this framework, dLocal aims to improve the efficiency of digital transactions in the country. 

The PISP certification builds on dLocal’s recent regulatory progress in Brazil, including the receipt of a Central Bank licence in July 2023. The company now offers direct Pix payment initiation, allowing for quicker and simpler transactions. For instance, users leveraging Smart Transfers can avoid additional steps such as authorizing payments through separate banking applications. 

Payment initiation allows Pix payments to be processed more quickly, eliminating extra steps for users. Moreover, by reducing friction during the checkout process, businesses may see higher completion rates for transactions.

 

Cross-border payments platform dLocal has received certification as a Payment Initiation Service Provider (PISP) from Brazil's Central Bank.

 

More information about Pix

Pix, developed by the Central Bank of Brazil, is an instant payment system enabling users to transfer funds between accounts in seconds, even outside business hours. The system has a lower operational cost compared to traditional payment methods due to its reduced reliance on intermediaries. 

Pix operates alongside established payment methods in Brazil, including TED, DOC, bank slips (Boletos), and credit or debit cards, giving users a wide range of options depending on their preferences.

About dLocal

dLocal provides payment services in emerging markets, connecting global merchants with consumers across Africa, Asia, and Latin America. Its ‘One dLocal’ platform consolidates payment processes with a single API, contract, and system, streamlining transactions for businesses operating internationally.

For more information about dLocal, please check out their detailed profile in our dedicated, industry-specific Company Database.


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Keywords: payment initiation, expansion, PIX, cross-border payments
Categories: Payments & Commerce
Companies: dLocal
Countries: Brazil
This article is part of category

Payments & Commerce

dLocal

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