The most recent update allows payment confirmation in less than two hours, allowing Brazilian banks to accelerate payment confirmation.
The Boleto Flash network of partner banks already included Banco do Brasil, Bradesco, Itaú, Santander e Caixa Econômica. In addition, it served the unbanked population, who pay their boletos at the more than 13,000 lottery agencies in Brazil.
Launched in 2015, Boleto Flash aims to solve the major problems of the traditional boleto: delayed payment confirmation and non-responsive layout. It provides merchants with the ability to define the expiration date individually for each boleto issued, as well as the option to change the date after issuing.
According to a study by Segmento Pesquisas in partnership with PagBrasil, almost 47% of consumers are used to paying with boleto bancário when buying online, and 23.8% state that this is their preferred payment method, with the number rising to above 30% among lower-income groups and younger consumers aged 18-24.
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