This partnership aims to eliminate the need for currency exchange or carrying cash. Bancard will offer this service to banks in Paraguay for greater convenience and financial accessibility for travellers.
Accordin to Paraguay’s National Directorate of Migration, Brazil is the top destination for Paraguyans, with 236,320 Paraguayan travellers visiting Brazil in 2024. Brazil’s appeal lies in its proximity, similar language, and diverse destinations, from cities to beaches. Knowing this, Bancard partnered with PagBrasil to offer a secure payment option for travel enthusiasts, overcoming traditional barriers.
Pix is a payment system created by the Central Bank of Brazil that allows users to send and receive money instantly, 24/7, including weekends and holidays, which is an advantage for Paraguayan travellers.
The implementation of PagBrasil’s Pix Roaming enables foreigners to make payments in Brazil through Bancard’s technology and Paraguay’s financial institutions via QR codes.
Tourists using Pix benefit from a safe and convenient alternative to cash that eliminates the need for currency exchange, the ability to utilise their preferred financial or banking app, cost-effectiveness, and better control over expenses. Pix is accepted at a wide variety of establishments in Brazil, from retailers to small merchants at the beach. Additionally, many stores offer discounts for Pix payments, further encouraging adoption.
PagBrasil is committed to expanding Pix beyond Brazil’s borders and providing a solution that enables fast and secure payments for Brazilians abroad. This is projected to benefit both travellers and merchants in the country, driving international trade and tourism. The company aims to use Pix’s system to improve the payment experience for Paraguayans while promoting regional integration.
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