Claro obtains PI licence with over EUR 43 million in capital

Claro Pay was introduced by the telecom operator in 2020. This digital account enables users to perform transactions through Pix, pay bills, make ATM withdrawals, and recharge their cell phones, offering additional perks for Claro Prezão prepaid plan customers. In 2024, the company also ventured into the acquiring market through a partnership with Fiserv.

This approval allows Claro Pay to function in electronic money issuance (prepaid payment accounts) and as a Payment Transaction Initiator. For the telecom provider, this offers several advantages: 

• decreased expenses for prepaid top-ups;

• lower billing costs for postpaid plans;

• additional revenue streams through AI-driven direct marketing by using extensive customer data for targeted advertising.

Other companies entering Brazil's financial landscape

In early 2025, alongside Claro, the Central Bank of Brazil granted PI licences to several other companies. Notably, AstroPay received its licence in January, enabling it to provide faster, simpler, and more efficient financial services for both local and international users and businesses. With AstroPay's "Pix for Foreigners," international visitors could make instant payments in Brazilian reais, allowing small businesses to conduct transactions conveniently while evading the high fees typically associated with credit cards.

Another company that recently announced the receipt of a Payment Institution (PI) licence was PagBrasil. Securing the licence in just six months highlighted the fintech's capability to navigate the compliance process effectively and develop Pix extensions that upgraded the financial well-being of the region's residents and the tourism sector. Furthermore, this development contributed to the advancement of digital payment solutions in the area.