Verifone has announced its partnership with PagBrasil to launch an international Pix Payment solution for Brazilian shoppers in the US.
Following this announcement, the new in-store alternative payment method will enable Brazilian customers to pay in BRL using Pix, while shopping in the US. The launch will also give US merchants and busiensses the possibility to accept the Brazilian payment method.
The initiative follows the signing of an exclusive agreement between Verifone and PagBrasil, aiming to provide Verifone with the sole rights to offer the Brazilian company’s International Pix payments in the US. In addition, merchants will be enabled to activate International Pix at the POS through the use of Verifone’s hardware-agnostic, gateway-agnostic APM API without needing to upgrade existing systems.
More information on the Verifone x PagBrasil partnership
According to the official press release, the initiative will offer frictionless, less costly in-store payments for Brazilian tourists, as International Pix will provide them with the possibility to pay in their local currency. This process will allow them to save on foreign exchange conversion fees and taxes per transaction, while also developing an experience that encourages discretionary and repeat spending. At the same time, the partnership is set to lower processing costs and fewer chargebacks for US merchants, as International Pix transactions via Verifone are processed at approximately 2% with no additional fees. As a real-time bank-to-bank transfer, Pix payments will also help avoid the risk of chargebacks, reducing overhead for merchants.
Furthermore, with International Pix being currently available in the US, Verifone and PagBrasil will focus on optimising the manner in which merchants and businesses capture more international spend, as well as boost customer satisfaction or loyalty, and stay ahead in the increasingly competitive retail landscape.
