How Pix helps software companies reach Buyers in Brazil The Pix Company helps Brazilian software companies reach buyers in Brazil

navigating the maze of cross-border payment options can be a challenge for any software business that is going to the global market. In addition to juggling several currencies, offering a range of payments across different regions there are challenges to be faced.

Because of this, businesses that sell into Brazil have embraced Pix. Not only is it the only payment option that's fast and simple and accessible to anyone with an account with a bank in Brazil and has become one of the largest payment methods in the region.

In this piece we'll explain the way Pix functions and the reasons why it's important to take it into consideration at the time of the point of purchase if you're conducting business in Brazil.
Table of Contents

1. What exactly is Pix?
2. How does Pix function?
3. Pix advantages and disadvantages.
4. The's Pix experience.

 What's the Pix?

Pix is a method of payment that enables its users to transfer or send payments in a matter of seconds even on days that aren't business. In Brazil, Pix is a payment method that tends to offer lower costs of acceptance because it doesn't need many intermediaries.

In contrast to other payment options, Pix has a few specific requirements:

Pix was launched to modernize transactions within Brazil with a speedy, affordable, and safe user experience to both business and users. The company not only assists in promoting financial inclusion in Brazil but also reduces financial costs and increases security for purchasers from Brazil.

 What is the reason it's so Important to Allow Pix?

Pix is expected to be responsible for 40percent of overall amount of digital commerce transactions in Brazil in 2026. In addition, Pix is expected to comprise 20 percent of the totaldigital commerce transactions within the entirety of Latin America by the same year. That means that businesses accepting Pix have access to millions of transactions each year that they would otherwise not be able to get access.

 What is Pix?

Pix operates similarly to payment methods in the EU such as SEPA and other "Account to Account" (A2A) transactions across the globe however there are a few differences. This is the way Pix functions from a retailer's view:

1. Allow Pix.
2. Choose a Form of Payment.
3. Delivery Notification.

Step 1: Enable Pix

Pix is available exclusively via service channels offered by financial and financial institutions located in Brazil. Individuals looking to use Pix are automatically granted access to Pix through the mobile app of their bank. Business customers can use the Pix app. Pix can be obtained through a partner institution via redirecting at the point of the purchase.

 2. Select a Form of Payment

Pix offers two forms of payment collection. One is a Pix alias, or the scanning of QR codes. The Pix name is saved within the cell phone of a user and can be used to initiate a payment. Also, a QR code is generated by the payer to start processing the payment.

 Step 3: Deliver Notification

Once an Pix transaction is completed, both parties who participated in the transaction are informed about the progress of the transaction, whether it's been complete or not. After that, funds are transferred after the completion of every transaction. This confirmation provides both parties with the certainty that payment and money were transferred, or the knowledge that it didn't go through.

 Pix Advantages and Disadvantages

 Advantages

Pix has several advantages for firms:

• One stop solution for the unbanked: Pix reduces the dependence on complicated identification processes. The transactions can be initiated with more simple unique identifiers like CPF ( "Cadastro de Pessoas Fisicas" which translates to "Individual taxpayer registry" ) and makes it easier for the unbanked population to engage in digital transactions.
• Available to all:Pix is designed to be interoperable across different banks and financial institutions throughout the region. This will help avoid expensive cross border payments. This creates a stronger financial ecosystem.
• Instant payment settlements:Pix operates 24/7, allowing customers to conduct transactions anytime -- offering increased flexibility for your customers.
• Creates trust and increases security:Pix incorporates advanced security techniques, creating a safer and safe environment for transactions online and reducing the risk associated with payment methods that are not encrypted.

 Disadvantages

Pix isn't the best alternative for:

• Payments that are not made in Brazil: As a payment option that operates only within Brazil and the Brazilian market, companies that don't have a presence within the country won't be able to accept transactions using the Pix.
• Large-scale B2B transaction:Per limits enforced by Brazilian banks, businesses that has a transaction of greater than BRL 100,000 (about 10,000 USD) will be unable to use Pix for the purpose of facilitating the payment. Therefore, they'll need find other methods for payment.
• Recurring transactions Customers who sell automatically recurring products are unable to make use of Pix to make the transactions. It is possible to use the Central Bank of Brazil plans support for the latter half of 2024 but until then the user will require a different payment option.

Check out our documentation to discover the basics of how Pix is able to work with HTML0..

 "'s Pix Experience

Our platform is automatically enabled Pix for all users who offer Brazilian Real (BRL) in their contextual store. We then take care of all the steps to process your buyer's order, so there is no need for you to change anything other than enabling BRL as a payment method for your items.

 What does that look in the eyes of your potential buyer:

1. The client chooses Pix as the payment method.
2. The requester is asked for the required personal information. If the client already has data, they can create an appointment without asking for the information.
3. The customer is redirected directs them to the partners Pix page.
4. On the page of the partner, the customer provides their CPF (Cadastro de Pessoas fisicas) number. It is required by Brazilian transactions.
5. When the customer has confirmed their details, the partner generates the QR code.
6. The buyer has all day to verify the transaction and scan the code to complete the payment. The payment status will be "Pending payment".
7. If the transaction doesn't get done within 24 hours of the transaction, instantly cancels the transaction.
8. Once the customer successfully completes the payment process, displays the order's confirmation.

Braden Steel   Braden is the Senior Product Marketing Manager of . If he's not working on bringing innovative products on the market, Braden spends his time writing fantasy stories.