Stripe’s business network will enable its customers in Brazil to accept payments via Pix, the Brazilian real-time payment system, with settlements available in the merchant’s local currency. This integration is facilitated by EBANX, a Latin American payments firm.

Capitalizing Upon Ubiquity

Pix has rapidly become one of Brazil’s most prevalent payment methods since its launch in 2020. Processing over six billion transactions per month, Pix is now used by 93% of Brazilian adults for their financial transactions.

Its fee-free nature and real-time transaction capabilities have driven the platform to surpass credit cards as the leading method of payment in Brazil. Pix has expanded its reach through new features such as contactless payments, recurring payments, and a buy now, pay later service, further cementing its position in the market.

Options Are Effective

This integration aligns with Stripe’s goal of expanding its customer base in Latin America, particularly in Brazil. The country is the largest market in the region for the company. Additionally, it signals a shift towards real-time payments, following Stripe’s recent focus on digital asset ventures through acquisitions like stablecoin company Bridge and crypto wallet Privy.

While questions exist about the adoption rate of this platform, the data suggests that offering multiple payment methods can boost revenue growth. Merchants who integrated at least one additional relevant payment method beyond traditional credit cards experienced an average revenue increase of 12%.