Stripe’s network of businesses can now offer Brazilian customers the option to make Pix payments in Brazilian Reals with settlements available in the merchant’s domestic currency. This integration, facilitated by Latin American payments firm EBANX, is accessible to both businesses directly integrated with Stripe and those using e-commerce platforms built on Stripe’s infrastructure.

A Key Use Case for the Launch

One of the most effective ways to enhance international transactions in Brazil is by offering local payment methods. This approach can deliver significant results: data from EBANX indicates that merchants who support Pix increased their revenue by 16% and grew their customer base by 25% over a six-month period.

Capitalizing on Ubiquity

Pix has quickly become the predominant payment method in Brazil since its launch in 2020. The real-time payments system processed over six billion transactions per month last year, and 93% of Brazilian adults use Pix. Its widespread adoption is primarily due to its fee-free nature and instant transactions.

The platform has expanded its features, such as contactless payments, recurring payments, and a buy now, pay later service. These enhancements have further increased its popularity, making it essential for merchants seeking to enter the Brazilian market.

Options Are Effective

Reaching more customers in Latin America is one of Stripe’s goals, with Brazil being the largest market in the region. This initiative also marks a shift toward incorporating real-time payments after the company’s focus on crypto-related ventures recently.

Stripe already operates its own pay-by-bank platform, which was first launched in the UK and later expanded into France and Germany. Despite questions about the traction this platform might gain, certain options have proven effective. Stripe noted that merchants offering at least one additional relevant payment method beyond cards saw an average revenue growth of 12%.