Verifone has teamed up with PagBrasil to introduce an international Pix payment solution for Brazilian shoppers based in the United States.

This new partnership will allow Brazilian customers to use Pix, a digital payment system in Brazil, to pay in BRL while shopping in the US. It also opens up opportunities for US merchants to accept this Brazilian payment method.

The collaboration builds on an exclusive agreement signed between Verifone and PagBrasil, granting Verifone sole rights to offer international Pix payments in the US market through its hardware-agnostic, gateway-agnostic API. This means that businesses can activate International Pix at the point of sale without requiring system upgrades.

Key points about the Verifone and PagBrasil partnership

According to a recent press release, this initiative will offer seamless in-store payments for Brazilian tourists. By paying in their local currency through International Pix, customers can avoid foreign exchange fees and taxes associated with each transaction. This not only benefits the customer experience but also encourages discretionary spending. For US merchants, processing these transactions via Verifone incurs approximately 2% fees with no additional charges. Additionally, as real-time bank-to-bank transfers, Pix payments help minimize the risk of chargebacks, reducing overhead for businesses.

The partnership also aims to enhance the capturing of international sales and improve customer satisfaction or loyalty in a highly competitive retail environment. By focusing on these areas, Verifone and PagBrasil intend to stay ahead in the market.