B89, the Peruvian fintech company dedicated to providing 100% digital financial solutions, has announced that it is partnering with PagBrasil, a pioneer in developing cross-border global solutions for Pix, the most widely used instant payment system in Brazil.
This collaboration will allow B89 to offer Pix International to merchants outside Brazil including Panama, Colombia, Peru, Bolivia, Paraguay, Venezuela, and Ecuador. This allows Brazilian citizens either tourists or residents, to pay in Brazilian reais with a guaranteed exchange rate at the time of purchase, eliminating uncertainty in exchange rate fluctuations. Furthermore, transactions made through Pix Internacional are completely secure, ensuring protection for both customers and merchants.
By integrating Pix International, merchants in Latin American countries outside of Brazil can offer their Brazilian customers an optimized payment experience, attracting and retaining this important consumer segment. Key benefits include the ability for merchants to integrate Pix as a payment method in their app, website, or physical point of sale. Moreover, Pix offers lower fees compared to traditional payment methods, with no risk of chargebacks, helping merchants reduce operating costs.
“At B89, we are committed to creating cost-efficient, agile, and borderless financial solutions. This collaboration strengthens our mission to provide merchants with innovative tools to enhance their profitability and customer experience,” said Amparo Nalvarte, CEO of B89.
Alex Hoffmann, co-CEO and co-founder of PagBrasil emphasized: "At PagBrasil, we want to help create a more connected and efficient financial ecosystem for Brazilians - no matter where in the world they are. The partnership with B89 represents an excellent opportunity to expand Pix's reach globally, consolidating it as one of the most innovative payment methods in the world. This process began in May 2023 when we became the first Brazilian company to enable the use of Pix outside of Brazil."
With the expansion of Pix International, B89 and PagBrasil are transforming the way international transactions are conducted. This alliance promises to revolutionize both e-commerce and physical commerce in the region, offering an efficient, secure, and accessible solution for everyone.
Growth of Brazilian Tourism in Peru
Between January and July 2024, Peru received 107,793 Brazilian tourists, a 71% increase compared to the same period in 2023, according to Promperú. This growth positions Brazil as the fifth-largest source market for tourists to Peru, surpassing pre-pandemic levels when the country received 100,167 Brazilian visitors during the same period in 2019. Additionally, the average spending per Brazilian tourist in Peru in 2023 was 878 USD during their stay.
This significant increase in Brazilian tourist arrivals is a positive sign for Peru's tourism sector and represents a great potential market for the adoption of Pix Internacional.
For Peruvian merchants, adopting Pix Internacional will not only allow them to attract this growing segment of Brazilian tourists but will also optimize the costs associated with traditional payment method fees, making them more competitive. This integration will benefit both tourists and merchants, who will enjoy a more streamlined and smoother payment experience.