Bexs presents its latest solution to the international market: connecting its cross-border payment platform, Bexs Pay, to Pix, an instant payment system implemented by the Central Bank of Brazil (BCB) that allows online international businesses to offer Pix to its Brazilian customers, making the cross-border experience increasingly local. This new tool, which promises to further narrow the distance between the largest Latin American market and other nations, is announced in the midst of Money 20/20, one of the most important fintech events in the world, held in Amsterdam, the Netherlands, from September 21st to 23rd.
In a very short time, Pix has consolidated itself among Brazilians due to its rapidity, immediacy, practicality, and competitive cost. The system is based on registering (personal or corporate) payment keys, which can be emails, telephone numbers or the Brazilian social security number (CPF). Currently, there are almost 300 million keys registered with such contactless payments tool, which is putting more traditional alternative payments methods, such as debit card, bank slips and bank transfers, into the background.
Bexs has operated as a bank in the foreign exchange market for over 30 years, and over the past ten years, has played a pioneering role in international digital payments development in Brazil. Bexs has facilitated access of global players from a range of industries, especially e-commerce and SaaS, to a market estimated at more than 100 million Brazilian e-shoppers. Its digital solutions, which combines local payment methods digital currency exchange , has already attracted customers from a range of regions around the world, especially in Europe, North America and Asia. Among its main partners are the Chinese giant ByteDance, owner of the TikTok application; the American brokerage firm Avenue Securities; B2W, one of the largest e-commerce companies in Brazil and the on-demand streaming platform FanHero.
In general terms, the Bexs Pay platform allows Brazilians to access foreign products and services paying with local currency and through local methods (PayIn), such as credit cards, debit cards (with installments), bank transfers and, more recently, Pix. This tool also makes it possible to transfer money to Brazilian companies and citizens (PayOut), also using the Pix system, which makes transactions much more agile. Bexs has surpassed the one million daily PayOut transactions mark using Pix for TikTok, in a campaign to award Brazilian micro-influencers carried out this year.
“In a surprisingly short period of time, the system implemented by the BCB has been consolidated among Brazilians. There are currently more than 102 million users in the country using this payment method, which is outclassing the more traditional methods”, says Luiz Henrique Didier Jr., CEO of Bexs. “Without a doubt, its speed, simplicity and competitive cost explain this massive adhesion. The system is now also gaining ground in the e-commerce environment, in QR Code format”, he points out.
Pix’s arrival in e-commerce coincides with a boom in the sector in Brazil. According to the 43rd edition of the Webshoppers study, carried out by Ebit | Nielsen and Bexs, in 2020, domestic e-commerce experienced 41% growth in revenue. When considering international e-commerce, in online purchases made by Brazilians abroad, this increase reached 76% in the period – which also reflects 13 million new e-shoppers.
“The expressive numbers of Pix and the insertion e-commerce has achieved in Brazil since the beginning of the pandemic show us an ocean of opportunities to be explored. Bexs’ solution allows international companies to offer Pix to their customers, ensuring convenience, speed and a smooth experience, without the need to establish a legal entity in Brazil”, adds Didier. The Bexs payment platform and the Pix solution are fully customizable and can integrate with different segments of the digital industry besides e-commerce, such as SaaS, streaming, edtechs, gaming, among others. Pix has great potential in Brazil; it is currently the most inclusive payment method and benefits everyone involved in the process, customers and payees alike.