Stripe merchants just gained a competitive edge in Brazil’s booming digital economy, empowered with Pix payments, used by 93% of Brazilian adults, through EBANX.
Stripe has partnered with Latin American payments platform EBANX to enable businesses worldwide to accept Pix, Brazil’s instant payment system.
With the new integration, Stripe merchants can process Pix transactions in Brazilian reais while receiving settlements in their own local currencies.
The move opens access to Brazil’s vast e-commerce market, where Pix, an instant payment platform created by the Central Bank, is used by 93% of adults and is expected to overtake credit cards in online purchases by year-end. With 60 million Brazilians lacking credit cards, and 43% of local consumers interacting with Pix daily, the collaboration gives Stripe sellers a major boost in expanding their Brazil market reach.
Krishnan Rajagopalan, Stripe’s global head for Expansion, Strategics, and Incubation Partnerships, highlighted that in global commerce, offering preferred local payment options can be just as crucial as the products themselves, as familiarity and trust in payment methods strongly influence purchase decisions. Stripe’s research shows that businesses adding at least one relevant payment method beyond cards saw, on average, a 12% boost in revenue and a 7% rise in conversion rates.
EBANX’s analysis, based on data from Payments and Commerce Market Intelligence (PCMI), the World Bank, and Brazil’s Central Bank, supports this view. Their findings show that providing local payment methods in cross-border transactions can double the potential consumer base in Brazil compared to using only international acquirers. Merchants offering Pix reported a 16% revenue increase and a 25% growth in customer numbers within six months.
Pix enables direct real-time transfers between bank accounts. To complete an A2A payment, users simply scan a QR code or enter a Pix code in their banking app to authenticate and confirm the transaction. This kind of payment method is getting increasingly popular on all continents, projected to increase in volume from 60 billion in 2024 to 186 billion by 2029.
