Spain and Portugal have become the latest countries looking to integrate the Brazilian payment method Pix into their infrastructure. This will be made possible following a partnership between Wipay, the Spanish paytech, and PagBrasil, the Brazilian fintech.
As a result of the new partnership, Brazilian tourists will be able to use Pix abroad, allowing for a more convenient and cost-effective payments experience. The pilot for Pix in Europe will take place in vending machines at Barcelona Airport.
Using Wipay technology and its integration with PagBrasil’s solution, visitors can make instant, quick, and secure payments by scanning a QR code. Looking at the bigger picture, the partnership and introduction of Pix in Europe also strengthens the tires between Brazil and European countries.
Jugatx Ansotegui, director of international business development at Wipay
“Pix is a milestone and furthers our goal to lead and democratize the transformation in the payment sector. This transactional system adds the solution’s different payment systems so everyone can choose their preferred payment method. It will also make Brazilian tourists feel at home while visiting our country,” stated Jugatx Ansotegui, director of international business development at Wipay.
Alex Hoffmann, CEO and co-founder of PagBrasil
Alex Hoffmann, CEO and co-founder of PagBrasil said: “The alliance with Wipay is a great opportunity to bring one of the world’s most innovative payment methods to other countries and facilitate transactions for Brazilian tourists. PagBrasil wants to be where Brazilians are – we were the first Brazilian company to enable Pix outside Brazil in May 2023.
“Besides the financial advantage compared to credit cards, Brazilians have the transparency and security that the amount paid in reais is final and definitive.”
Growing Brazilian tourism in Spain
Brazilian tourism to Spain has grown significantly in recent years post covid-19. In 2023, more than 9.3 million international tourists were received in the first five months, representing an 11.5 per cent increase compared to the previous year.
This growth is expected to continue, with Brazilian tourists playing a crucial role in boosting the tourism sector. In 2023, 564,860 Brazilian tourists arrived in Spain. The total spending by tourists also increased, reaching 11.687 billion euros in May 2024, 19.7 per cent more than the previous year. The introduction of Pix promises to further facilitate this exchange, benefiting tourists and local commerce.
In addition to economic benefits, the implementation of Pix also has social ones. Facilitating transactions for Brazilian tourists promotes greater integration and convenience for them when choosing a travel destination.
The initial pilot at Barcelona Airport is just the beginning. Wipay and PagBrasil have plans to expand this technology to other tourist and commercial points in Europe. “Our vision is that any Brazilian visiting can enjoy the same convenience and security in payments as they do in their home country,” added Ansotegui.
Why Pix makes sense in Spain
Just like Bizum, the Spanish instant payment system, Pix allows for 24/7, free, and highly secure instant transfers. Consumers can use it to transact with merchants and service providers. Since its launch by the Central Bank of Brazil in 2020, the Pix digital payment system has become a habit in the largest country in South America, allowing more than 173 million Brazilian users to make e-commerce and in-store transactions using their mobile phones.
When paying, the consumer simply selects Pix and scans a QR code or enters a Pix code in their bank’s mobile app to complete the transaction.
Pix is available 24 hours a day, allows secure transactions, and can connect to affiliated financial institutions and digital payment services. PagBrasil expects the total volume of transactions made with Pix International to reach 1.2 billion dollars by 2025.
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