Pix, wildly popular in Brazil for its speed and transparency, will offer Brazilian tourists a more convenient and cost-effective payment option in the launch markets, also rumoured to be The Netherlands.
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.
The first pilot program has launched at Barcelona Airport, allowing travellers to make secure payments via QR codes at vending machines.
The collaboration aims to enhance the travel experience for Brazilian tourists, a growing demographic in Europe post-COVID-19.
In 2023, more than 9.3 million international tourists were received in Spain in the first five months, representing an 11.5% increase compared to the previous year.
This growth is expected to continue, with Brazilian tourists playing a big 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% more than the previous year. The introduction of Pix promises to further facilitate this exchange, benefiting tourists and local commerce.
The introduction of Pix is not only about convenience but also about fostering stronger ties between Europe and Brazil.
As Wipay and PagBrasil expand this payment solution across more locations in Europe, it will further integrate digital payment systems and benefit local businesses by attracting more tourists they say.
The initiative also highlights a broader trend towards digitalization in global payments, enhancing both efficiency and security in cross-border transactions.
Wipay and PagBrasil plan to expand the use of Pix across more tourist destinations in Europe, aiming to make travel easier and more accessible for the growing number of Brazilian travellers.
“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,” says Alex Hoffmann, CEO and co-founder of PagBrasil.
“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.”