Just as Argentines are pix in Brazil, Brazilians will be able to make pix in reais in Argentina stores.
After weeks of pilot tests, Paid Market launched their role in stores that make payments with their Point Smart machine and became the first big fintech to offer this service. Thus, Brazilians will be able to make pix in reais through any virtual wallet in Brazil.
Pix is the most popular electronic payment form in Brazil. It is used by 76.4% of the population, equivalent to more than 110 million people, according to the country’s Central Bank.
For now, paid market does not offer pix on weights in Brazil. The idea is to make Pix available to Brazilians who visit Argentina, and who represent 22% of foreign tourists in the country, according to the Ministry of Tourism, Environment and Sports. In addition, according to the last census, there are 80,000 Brazilians residing in Argentina, which represents a growth compared to the 49,000 registered in 2022.
In Argentina, Pix is already offered by Féserv, a leading American payment technology company through an QR in its clover machine, with potential use in 130,000 stores. Last year, the adoption of this payment method in the country grew 350% and 70% transactions.
The Kamipay app, used by 1,200 brands, including Howard Johnson, Frappe, Prune, Cheeky and Havanna, also allows PIX payment through seats. This company has developed the infrastructure of Argentine digital wallets that use Pix in Brazil, such as Lemon, Cocos Capital and Belo, among the main ones. Argentines have already spent a value of over US $ 8 million per day in Brazil. 9 million payments were made in January, surpassing the initial forecast of 5 million.
In Argentina, the main difference between competing companies is that paid market is the first digital portfolio to launch Pix into reais and to offer instant credit with the possibility of generating income in the account.
Although Argentina is expensive in dollars and receptive tourism has diminished, the Free Market’s financial arm seeks to make, even with the consumption still depressed, companies can increase their sales with this additional payment tool, especially those who operate in the most touristy areas.
“The implementation will be progressive, with national coverage. We estimate that more than 500,000 companies could receive this type of payment. Of course, there will be more adherence to those in sights, for example, near the border with Brazil. We hope that by the early days of March most will be using it, “Agustín Viola, senior director of PMES and Entrepreneurs of the Argentine Paid Market, to Clarín.
There will be no fixed cost or rental or maintenance of the machine, just a percentage of sales. “The context has changed compared to six months ago. But it’s a long -term vision: stores that use paid market were looking for a solution for payments because of the large number of Brazilians who visit the country, ”said Viola.
“This is also a short -term vision. Traders will have access to a cheaper way to sell. Pix is 30% or 40% cheaper. The commission is 3.25% more VAT, while international credit cards usually charge between 9% and 12%. And for users, it’s easy and safe, and eliminates uncertainty about the exchange rate that will be applied. ”
Regarding the possibility of extending the use of PIX to other markets, the executive said that they are analyzing possibilities to “boost digitization and advance in the development of transionic payments, thus simplifying the experience and solving the needs of collection and payment of merchants and tourists”. .
Weeks ago, the company launched the possibility of Argentines making payments with paid QR market in Uruguay, through the digital account, in more than 50,000 Uruguayan commercial establishments, without the need to withdraw money in ATMs or exchange money.