Paraguayans travelling to Brazil will now be able to use PIX via QR codes directly from their preferred banking apps following a partnership between Bancard, the technology services platform, and paytech, PagBrasil.
Historically, travellers would need to bring cash to Brazil or use currency exchange services in order to make payments to local businesses. However, this costly barrier has now been removed following the partnership between Bancard and PagBrasil as the former will offer banks in Paraguay the opportunity to integrate a QR code into their digital platforms.
This new collaboration will be especially impactful as Brazil remains the top travel destination for Paraguayans. According to Paraguay’s National Directorate of Migration, 236,320 Paraguayan travellers visited Brazil in 2024.
Aníbal Corina, general manager of Bancard
“We know that Brazil is the favourite destination for Paraguayans, and we are proud to partner with PagBrasil to offer a secure and convenient payment option for everyone. Now, it will be much easier to go on vacation and shop, as we’ll have access to the same banking app we use in Paraguay for purchases in Brazil. This partnership demonstrates how both nations can develop high-value products for their citizens, creating countless benefits and breaking traditional barriers,” said Aníbal Corina, general manager of Bancard.
Making payments easier
Pix is a payment system created by the Central Bank of Brazil that allows users to send and receive money instantly, anytime, 24/7, including weekends and holidays. In June 2024, PagBrasil launched a new service, Pix Roaming, which enables foreigners to make payments in Brazil using the popular local payment method. Bancard’s choice to implement the technology will bring various economic advantages and have a significant social impact.
The ability to utilise Pix facilitates seamless transactions for tourists while fostering greater financial integration between both countries. Some benefits for Paraguayan tourists visiting Brazil and using the service include:
Safe and convenient alternative to cash, eliminating the need for currency exchange.
Allows tourists to use their trusted banking or financial app for payments in Brazil.
Cost-effective and transparent, providing full control over expenses. – Accepted at a wide variety of establishments, from major retailers to small merchants at the beach.
Many stores in Brazil offer exclusive discounts for Pix payments, further encouraging its adoption.
Alex Hoffmann, CEO and co-founder of PagBrasil
“Our collaboration with Bancard marks a key step in our commitment to expanding the benefits of Pix beyond Brazil’s borders,” said Alex Hoffmann, CEO and co-founder of PagBrasil. “PagBrasil has been a pioneer in offering Pix outside of Brazil, providing a solution that enables fast and secure payments for Brazilians abroad.
“This innovation which allows international tourists to use Pix in Brazil will positively impact travellers and merchants, driving tourism and international trade. We are excited to see the Pix system enhancing the payment experience for our Paraguayan neighbours while promoting regional integration.”
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