Brazil, Paraguay fintechs aim to process $100 million in Pix transactions in 2025
Brazilian payment processor PagBrasil and Paraguayan Bancard announced on Friday a partnership to process transactions on Brazil's widely popular Pix instant payment system, highlighting the growing interest from Latin American fintechs in the market. The companies said they expect to process $100 million in Pix transactions by Paraguayans in Brazil in 2025, as foreigners embrace the payment method that since 2020 has become the country's most widely used, surpassing cash, credit and debit cards. Pix, a real-time payment technology developed by the Brazilian central bank, has gained popularity among tourists because it offers more favorable exchange rates than credit cards or cash from exchange offices.