Accept online Pix Payments: A guide for online merchants selling in Brazil

Pix payments for online merchants
In 2020, the Central Bank of Brazil (known as the Banco Central do Brasil, or “BCB”) and the Brazilian government introduced a new electronic payment system designed to improve transactions and transfers across the country.
Since its launch, the system has amassed over 110 million users (62% of the country’s population). Within the first week of operation alone, 9.3 billion Brazilian real was transferred across 12.2 million transactions.
It is strikingly obvious that this new payment system has since its launch gained extremely warm-welcomed popularity, gained trust and also has covered the most important point such a payment processing system should – gained a major market share in the business of online and digital payments.
There are also constant innovations being developed and added to the PIX payment system, which makes is an ever-growing and highly competitive payment solution in the LatAm region.


*Data and market intelligence by S&PGlobal
What is Pix?
The Pix system operates solely via a mobile app. Within the app, a user owns a virtual wallet to store and transfer their money. Transactions can be made to a variety of people and entities who are also signed up to the Pix network. These transactions are almost instantaneous (occurring within seconds) and can be done 24/7. Overall, Pix makes for a very efficient and smooth system.
The Brazillian government even introduced a requirement for financial institutions with more than a half-million active accounts to offer Pix registration for their customers. For smaller institutions, they have the option to do so but it is not obligatory.
How does Pix work?
The Pix system facilitates instant payments to the recipient using one of three methods:
1. Pix generated QR code:
- QR codes are virtual “labels” that identify a specific item or amount.

- This means that when a user goes to purchase an item or pay for a service, a Pix QR code can be generated by the recipient for them to scan. Once scanned, the cost of the item/service that the user is purchasing will then be immediately deducted from their Pix wallet.
- There are two types of QR codes: static and dynamic. For static codes, the recipient must manually enter the payment amount they wish to receive, whereas dynamic ones require the amount to be included upon generation.
2. Address Keys:
- The second way Pix users can make transactions is by registering an address key directly linked with their financial institution (i.e. most likely your bank).
- This could be your email, phone number or any other type of information that can be directly tied to your identity.
- To do this, the user must confirm that their key belongs to them. Their financial institution will ask them to complete an identification process to register their key (usually via text or email).
- Although users are not required to register an address key, the BCB highly recommends doing so for the fastest transaction times on the Pix system.
3. Other information exchange technologies:
- Although QR codes are the most used “near-field communication (NFC)” method to make Pix payments, there are also other options available such as Bluetooth.
Using Pix Keys
As mentioned above, although not obligatory, it is still highly recommended for Pix users to set up their unique Pix address key. This could be your email address, cell phone number, CPF/CNPJ (individual taxpayer ID in Brazil), or a randomly chosen key. Each person can register up to 5 keys at different institutions.
The BCB states that: “…registering the key is highly recommended to receive a Pix. Although you might be able to receive transactions just by informing your account data, this option is not as practical as using the key and might cause a delay in initiating the transaction, reducing the payer’s advantage in making a Pix.”
How customers use Pix
Pix’s vast utility means that transactions can be made with a variety of people or corporations, including:
Personal transfers:
- As shown in the pie chart below, the majority of transfers that use the Pix system are individual to individual.
Personal consumer purchases in-person and online:
- The Pix system allows for easy transactions for goods and services either in-person or online.
Corporations paying their employees or freelancers:
- Businesses are increasingly paying those they employ, or third parties such as contractors or freelancers, using Pix.
Business purchases:
- Similarly to personal buying, businesses can also utilise the Pix system to pay for goods and services.
Government service payments:
- Both businesses and individuals can use the Pix system to pay for government services, including tax.
One of the major advantages that Brazilians love about Pix is that you can use it to transfer money on non-business days when banks are typically shut. This is especially relevant for high-risk merchants who sell their goods and services online, 24/7. Using Pix, Brazillians will be able to purchase their products at any time and won’t be restricted by weekends or bank holidays.

How safe is Pix?
Pix is very safe to use. Every user is required to authenticate each transaction they make before payment is processed. Details about every aspect of this extremely important aspect of any payment system can also be tracked down in local media covering LatAm markets.
On The BCB states that all transactions take place through digitally signed messages that are encrypted and sent through a private network separate from the Internet.
Pix provides instant online payments
The instant payments provided by Pix provide a range of benefits to both the payer and the payee of a transaction:
For the “Payer”:
- Using Pix’s system allows for fast, safe and low-cost transactions with no hidden fees. You can make recurring payments easily to the same receiver by linking your Pix to your phone’s contact list, or by generating a quick, one-time-use QR code.
- Additionally, instead of having your money stored in different cards, cheques and banknotes, Pix’s virtual wallet acts as a central hub for all your finances. As most people carry their phones wherever they go, it’s unlikely you’ll be left without a way to pay for something in-person.
For the “Payees”:
- One of the major benefits of accepting payments via Pix for recipients is the very low transaction fee. Pix transfers are completely free for personal transfers, and only 0.01 Reals for every 10 transfers involving businesses.
- Once the payer has confirmed their transaction, the money will be instantly available for the payee to use. So, instead of relying on credit to continue operating whilst waiting for traditional consumer transactions to be processed, businesses can reduce the amount they may need to borrow.
- For businesses, the Pix system makes checkout for their customers quick and easy. So much so that the Brazilian Micro and Small Business Support Service has reported that 86% of small businesses in Brazil have implemented the Pix system as a payment method for their customers since the beginning of 2022.
What are the benefits of using Pix?
1. Complete safety:
- All transactions made through the Pix system are 100% safe and secure. This is particularly useful for high-risk merchants who may experience more fraudulent payment attempts by their customers.
2. 24/7 availability:
- Pix is available every day, 24/7, including weekends and holidays. Users can transfer money or make purchases at any moment without restrictions or delays.
- This is incredibly helpful for merchants who sell their products or services online, as it allows their customers to buy at any time.
3. Instant transfers:
- Transactions made with Pix occur almost instantly, at an average time of 2.5 seconds.
- What’s more, the money paid by the payer is available to use instantly by the recipient once the transaction has been completed.
4. Very low transfer fees.
- With no transfer fees for personal users and a small cost of just 0.01 Reals for every 10 transfers for businesses, Pix makes the cost of transactions almost inexistent. This is a comparable difference to that of traditional debit and credit card companies, which may charge fees for every transaction their users make.
5. No bank account needed:
- Although recommended by the BCB, you do not need to set up an address key and connect your bank account to your Pix wallet to use the Pix system.
- As long as an institution or company has Pix set up to receive payments, any Pix user can make a transaction to them.
6. Fast and simple:
- Transfers and transactions are incredibly easy to use in day-to-day life. An instantly generated QR code or a receiver’s Pix key can be used to make payments at any time.
Pix International
At the time of writing, the BCB hasn’t announced its plans for further expansion of the Pix system worldwide. There are many factors that must be considered before the system’s international rollout, including charges for users and how the exchange rate will be set.
However, once the Pix system has been rolled out internationally, merchants will be able to enjoy the benefits of Pix mentioned above, such as instantaneous and cheap transactions, globally. Therefore, merchants are advised to get ahead of the game by signing up with a payment service provider, such as Monneo, who will be one of the first to offer the international Pix system.

Accept online Pix payments with Monneo
Monneo facilitates Pix payments for online merchants selling services or goods in Brazil for the sending and receiving of money.
Brazilian customers of international merchants can use their Pix online payments and wallets to purchase goods and services more quickly and cheaply than through traditional payment methods.
What’s more, Monneo online merchants can send money through Pix quickly and securely. This could be used to pay people, such as employees, freelancers and affiliates, or separate goods and services.
In addition to personally managed websites, Monneo also supports e-commerce platform hosting such as Shopify. Monneo offers integration of a payment processor that has a module, extension, or plug-in dedicated to a financial institution connected to the Pix system.
Benefits to online merchants:
Online merchants who use Monneo as their payment service provider can bypass having to open and manage their own Brazilian financial account that grants them access to the Pix system.
Ultimately, this will save merchants: time to set up an account, money to maintain it and the stress of managing an account in a different country.
Start accepting Pix payments on your website
Used by 62% of Brazil’s population, with this figure only trajected to increase, using Pix for online merchants operating in Brazil is perhaps a necessity for sale success in the country.
In addition to its support of Pix, Monneo’s expanded service helps online merchants to execute payments in ways that Brazilians are most accustomed to. They give merchants greater access to markets in Latin America for accepting payments on their websites, as well as for paying out content creators, affiliates and contractors.
Having covered all the points in this article we at Monneo welcome you to contact our team of specialists who will be available to you and will answers any kind of specific questions or queries you might have appeared to while reading the details presented on the Pix Online Payment solutions above.
Whether you are a local based business owner or a director of a company, you are already doing business with LatAm markets and in particular with Brazil, or if you are looking to expand your commercial activities to those specific geographical regions and you would need a trussed, secure and well-established digital payment services solution processor Monneo stands by your side and will grasp the very in-depth detaisl of your business operation to meet specific requirements and become your partner in this endeavour.
File in your application for a Virtual IBAN or Merchant Account now, or contact us today to learn more about our services or to have your questions answered.