By Brazil Stock Guide – Banco do Brasil SA (BBAS3) has introduced Pix-based payments for purchases in physical stores in Argentina, allowing Brazilian users to complete transactions abroad using the country’s instant payment system.
The service, called Pix no Exterior, was launched in partnership with Banco Patagonia SA, a financial institution controlled by Banco do Brasil. The system allows any Pix user to make payments in Argentina, including customers who do not hold an account with Banco do Brasil.
The payment process mirrors the domestic Pix experience. At checkout, the customer scans a QR code displayed by the merchant using the app of their Brazilian financial institution. After reviewing the transaction details, the user confirms the payment, completing the process without any prior registration or activation.
Behind the transaction, Banco do Brasil performs an automatic currency conversion. The consumer pays the purchase amount in Brazilian reais, while the Argentine merchant receives the funds in local currency. The transaction is recorded as a standard Pix payment and the funds are debited directly from the user’s checking or savings account in Brazil.
As with other international financial transactions, the operation is subject to Brazil’s Tax on Financial Operations (IOF), which applies to foreign exchange and credit transactions.
Banco do Brasil said the exchange conversion and payment settlement are executed through APIs that connect multiple financial systems, enabling the transaction to be processed automatically within seconds.
The solution was developed in partnership with Banco Patagonia, which is part of Banco do Brasil’s international banking operations. The system also integrates the Wapa collection platform and payment infrastructure provided by Coelsa, a company specializing in payment systems in Latin America.
Felipe Prince, a board member at Banco Patagonia and vice president for Internal Controls and Risk Management at Banco do Brasil, said the initiative strengthens the bank’s global payments strategy.
“The launch of Pix abroad reinforces Banco do Brasil’s international presence and our commitment to innovation in payment methods focused on people’s well-being,” he said in a statement.
Banco do Brasil said it is studying the expansion of Pix payments to additional countries across the Americas, Europe and Asia, particularly in regions with large Brazilian communities. The initiative is part of the bank’s broader strategy to expand digital financial services and simplify cross-border payments.
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