PIX: A revolutionary Brazilian payment method now available with Solidgate

PIX is an instant payment system created and managed by the Central Bank of Brazil. It enables shoppers to make real-time payments directly from their bank accounts using a QR code or a unique payment key. Since its launch in 2020, PIX has become one of Brazil’s most widely used payment methods. As of March 2024, over 153 million Brazilians—approximately 75% of the population—actively use PIX.

We at Solidgate are happy to announce that we have added PIX to our orchestration portfolio, giving you easy access to one of Brazil’s most popular payment methods. Here’s everything you need to know about this game-changing payment solution and how it can elevate your checkout experience.

How is PIX transforming payments?

PIX is reshaping the payment landscape with exceptional benefits for both merchants and customers:

• Speed and efficiency: Payments are processed almost instantly, with funds transferred within minutes.
• User-friendly options: Customers can pay via QR codes, PIX keys (such as phone numbers or email addresses), or direct bank transfers.
• Cost-effectiveness: Transaction fees are significantly lower compared to credit and debit cards, benefiting both merchants and buyers.

What does the PIX checkout look like?

The checkout process with PIX is seamless:

1. Selection at checkout: Customers select PIX as their payment method.
2. Payment initiation: They are redirected to a PIX payment page displaying a QR code.
3. Authentication and authorization: Customers scan the QR code using their banking app or enter the payment key directly in the app.
4. Payment confirmation: The customer approves the payment, which results in one of three statuses: approved, declined, or settle_pending.
5. Merchant notification: Solidgate notifies the merchant of the transaction status as soon as it is determined.

How do PIX refunds work?

PIX refunds are straightforward. If the refund request is made on the same day the PIX payment was confirmed, the refund can be processed using the same PIX details provided for the original payment.

After this window closes, the customer will receive an email asking for their bank details or PIX key to proceed with the refund. PIX keys can be a CPF/CNPJ (Tax ID), an email address, a phone number, or a randomly generated key of up to 32 characters.

PIX payments are real-time transfers that expire after one hour, so all unpaid transactions are automatically canceled.

Note: PIX doesn’t support chargebacks.

Why PIX matters to your business?

Integrating PIX into your payment solutions can benefit your business in several ways:

• Expand your audience: Brazil is a rapidly growing market, and PIX is the preferred payment method for most of its population.
• Boost conversion rates: The simplicity and speed of PIX encourage customers to complete their transactions.
• Stay future-ready: With recurring payments launching soon, you’ll be prepared to offer subscription-based services effortlessly.

For merchants, PIX simplifies business payments, improves cash flow, and reduces operational complexity. Its fast and intuitive checkout process enhances customer satisfaction and helps lower cart abandonment rates.

The next evolution of PIX is recurring payments, a feature set to launch in 2025. This highly anticipated functionality will allow businesses to offer subscription services and automated billing, unlocking new revenue streams and enhancing customer convenience.

Seamless PIX integration with Solidgate

At Solidgate, we make it easy to integrate PIX into your payment portfolio and support your LATAM growth. Whether you want to start accepting one-time payments today or prepare for recurring payments in the future, we provide all the tools and support you need to succeed.

Take the next step and start accepting payments with PIX today! This will allow you to offer your customers the convenience, speed, and reliability they expect. By adopting this innovative payment method, you will position your business to stay ahead of the competition.

If you’re a Solidgate merchant, your account manager is just a message away to help you integrate PIX. For detailed technical specifications and integration guides, visit our documentation.