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LATIN AMERICA ADVISOR

Financial AMERICA ADVISOR

A daily publication Of the dialogue

August 12, 2025

What’s in Store for the Expansion of Brazil’s Pix System?

Verifone and PagBrasil are planning a new platform that will allow for instant payments in the United States through Brazil’s Pix system. // File Photo: JCLobo via Adobe Stock.

Q

  • Payment processing firm Verifone is partnering with fintech PagBrasil to launch a new platform that will facilitate instant payments with reais at retailers in the United States through the electronic payment system Pix, the firms announced July 22. Earlier in July, U.S. Trade Representative Jamieson Greer launched an investigation into Pix, alleging the instant payment tool developed by Brazil’s central bank is discriminating against U.S. companies and violating trade practices. What technical and regulatory hurdles face Verifone and PagBrasil as they look to enable Pix payments in U.S. retailers? What would be the significance of authorizing Pix payments at retailers in the United States? How might the U.S. Trade Representative’s investigation affect Pix?

A

Helder Fonseca, partner, and Juliane Ferreira, senior associate, both at DRT Brazil: “Pix has attracted international interest due to its efficiency, speed and low transaction costs. Implementing Pix in the United States faces significant challenges. Technically, Pix is an integral part of the Brazilian Payments System, which requires a complex interoperability process with payment channels and protocols used in the United States. Its architecture, based on address keys and QR codes, may require adaptations to local systems to ensure operational compatibility. From a regulatory perspective, cybersecurity and data privacy issues are also a concern. It is essential to ensure that transactions and the processing of personal information comply simultaneously with Brazilian regulations and U.S. legislation. These requirements can increase the legal and technical complexity of…”

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ABOUT THE financial services ADVISOR

Covering Latin America’s banking and insurance sectors, remittances trends and data, micro lending issues, new technologies in the industry, anti-money laundering regulations, and much more, the Inter-American Dialogue’s biweekly Financial Services Advisor, a sister publication of the Latin America Advisor, gives readers fresh insight and diverse viewpoints from financial sector leaders. To subscribe or for more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.

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board of advisors

Ernesto Armenteros
Vice Chairman
of the Board,
Banco de Ahorro y Credito Union

Jimena Blanco
Chief Analyst,
Verisk Maplecroft

Richard Child
CEO,
Mattrix Group

Michael Diaz
Partner,
Diaz, Reus & Targ, LLP

Ernesto Fernández Holmann
Chairman of the Board,
Ayucus

Desiree Green
Vice President,
Int’l Gov’t Affairs,
Prudential Financial

Earl Jarrett
Deputy Chairman & CEO
The Jamaica National Group

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

Thomas Morante
Attorney,
Carlton Fields

Manuel Orozco
Senior Fellow,
Inter-American Dialogue

Adalberto Palma Gómez
Senior Partner,
Aperture SC

Rodolfo Pittaluga
Adjunct Professor,
Florida International University
College of Law

Roberto Teixeira da Costa
Founder & Board Member Emeritus, CEBRI

Mario Trujillo
CEO,
DolEx Dollar Express

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