The new solution taps into the Pix payment system, offering real-time transfers and lower transaction fees. Credit: Nattakorn_Maneerat/Shutterstock.

Bybit, a cryptocurrency exchange, has unveiled Bybit Card QR Pay, a new payment feature designed for Bybit Card users in Brazil to streamline transactions and enhance user experience.

This solution taps into the Pix payment system, offering real-time transfers and lower transaction fees.

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Bybit Card QR Pay is said to help Bybit Card users gain access to a fast and seamless transaction method at lower fees, instant processing, as well as compatibility with a vast network of Pix-supported merchants.

To use Bybit Card QR Pay, cardholders in Brazil can scan a QR code using the Bybit App’s QR scanner.

This integration maintains the card’s existing spending limits while offering a new level of convenience for daily transactions.

The service is exclusively available to users transacting with the Brazilian Real (BRL) and requires completion of Identity Verification Level 1 for security purposes.

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Bybit is also incentivising new users in Brazil with a welcome offer, the company statement said.

By depositing 100 USDT, new Bybit Card users can receive a 150 BRL reward.

Bybit Sales and Marketing director Joan Han said: “Bybit Card QR Pay is a game-changer for our users in Brazil. With its seamless integration and lightning-fast transactions, this feature is set to redefine how people experience everyday payments.

“We are proud to bring this innovative solution to a market where speed and convenience are essential.”

In June 2024, Bybit Card from Bybit added Apple Pay for its customers.

This feature offers a secure and private way to pay at checkout when using the Bybit app or website to purchase cryptocurrency.