Pix operates by transferring funds between transactional accounts, often at a lower acceptance cost due to its design, which involves fewer intermediaries. Credit: Brenda Rocha – Blossom/ Shutterstock.

Cross-border payment platform dLocal has obtained certification as a payment initiation service provider (PISP) for Pix in Brazil. 

This certification, granted by the Central Bank of Brazil, enables dLocal to facilitate Pix payments within the Open Finance ecosystem.

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It allows for a streamlined checkout experience, as Pix payments can now be conducted directly, without redirecting users to banking applications.  

This development is particularly given that Brazil’s open finance system is backed by the country’s 5 leading banks includes including Banco do Brasil, Bradesco, Itaú, and Nubank, which serves 92% of the banked population. 

This follows another development in Brazil, dLocal’s Central Bank-issued license in July 2023. 

It will eliminate the need for separate authorisations in banking apps, particularly in the case of smart transfers. 

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The streamlined checkout process is expected to expedite Pix payments, removing unnecessary steps for consumers and increase conversion rates by offering fewer barriers between the intent to pay and the completion of a transaction. 

Within Brazil’s instant payment ecosystem, the Central Bank of Brazil (BCB) introduced Pix as a scheme that allows individuals, businesses, and government entities to execute payment transfers swiftly, at any time, including non-business days.  

Pix operates by transferring funds between transactional accounts, often at a lower acceptance cost due to its design, which involves fewer intermediaries. 

Earlier this month, dLocal and Viva Aerobus partnered to facilitate payment processing for travellers.  

This collaboration is designed to simplify local payment transactions for individuals travelling in Mexico, Colombia, and the US.