Boku Secures Brazil Licence to Capitalise on Pix's Dominance
Boku, a leading payment provider, has secured a significant licence in Brazil. Authorised as a Payment Institution, Boku can now facilitate Payment Initiation and E-money Issuance. This move comes as Pix, Brazil's dominant payment method, continues to reshape the country's financial landscape.
Pix, launched in 2020, has swiftly become a national phenomenon. Over 70% of Brazilian adults and 15 million businesses now use it. Its popularity is particularly strong among younger consumers and those banking with digital-first platforms like Nubank. Pix accounts for 45% of all payments and 30% of e-commerce transactions, handling a substantial 20% of Brazil's transaction value.
Boku's new licence enables it to participate in Brazil's Open Finance ecosystem as a Payment Initiator Service Provider (PISP). This will allow seamless Pix payments without redirection (JSR).
Boku is set to introduce Pix Automático to merchants in early 2026. Launched in June 2025, Pix Automático supports recurring payments, enabling merchants to offer subscription billing directly via the Pix ecosystem. This feature is expected to be particularly appealing to the 78% of Brazilian respondents in Boku's 2024-2028 Global Ecommerce Report who would consider switching payment methods for benefits like lower fees, better security, or ease of use.
With its new licence, Boku is poised to capitalise on Pix's dominance in Brazil. As Pix Automático rolls out to merchants, Boku can offer a seamless, secure, and convenient payment experience to both consumers and businesses. This move not only expands Boku's footprint in Latin America but also strengthens Pix's position as a leading real-time payment system.
Read also:
- Web3 social arcade extends Pixelverse's tap-to-earn feature beyond Telegram to Base and Farcaster platforms.
- Germany's Customs Uncovers Wage, Immigration Violations in Hotel Industry
- Thriving once more: recovery of the gaming sector's downfall
- U.S. & China Agree to Temporary Trade Truce, Easing Tariffs
