dLocal becomes Certified Payment Initiation Service Provider for Pix, streamlining payments for global companies in Brazil’s Open Finance Ecosystem
With the Brazillian’s Open Finance Structure certification and Smart Transfers support, dLocal simplifies A2A transactions and recurring payments, enhancing convenience and security for businesses and consumers alike.
Montevideo, Uruguay, 26 November 2024. - dLocal, the leading cross-border payment platform specializing in high-growth markets, marks a new regulatory milestone by becoming a certified Payment Initiation Service Provider (PISP) in Brazil, authorized by the Central Bank.This certification enables dLocal to facilitate Pix payments directly within the Open Finance ecosystem, streamlining the checkout process and reducing friction by allowing direct payments without redirecting users to bank apps. Brazil's Open Finance ecosystem is supported by the country’s top five banks, including Banco do Brasil, Bradesco, Itaú, and Nubank, which together represent 92% of the country’s banked population.
This achievement follows a series of recent milestones for dLocal in Brazil, including the company’s Central Bank-issued license in July 2023. With this new certification, dLocal can now initiate Pix payments directly, providing consumers with a smoother, more intuitive experience without the need for separate authorizations in banking apps in the case of Smart Transfers, for example.
Why is Payment Initiation Certification a Key Advantage?
- Streamlined Checkout: Pix payments are now faster, eliminating unnecessary steps for the consumer.
- Reduced Friction, Increased Conversion: A smoother, more intuitive experience with fewer barriers between intent and completed transaction.
About dLocal
dLocal powers local payments in high-growth markets, connecting global enterprise merchants with billions of high-growth market consumers across Africa, Asia, and Latin America. Through the "One dLocal" concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts, and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. For more information, visit: https://dlocal.com
About Pix
Within the Brazilian instant payment (IP) ecosystem, Banco Central do Brasil (BCB) created Pix, the Brazilian IP scheme that enables its users — people, companies and governmental entities — to send or receive payment transfers in a few seconds at any time, including non-business days.
By transferring funds between transactional accounts, Pix is a payment method that tends to have a lower acceptance cost because its framework works with few intermediaries.
Pix is another element in the set of payment instruments available at the Brazilian retail payments system. As such, traditional payment instruments, such as TED, DOC and Boletos (bank slips) will continue to be offered; the same holds for credit and debit cards. Therefore, it is the end user’s discretion to choose the best payment instrument for the occasion.
