The global business landscape is changing rapidly – and with it, financial transactions between companies in different countries have become essential. These are called cross-border payments.
As businesses seek new growth opportunities, it is vital to have a good understanding of the dynamics of international operations, including consumer preferences in the target market. It is essential to offer the most suitable payment methods to gain the trust of your audience.
In an increasingly competitive market with a strong demand for fast solutions, companies must prioritise a seamless user experience. This includes, among other things, ensuring quick and uninterrupted transactions, which can be challenging in many sectors.
As indicated in the Global Fraud Report 2024, merchants seeking to enhance customer experience and expand into new market segments are prioritising the diversification of payment methods, including real-time options such as Pix.
It is understandable that, at first glance, efficiently implementing this may appear to be a complex undertaking. However, through strategic partnerships, your company can establish a presence in the Brazilian market, distinguishing itself and attracting a consumer base eager for innovation.
When developing a strategy for Brazil, it is essential to the role of Pix as a significant factor. Introduced in 2020, this domestic payment system enables immediate and secure transactions, transforming how Brazilians engage in financial activities. As expected, the popularity of Pix continues to increase, with the number of transactions recorded setting new records regularly.
For example, on 6 September 2024, Brazil recorded an impressive 227.4 million Pix transactions in a single day, according to data from the Central Bank. This exponential growth demonstrates that Pix is establishing itself as the dominant payment method in Brazilian digital commerce.
For international companies seeking to enter the Brazilian market, integrating Pix into their platforms is not merely an option; it is a necessity. After all, Brazilian consumers prefer to use methods that guarantee speed and security in their transactions – and these are essential characteristics of Pix.
Bazk offers a cross-border payments solution that allows Pix to be integrated quickly and easily into clients' platforms, ensuring a smooth and secure implementation to take advantage of the Brazilian market.
By combining cutting-edge technologies with vast anti-fraud expertise, Bazk offers a payment solution that is fast, secure, and compliant with both Brazilian and international regulations.
With Bazk's solution, international merchants can accept payments in reais and receive them in their preferred currency, in an effortless way.
Bazk has over six years of experience in the Brazilian market, equipping it with the expertise necessary to navigate the intricacies of the local financial system.
Bazk's solution facilitates integration with multiple financial institutions, thereby ensuring operational continuity and the expeditious processing of transactions.
A good cross-border payment solution is essential for global companies wishing to start or expand their operations in Brazil in any sector of the economy. In this sense, by relying on a trusted partner like Bazk, your company can offer an optimised payment experience to Brazilian consumers, gaining the confidence it needs to thrive in an expanding market.
Are you interested in unlocking this market? Get in touch with us and find out how our solution can make your journey in Brazil easier!
