Which payment gateway is available in Brazil?

15 May 2024

In 2024, Brazil has become a vibrant payment ecosystem with a variety of different payment gateways. Besides PayCEC, which is operating in Brazil, there are numerous other gateways competing in this lucrative market:

1. Pix

Pix is one of the most popular Brazil payment gateway, as we have learned, is an instant payment system and a product developed by the Central Bank of Brazil (Banco Central do Brasil - BCB), launched in November 2020. Pix users can perform bank transfers and instant payments for free, 24/7, by using a CPF key (personal tax number) or a QR code. This payment gateway is highly regarded by a portion of the population due to its high level of information verification.

Advantages:

• Free transactions; typical transaction limits are entirely supported by this payment gateway.
• Fast processing speed; like PayCEC, Pix offers real-time domestic transfers.
• User-friendly interface, intuitive and easy to use.
• Widely available across many regions within Brazil.

Disadvantages:

• Supports only domestic payments, so international transactions are not supported at all.
• Restricts the transaction amount for each account, so high-value transactions must be completed using another payment gateway or method.

2. Mercado Pago

Mercado Pago is the payment gateway product of MercadoLibre - the largest e-commerce platform in Latin America. This payment gateway allows payments through various modern methods today. Additionally, it also offers subscription payments, bill payments, and fraud protection.

Advantages:

• Supports multiple payment methods from credit cards to bank transfers, electronic wallets, and more.
• Wide network of payment points across Brazil, easily found in tourist hotspots.
• Excellent customer service is a notable strength of this payment gateway.
• Easily integrates with e-commerce platforms such as e-commerce websites.

Disadvantages:

• Transaction fees are higher than Pix.
• Registration process is more complex.

3. PagSeguro

PagSeguro is the third most popular payment gateway in Brazil, established and launched in 2006. PagSeguro offers a variety of payment methods, including credit/debit cards and bank transfers, similar to Mercado Pago.

Advantages:

• Easy to use with a simple interface.
• Competitive transaction fees bring advantages to customers.
• Extensive network of payment points, giving customers plenty of flexibility when choosing a payment gateway.
• Highly rated customer service from many reviews.

Disadvantages:

• Registration process is more complex compared to other competing gateways.
• Does not support QR code payments.

Unlike the other payment gateways, PayCEC has emerged in Brazil as the most comprehensive solution. Today, users no longer waste time searching for a payment gateway and waiting for integration setup. This is because PayCEC can be integrated as a plugin embedded into the seller's website. When a transaction occurs, customers can complete their payments quickly with a single click, and any currency will be converted to your bank at the actual exchange rate and at the lowest cost. This allows sellers to achieve their desired revenue thanks to the global payment coverage provided by PayCEC.