Banco do Brasil launches Pix payments in Argentina

Brazil's state-run BANCO DO BRASIL SA-SPON ADR has officially launched a new feature allowing Brazilian travelers in Argentina to utilize the Pix instant-payment system for local transactions. This initiative, developed in collaboration with BANCO PATAGONIA SA-B SH, enables any Pix user to settle payments at participating merchants, marking the first time the platform has been extended for use beyond domestic borders. Felipe Prince, the bank's vice president for Internal Controls and Risk Management, stated that the international rollout of Pix strengthens the institution's global footprint and underscores its commitment to modernizing payment methods. > The launch of Pix abroad strengthens Banco do Brasil's international operations and underscores its commitment to innovation in payment methods. Prince further explained that the expansion into the neighboring nation is the initial phase of a broader global strategy to enhance payment flexibility for Brazilian citizens abroad. Oswaldo Parre, CEO of Banco Patagonia, described the project as a significant step toward regional economic connectivity. > The initiative is a step toward regional integration. The financial institution is also evaluating the possibility of extending the feature to other regions across the Americas, Europe, and Asia, with a focus on areas containing large Brazilian expatriate communities. Pix, which was originally established by the central bank of the South American nation, facilitates real-time, 24/7 transfers and remains free for individual users. The system is currently supported by approximately 900 institutions and has reached over 170 million people. To use the feature in Argentina, customers scan a QR code via their banking application to complete a purchase. While the merchant receives the payment in local currency, the customer's account is debited in Brazilian reais. Banco do Brasil manages the underlying transaction, including the currency conversion and any applicable taxes, which are displayed to the user on the confirmation screen.