Product Overview
The Pix Payments API enables foreign and local merchants and Payment Service Providers (PSPs)
to supply Pix-based payment solutions to Brazilian consumers.
Pix
Pix is a payment method developed by Brazil's Central Bank (BACEN) that enables payment transfers between people, companies, and governmental entities in under 10 seconds. Operating digitally and without availability restrictions, since it works 24/7, including non-business days, it has become Brazilians' favorite payment method for its low-cost functionality, real-time operation, and reliability.
With Pix, users can send money using the receiver's Pix key, scanning a QR Code, or manually inserting the receiver's account information.
A Pix key uniquely identifies an account in Brazil's financial system, and users can use four types of keys:
- Their CPF or CNPJ (personal or business taxpayer ID)
- An email address
- A cell phone number
- A random string of numbers, letters, and symbols
Pix Payments API
The Pix Payments feature of Bitso's business accounts facilitates the integration process for sending and receiving instant payments in BRL. It enables you to implement Pix-based payment solutions that offer your consumers simplicity, speed, and reliability.
The API includes a validation platform that optionally performs consumer screening and limit validation before completing any transaction, enabling you to reduce bureaucratic hurdles effectively. The validation platform also includes a mandatory third-party verification that protects you from money laundering: The taxpayer ID who requests the payment must coincide with the one who completes it.
Additionally, Bitso's end-to-end regulatory coverage guarantees compliant operations across the Brazilian market, mitigating regulatory risks for your business.
The Pix Payments API also includes a notification service that lets you receive real-time status data about pay-in and payout events in your Bitso account.
The API's efficiency and ease of use help your team concentrate on delivering exceptional value to your customers without worrying about the complexities typically associated with financial transactions.
For details about the pay-in and payout features of the API, refer to the following sections:
- Pay-Ins: Enable your client application to complete pay-ins using a QR code.
- Payouts: Let your client application generate payouts utilizing only a Pix key.
Service Cost
The API requires service and infrastructure, which incur costs per transaction. As a result, Bitso applies charges for using this feature; pay-ins and payouts are subject to applicable fees. Contact your account manager at [email protected] for the most accurate and up-to-date information regarding the specific charges associated with this service.
Updated about 1 year ago