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EBANX takes the lead and prepares the integration of global companies ahead of Pix Automático's launch

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EBANX takes the lead and prepares the integration of global companies ahead of Pix Automático's launch
Business

Business

EBANX takes the lead and prepares the integration of global companies ahead of Pix Automático's launch

2024-10-15 10:00 Last Updated At:10:15

The recurring payments capability of Pix is expected to be launched in mid 2025 by the Central Bank of Brazil, and EBANX is the first player in cross-border payments already making the documentation available for its global merchants to start the integration

CURITIBA, Brazil, Oct. 15, 2024 /PRNewswire/ -- The second most used instant payment method in the world, Brazil's Pix will have a recurring transaction capability, Pix Automático (Automatic Pix in free translation), set to be launched by the Central Bank of Brazil next year, on June 16th. EBANX, a global tech company specializing in payment services in rising markets in Latin America, Africa, and Asia, is taking the lead and is prepared to start integrating global merchants with this new Pix feature.

From this month, merchants of EBANX can access the technical documentation needed to integrate EBANX's API for Pix Automático. EBANX's partners will be able to start backend development, and will also have access to a simulated environment allowing them to thoroughly test their integrations and ensure readiness by June next year, when the Central Bank will release Pix Automático. "By partnering with EBANX, merchants can secure their competitive edge in the market, being ready to offer Pix Automático from day one," says Fabio Scopeta, Chief Product and Technology Officer (CPTO) at EBANX.

The new Pix capability will greatly improve recurring payments in Brazil, positively impacting Latin America's largest digital commerce market: "This solution streamlines billing processes and subscription payments, reduces friction, and enhances payment efficiency, for users and businesses," Scopeta highlights. Pix Automático may improve customer satisfaction by providing more control and flexibility, leading to higher retention rates and fewer missed payments, since these will be scheduled.

From June 2025, Pix users will be able to establish Pix Automático for future transactions without additional interaction by scanning a QR code or providing their banking details. Another option is to pay a bill via QR code and then activate Pix Automático to simplify recurring transactions. After the payer authorization, the amounts will be debited from their account at the frequency specified in the payment instruction.

For merchants, this presents an opportunity to increase revenue and attract more clients. According to internal information from EBANX, which has been operating with Pix since its launch in 2020, companies accepting the instant payment method in digital commerce experience a 16% increase in revenue and a 25% growth in the number of clients. "We remain attentive to how Pix Automático will impact the market and consumers, especially since one in five people who use Pix has already done so with EBANX," points out the CPTO.

The future of Pix

With no fees for the payer, Pix Automático is a new step in the process of financial and digital inclusion promoted by the instant payment method, which integrated 71.5 million users into the financial system in the first two years of operation, according to the Central Bank of Brazil. Pix has also helped connect these consumers with global and local companies. In the past two years, P2B (person-to-business) transactions have nearly doubled their share of monthly Pix transactions, increasing from 22% to 40%

This landscape may change even more in 2025. In addition to bill payments such as electricity, water, and rent, it is expected that Brazilians will also use Pix Automático for recurring payments in digital subscription-based business models, which may increase the number of P2B transactions. "We are witnessing a boom in recurring payments in segments such as streaming services, SaaS, and digital media across the world, and in Brazil, these verticals may benefit from the launch of Pix Automático," analyzes the CPTO at EBANX. 

Other innovations in Pix are expected to further enhance the success of the system, including payments via mobile proximity, with installment payments, for foreign accounts, and made with the consumer being offline. According to EBANX, 95% of people who made their first purchase at one of the fintech's partner online stores paid it with Pix. "Our commitment is to always be aligned with pioneering efforts in the sector and in leadership in Brazil's payments landscapeto offer the best solutions for our merchants and their clients," says Scopeta.

About EBANX

EBANX is the leading payment platform connecting global companies with customers from the fastest-growing digital markets in the world. The company was founded in 2012 in Brazil with the mission of giving people access to buy in international digital commerce. With powerful proprietary technology and infrastructure, combined with in-depth knowledge of the markets where it operates, EBANX enables global businesses to connect with hundreds of payment methods in different countries in Latin America, Africa, and Asia. EBANX goes beyond payments, increasing sales, and fostering seamless purchase experiences for businesses and clients.

For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx

Media Contact: Shan Huang, shan.huang@ahgstrategies.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

EBANX takes the lead and prepares the integration of global companies ahead of Pix Automático's launch

EBANX takes the lead and prepares the integration of global companies ahead of Pix Automático's launch

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Fortune Names Viettel as a Leading Company for Positive Social Impact

2024-11-08 15:20 Last Updated At:15:35

HANOI, Vietnam, Nov. 8, 2024 /PRNewswire/ -- In Fortune's "Change the World 2024" rankings, Viettel Group ranks 3rd among over 50 global companies contributing significantly to sustainable development and positive social impact.

"Change the World" is an annual ranking by Fortune, established in 2015, to honor companies making significant contributions to sustainable development and having a positive impact on society.

Leading the "Change the World 2024" list are companies such as Space X, GHG Sat, and Rocket Lab for developing emission-monitoring satellites. Grab Holdings ranks second for its financial support for gig workers and small retailers. Viettel takes third place for its efforts to improve the quality of education in Vietnam and the 10 international markets where it invests through its School Internet Project. Other notable companies in the rankings include Maven Clinic, Cisco, Alibaba, Walmart, eBay, among others.

Viettel is the only Vietnamese company in the ranking. Across Asia, eight companies made the list, operating in sectors such as services, retail, e-commerce, energy, and agriculture. Viettel is also the only telecommunications company included in this year's ranking.

Over the past 10 years, the list has honored some of the world's biggest tech companies, such as Alphabet, Microsoft, Meta, Apple, Intel, Qualcomm, Nvidia, and Tencent. These companies are recognized for their pioneering roles in addressing major global issues, from climate change and inequality to public health.

Fortune evaluates companies based on criteria such as measurable social impact, including the scope, nature, and sustainability of their activities, as well as the level of innovation relative to other companies in the industry.

Viettel received high marks for its contributions to education quality – one of the United Nations' 17 Sustainable Development Goals – through its School Internet initiative. This achievement underscores Viettel's leadership in digital infrastructure, with a creative approach and sustainably positive impact on society.

The School Internet Project is a non-profit initiative launched in 2008 to provide internet connectivity to 100% of educational institutions in Vietnam. To date, the program has provided free internet access to more than 46,000 educational institutions across 63 provinces and over 10 countries, especially in rural and remote areas.

As of 2024, the program has enabled 25 million students, teachers, and educators to access the internet, helping increase internet penetration in Vietnam from 15% to 85%.

With an investment of approximately 2,000 billion VND over 16 years, Viettel has developed digital infrastructure for education, including transmission infrastructure, data processing infrastructure, information security solutions for the education sector, and connectivity devices for schools.

This digital infrastructure enables teachers and students to access the internet and online teaching and learning applications. Viettel has also developed digital educational applications such as Viettel Study and K12Online, which support millions of users in online teaching, learning, and accessing educational resources from elementary to high school.

Major General Tao Duc Thang, Chairman and General Director of Viettel Group, said, "With the mission of universal internet access, Viettel provides ultra-broadband fiber optic connections to all schools, enabling a boom in online teaching and learning applications. Viettel also pioneers in researching and developing technologies for the education sector, providing online teaching and learning systems, resource repository and construction of the national education database. Viettel's infrastructure and technology has and will continue to play a key role in education digital transformation."

Recently, Brand Finance also recognized Viettel as the most highly-rated Vietnamese company for sustainable development and the strongest telecommunications brand in Asia in 2024.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Fortune Names Viettel as a Leading Company for Positive Social Impact

Fortune Names Viettel as a Leading Company for Positive Social Impact

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