Pix, the main digital payment system used in Brazil, is now available in Portugal. This method allows Brazilians to make payments in reais, even if they do not have a Portuguese bank account, offering a solution similar to MBWay in the Portuguese market.
According to the financial institution, the introduction of Pix in Portugal is a “response to the growth of tourism in Portugal”, with the aim of “facilitating transactions for the more than one million Brazilian citizens who visit Portugal every year”.
Limited initial availability
Currently, Pix can be used in some Worten physical stores, namely in Aveiro and Braga. According to DECO PROTeste, there are plans to extend the use of this system to other establishments in the future.
How to join Pix in Portugal?
To use Pix in Portugal, you must have a bank account with a Brazilian bank that offers the service. Transactions can be carried out through home banking or the bank’s mobile application, thus allowing payments outside Brazilian territory without the need for a bank card.
Differences between Pix and MBWay
Although they are similar systems, there are important differences between Pix and MBWay, as highlighted by DECO PROTeste:
- Transaction cost: Pix is free for payments made through digital channels, while with MBWay there may be associated costs, depending on the bank. However, in Portugal, these costs are limited by law.
- Payment Scheduling: Pix allows you to schedule transactions, a feature that is not available on MBWay.
- Bank card required: MBWay requires a debit or credit card linked to a checking account, while Pix can only be used with a checking, savings or prepaid account.
On the other hand, MBWay offers features that Pix does not, such as the ability to request money or create virtual cards.
The future of Pix in Portugal
The expansion of Pix to Portugal comes in a context of growing presence of Brazilian tourists and the need for payment systems adapted to this audience. Despite current limited availability, it is expected that this payment method will be progressively adopted by more establishments in the country.
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