dLocal secures PISP certification for Pix to streamline payments in Brazil

By Gloria Mathias

dLocal, the cross-border payment platform specialising in high-growth markets, has marked a new regulatory milestone by becoming a certified Payment Initiation Service Provider (PISP) in Brazil, authorised by the Central Bank.

This certification enables dLocal to facilitate Pix payments directly within the Open Finance ecosystem, streamlining the checkout process and reducing friction by allowing direct payments without redirecting users to bank apps. Brazil’s Open Finance ecosystem is supported by the country’s top five banks, including Banco do Brasil, Bradesco, Itaú, and Nubank, which together represent 92% of the country’s banked population.

With the Brazilian Open Finance Structure certification and Smart Transfers support, dLocal simplifies A2A transactions and recurring payments, enhancing convenience and security for businesses and consumers alike.

This achievement follows a series of recent milestones for dLocal in Brazil, including the company’s Central Bank-issued license in July 2023. With this new certification, dLocal will be able to initiate Pix payments directly, providing consumers with a smoother, more intuitive experience without the need for separate authorisations in banking apps in the case of Smart Transfers, for example.

Key Advantages of the PISP Certification:

• Streamlined Checkout: Pix payments are now faster, eliminating unnecessary steps for the consumer.
• Reduced Friction, Increased Conversion: A smoother, more intuitive experience with fewer barriers between intent and completed transaction.

Within the Brazilian instant payment (IP) ecosystem, Banco Central do Brasil (BCB) created Pix. This Brazilian IP scheme enables its users, people, companies, and governmental entities to send or receive payment transfers in a few seconds at any time, including non-business days.

By transferring funds between transactional accounts, Pix is a payment method that tends to have a lower acceptance cost because its framework works with few intermediaries.

Pix is another element in the set of payment instruments available in the Brazilian retail payments system. Traditional payment instruments, such as TED, DOC, and Boletos (bank slips), will continue to be offered; the same holds for credit and debit cards. Therefore, it is the end user’s discretion to choose the best payment instrument for the occasion.