AstroPay bolsters Brazil expansion with Payment Institution license
By Gloria Mathias
AstroPay, a global digital financial solution, has expanded its presence in Brazil by acquiring a coveted Payment Institution (PI) license issued by the Central Bank of Brazil.
This license is from the Central Bank of Brazil, underscoring AstroPay’s commitment to delivering secure, compliant, and user-friendly cross-border payment solutions.
AstroPay is poised to bring faster, more straightforward, and more innovative financial services for Brazil’s local and international users and businesses, solidifying AstroPay’s position as the go-to platform for seamless, secure cross-border financial management.
AstroPay’s “Pix for Foreigners” allows international visitors to make instant payments in Brazilian reais. This gives small businesses, from beach vendors to market stalls, a frictionless way to transact without the excessive fees associated with credit cards. In addition, AstroPay’s global card allows users to manage their money securely across borders, access highly competitive exchange rates, and spend freely without unnecessary complexity.
The company’s streamlined approach to cross-border payments delivers substantial savings for users. For example, AstroPay’s competitive fees enable travellers to spend $2,000 on a trip to Brazil to save up to BRL 1,000 compared to conventional credit cards. Conversion rates are as low as 1.5%, and the IOF (financial transaction tax) is just 0.38%.
Marc Sacal, CEO of AstroPay, commented, “This expansion marks a pivotal milestone for AstroPay as we align our services with Brazil’s regulatory framework and deliver compliant, secure, and innovative financial solutions. By working closely with local and international regulators, we aim to empower individuals and businesses globally to take control of their finances. This isn’t just about payments—it’s about building a foundation of trust and efficiency to create meaningful opportunities for users in Brazil and beyond.”
AstroPay has also strengthened its local presence by expanding its team in Brazil and tailoring its services to meet the unique needs of Brazilians and the growing community of expats who are choosing Brazil as a destination. With this expansion, AstroPay reaffirms its mission to provide individuals and businesses with financial freedom, enabling everyone to spend, save, and send money without limits.
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