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Global Payment Provider Astropay Unites with Local Payment Provider Pix to Gain Veritable Stronghold on Brazil Payment Market

Published April 19, 2022 by Lee R

The expanding Brazilian market is getting a major boost from a new deal between global payment provider Astropay and local Brazilian payment provider Pix.

The Deal

The deal calls for the delivery of Astropay's vast suite of payment advantages via the seamless local network Pix has already established in the massive Brazilian market.

Astropay's Growth

Already over five million users strong globally, Astropay has been enabling payments via Pix since October 2020 when Pix was launched, right when the Covid pandemic arose. The departure from that era has invariably provided the momentum to expand the original deal.

The Pix Advantage

This is a major coup for Astropay, because Pix was created and is managed by the central bank of Brazil, meaning a sizeable market share which has seen Pix's payment volume cover over 80% of Brazil's debit and credit card transactions since launch.

Key Upgrade

Payment systems in the deal will be streamlined primarily through Astropay's utilisation of the Pix native view and Software Developer Kit SDK for merchants. In this new click-through system, the Pix native view enables users to navigate straight from the merchant site to the AstroPay checkout site. This click-through enables a one-time Pix QR code preventing users from passing through the Pix site on the way to the Astropay checkout.

Pix QR Performance

The Pix QR click-through option is already available to all merchants and has proven to this point to improve sales conversion rates by 7% to 15%. This new checkout flow will bring the Pix QR code to the Astropay cashier page of all merchants who install the SDK.

Astropay Leader Speaks

Astropay CEO Mikael Lijtenstein said of the deal:

“As an agile fintech company, we strive to provide our users and merchants with the best payment experience and constantly invest in technology to adapt to their needs.”

The Pix Innovation

Lijtenstein looked forward to the latest capabilities in the new deal helping “merchants to better connect with their users who prefer to pay with Pix,” calling Pix a “revolutionary payment system” for Brazil, with the users experiencing the ultimate benefits:

“By utilising AstroPay wallet, users will experience a quicker and frictionless payment journey with a payment method of their choice.”
Brazil.

Outlook

The seamlessness of the experience is the Astropay trademark to this point. The deal with Pix will only strengthen Astropay's powerful lead in Brazil's payment solution provider market, and expand on Astropay's current user base of over 200 merchants and 1.5 million users in the Brazilian market.

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