Sensedia, a global leader in delivering API solutions for companies adopting a more digital, connected, and open strategy, announced a presentation by Eduardo Goni, Rendimento/pay’s CEO at APIX. Goni will share how the company expanded global payments via PIX on the main stage on May 23 at World Trade Center São Paulo and streaming live online.
The need for cross-border payments has increased due to globalization, growth in global e-commerce, migration and record levels of worker remittance payments. According to the IRA, e-commerce cross-border purchases outside Brazil have grown by 150% in the last five years. Pix, an instant payment platform created and managed by the Central Bank of Brazil, enables users to make payments and transfers easily. This popular payment method is responsible for moving more than R$17.18 trillion in 2023, according to data from the Brazilian Federation of Banks (Febraban), and transactions continue to increase.
The multilingual platform, offered in English, Spanish and Portuguese, allows Brazilians to make purchases abroad from registered establishments within D+1. Pix allows the registered retailer to generate a scannable QR code that customers use to pay. Pix is available in Argentina, Chile, Paraguay, Uruguay and the United States and will soon expand to Colombia and Panama.
Cross-border e-commerce is complex, requiring coordination and cooperation between companies, transportation providers, governments and consumers. Rendimento/pay pioneered Rendix at the end of 2022 to meet the need for a robust and secure cross-border payment solution.
“Rendix users enjoy the convenience and security of making instant payments without needing cash or a credit card and immediately know the amount they will pay. The technology offers lower tax fees and spread on purchases, increasing savings for the end consumer,” explains Goni.
APIs connect the Rendix platforms used in the Pix process. They offer scalable, modern and robust integration, allowing institutions and consumers a standardized and secure way to share data and explore new functionalities, such as initiating payments.
“Rendix is a terrific example of an API platform raising the level of user experience and opening doors to innovation. Rendimento/pay takes the convenience and security of Pix outside of Brazil, providing a unified experience for its customers and demonstrating how a Banking as a Service (BaaS) provider with a well-established API strategy can create solutions at the forefront of technology,” says Filipe Torqueto, Sensedia’s head of solutions.
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