Brazilian tourists can now use Pix at establishments in Italy, France, Spain, and Portugal. The system is made possible by fintechs who act as intermediaries between Brazilian banks and local merchants.
This transaction is exclusive to customers with a bank account in Brazil. Payment is made in reais (R$), with automatic currency conversion and IOF (Tax on Financial Operations) charged at the time of purchase.
How Pix works in Italy
In Italy, companies like Power Payments e PagBrasil allow the use of Pix in partner stores. These fintechs—institutions that operate online—partner with local merchants and integrate the technology into existing payment terminals.
According to the Power Payments website, there are partner merchants in cities such as Milan and Florence.
The process is simple: the tourist scans a QR Code with the Brazilian bank's app. The fintech converts the purchase amount to reais and processes the transaction in real time. The merchant receives the final amount in euros, without altering the store's usual flow.
For now, acceptance is still limited and focused on serving Brazilians traveling.
Portugal now has an active Pix network
In Portugal, the system is already accepted in the physical stores of the Continente supermarket chain, in the regions of Lisbon and Braga.
The model follows the same logic: the customer pays in reais, with a 3,50% IOF tax and exchange rate already included. Payment is made via QR code and eliminates the need for an international card.
International transfers are not yet possible
Despite advances in in-person payments, Pix does not allow direct transfers between bank accounts in different countries.
International remittance services remain necessary. Some platforms only accept Pix as the initial payment method for transactions.
The European instant payments system, created in 2018, is not integrated with Pix.
Global integration is under study
The Central Bank of Brazil participates in the Nexus project, coordinated by the Bank for International Settlements (BIS), which seeks to interconnect instant payment systems in more than 60 countries.
In 2021, then-Central Bank President Roberto Campos Neto stated that there were advanced talks with authorities in Italy and the United Kingdom regarding the creation of an “international Pix.”
The proposal faces technical and regulatory challenges, but studies are progressing to enable transactions between different banking systems in the future.
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