- According to the Mercado Pago’s VP, Tulio Oliveira, the agreement reflects the perception that the competitive environment in Brazil’s financial services tends to grow this year;
- Specially considering of regulatory novelties implemented by the Central Bank, which also includes open banking.
Mercado Pago, the financial services arm of Mercado Libre, announced on Thursday it will process PIX (Brazil’s new instant payments system) operations for the fast-food chain Burger King and the fashion retailer C&A.
According to the Mercado Pago’s VP, Tulio Oliveira, the agreement reflects the perception that the competitive environment in Brazil‘s financial services tends to grow this year, in the wake of regulatory news implemented by the Central Bank, which also includes open banking.
Launched in November, PIX allows instant payment 24 hours a day, 365 days a year. According to Oliveira, 7 of the 20 million active users of Mercado Pago in Brazil already use PIX daily.
READ ALSO: Handling of salary accounts via PIX is the Central Bank’s bet for 2021
The executive also said that the fintech evaluates partnerships with other payment partners, including messaging services such as WhatsApp. On Wednesday, executives from Cielo, Brazil’s largest acquiring company, predicted that the Central Bank is likely to authorize WhatsApp Pay operations until June.
Translated by LABS
