Banco do Brasil announced today the launch of its Pix instant payment system for Brazilians in Argentina. The new feature allows any Brazilian user to make purchases at participating physical stores in the neighboring country, regardless of whether they hold an account with Banco do Brasil.
The cross-border service is made possible through a partnership with Banco Patagonia, an Argentine bank controlled by Banco do Brasil, and leverages the technological infrastructure of Coelsa, a payments technology provider.
This move is part of Banco do Brasil’s broader global strategy, which includes plans to extend Pix-like instant payment capabilities to other countries across the Americas, Europe, and Asia—especially regions with large Brazilian communities.
Felipe Prince, Banco do Brasil’s Vice President of Internal Controls and Risk Management, said the initiative strengthens the bank’s international presence and commitment to payment innovation. Oswaldo Parre, CEO of Banco Patagonia, added that the launch marks a step forward in regional integration.
In 2025, Mercado Pago enabled Argentine tourists to use Pix in Brazil, and fintechs like PagBrasil also introduced similar cross-border payment solutions.
How Pix Works in Argentina
The user experience mirrors that of Pix in Brazil. To pay, a Brazilian customer simply scans a QR code displayed by the Argentine merchant—whether on a card machine or another device—using their preferred banking app. No additional registration or prior authorization is required.
Behind the scenes, Banco do Brasil processes the international transaction, handles the currency exchange, and debits the amount in Brazilian reais from the user’s account. The Argentine merchant receives the payment in their local currency.
As with any international financial operation, the transaction is subject to Brazil’s Financial Operations Tax (IOF). The final amount—including exchange rates and applicable taxes—is shown on the app’s confirmation screen before the payment is completed. In the user’s bank statement, the transaction appears as a regular Pix transfer.
Source: Terra
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Banco do Brasil is not Brazil’s Central Bank. That would be Banco Central.
oh fuck, you right
I was a bit distracted writing this one