← Embedded Finance Index 2026

PagBrasil

“Can a Brazil-focused local payments specialist become the default cross-border rails connecting global merchants and wallets to Pix?”

Founded2010
HQPorto Alegre, Rio Grande do Sul, Brazil
IndustryInfrastructure / Payments
The story

PagBrasil started in 2010 as a payment gateway/sub-acquirer (PSP) specialized in helping international merchants accept Brazilian local payment methods (boleto, credit-card installments, later Pix). The company progressively moved up the stack: from pure gateway routing across Cielo/Rede/Stone to a full acquiring-adjacent facilitator with proprietary products like Boleto Flash® and Débito Flash®. The strategic inflection came at the end of 2024 when the Central Bank of Brazil authorized it as a Payment Institution (electronic money issuer), removing its dependency on sub-acquirer status and enabling wallet, prepaid, and cross-border products in-house. RoamingPay extends this into cross-border Pix interoperability — positioning PagBrasil as infrastructure for global banks/wallets to access Brazil's instant payment rails.

Last 12 months
2024-12
2025
Product timeline
0
Launched Boleto Flash® and Débito Flash® as proprietary local payment methods.· product
0
Became the first Latin American PSP certified by Salesforce as an ISV Partner on the AppExchange (Salesforce Commerce Cloud).· product
0
Launched RoamingPay for real-time cross-border instant payment interoperability (Brazil + Argentina, expanding across LatAm).· product
0
Launched Automatic Pix and 1-Click Pix without redirection; PagStream® subscription management platform.· product
0
Partnership with Bancard (Paraguay) to enable cross-border Pix; targeted $100M Pix transactions in 2025.· partnership
2010
PagBrasil founded in Porto Alegre as a specialist payment processor for the Brazilian market.· founding
2024
Received authorization from Central Bank of Brazil to operate as a Payment Institution (PI) as an electronic money issuer (announced Dec 31, 2024).· regulatory
Regulated entities
2
regulatory licences held by PagBrasil
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in PagBrasil’s embedded-finance stack
Payments / PSP
PagBrasil (self-operated)CieloRedeStone
Card network
in the full report
Open banking
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: minor
10 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.