← 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

Central Bank of Brazil authorized PagBrasil as a Payment Institution (electronic money issuer)

2025

Partnership with Bancard (Paraguay) targeting $100M in cross-border Pix transactions in 2025

Product timeline

Launched Boleto Flash® and Débito Flash® as proprietary local payment methods.· product

Became the first Latin American PSP certified by Salesforce as an ISV Partner on the AppExchange (Salesforce Commerce Cloud).· product

Launched RoamingPay for real-time cross-border instant payment interoperability (Brazil + Argentina, expanding across LatAm).· product

Launched Automatic Pix and 1-Click Pix without redirection; PagStream® subscription management platform.· product

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

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)Cielo Rede Stone

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.

PagBrasil — frequently asked

Who is PagBrasil's payment processor?

PagBrasil processes payments through PagBrasil (self-operated), Cielo, Rede and Stone.

Which card network does PagBrasil use?

PagBrasil's cards run on Visa and Mastercard.

Which open banking provider does PagBrasil use?

PagBrasil connects to bank accounts through PagBrasil (self-operated PISP).

Who handles PagBrasil's FX and cross-border payouts?

PagBrasil uses PagBrasil (self-operated) for FX and cross-border payouts.

Which accounting software does PagBrasil integrate with?

PagBrasil integrates with Shopify, Salesforce Commerce Cloud, VTEX, Stripe Billing (via Altruon), Chargebee (via Altruon) and Recurly (via Altruon).

What is PagBrasil's embedded finance stack?

The Embedded Finance Index 2026 maps 5 layers in PagBrasil's stack: Payments / PSP (PagBrasil (self-operated), Cielo, Rede and Stone); Card network (Visa and Mastercard); Open banking (PagBrasil (self-operated PISP)); FX & payouts (PagBrasil (self-operated)); Accounting (Shopify, Salesforce Commerce Cloud, VTEX, Stripe Billing (via Altruon) and 2 others).

Where is PagBrasil headquartered?

PagBrasil is founded in 2010 and headquartered in Porto Alegre, Rio Grande do Sul, Brazil.

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