Porto-based fintech Eupago has teamed up with Brazilian company PagBrasil to introduce PIX, Brazil's most widely used electronic payment and money transfer system, to Portugal and Spain. The service, called EuroPix, is now available at 22,000 businesses in both countries.
EuroPix allows Brazilians living in or visiting Portugal to use PIX, a system similar to Portugal's popular MB Way. The initiative is aimed at attracting over 500,000 Brazilians residing in Portugal, as well as the 2 million Brazilian tourists who visit the country annually. Eupago's CEO, Santos, believes that the adoption of PIX will enable local businesses to expand their reach to new customers, eliminating barriers like exchange rates and increasing revenue by 20%.
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