Boku Secures Foothold in Brazil's Payment Landscape with Pix and Open Finance License
Boku has secured a significant foothold in Brazil's payment landscape. The company has been granted a license by the Central Bank of Brazil (BCB) to operate as a Payment Initiator and E-money Issuer. This move positions Boku to participate in Pix and Open Finance, with Pix Automático being the next frontier.
Brazil's leading payment method, Pix, has seen remarkable growth since its launch in 2020. Over 70% of adults and 15 million businesses now use Pix, accounting for 45% of all payments and 30% of e-commerce payments. Pix Automático, launched in June 2025, further enhances this ecosystem by enabling recurring payments for services like streaming and subscriptions.
Boku's new license authorizes it to act as a Payment Institution in Brazil, covering Payment Initiation and E-money Issuance. Ricardo Amaral, VP LATAM at Boku, expressed pride in helping shape Brazil's payment future, with Pix Automático being the next step. Stuart Neal, CEO of Boku, echoed this sentiment, stating that the company's mission is to simplify everyday payments and make them more inclusive.
With its new license, Boku is poised to participate in Brazil's Open Finance ecosystem as a Payment Initiator Service Provider (PISP). The company is on track to make Pix Automático available to merchants in early 2026, further reducing checkout friction and expanding the reach of Pix.
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