About payments
Payments type: PIX and TED.
We process two types of payments for Pay Out: PIX (brazilian instant payment/bank debit) and TED (brazilian electronic bank transfer). Depending on which you choose for your processing flow you are faced with different contexts. For example:
| Instant payment processing | Electronic Payment processing |
|---|---|
| Processing window: 24/7, including weekends and holidays. | Processing window: working days, banking business hours only. |
| Confirmation: within 10 seconds. | Confirmation: D+1 |
| Payment information required: bank details + bank code + branch + account and account digit OR pix keys (CPF, phone, email and random key). | Payment information required: bank details + bank code + branch + account and account digit |
Type of operation for International Merchant
There are two types of operations, you may contact our team to check which meets your company profile and contract
Remittance Payments: Payment of money that is transferred to another party usually for resident support. For this type of payment you will be asked to inform the remitter name and country information.
Usual Payments: Payments related to goods and services, in this case you will be asked to inform the payment origin.
PIX (Instant Payment)
What is PIX ?
A brazilian payment solution that settles funds transfers in a few seconds, assuring the immediate availability of funds to the final beneficiary
PIX Key
The PIX key is used to link the user's information to the bank transfer details, which may be a CPF/CNPJ number (TIN), e-mail, cell phone or random key. Know more about Pix in the Brazil central bank homepage.
CPF and CNPJ
The Cadastro de Pessoas Físicas (CPF; Portuguese for "Natural Persons Register") is the Brazilian individual taxpayer registry identification, a number attributed by the Brazilian Federal Revenue (Receita Federal do Brasil) to both Brazilians and resident aliens who pay taxes or take part, directly or indirectly, in activities that provide revenue for any of the dozens of different types of taxes existing in Brazil.
A CPF is 11 digits long, with nine base digits, and two digits at the end that are the result of an arithmetic operation on the first nine numbers, meaning any typing mistakes will lead to an invalid number. Here is an example of a CPF: 231.002.999-00
A CNPJ is also a taxpayer identification number, but it’s used for businesses, not individuals. All businesses that are formed in Brazil must apply for a CNPJ number at the time of formation. Foreign companies that wish to invest or own assets in Brazil must also have a CNPJ number.
A CNPJ is a 14-digit number; 12 base digits and two digits at the end that are the result of an arithmetic formula of the base numbers, making any typing mistakes when entering the number lead to an invalid number. Here is an example of a CNPJ: XX.YAX.532/0001-09.
Brazilian Bank Account Information
In Brazil there are two types of bank data, the pix key and the conventional data, which are composed of:
All bank accounts in Brazil have the following information: Bank code: this is the number with 3 characters that specifies which is the bank (each bank has its own code, for example 341 for ITAU) Bank Branch: About 4 numbers that identifies the branch for each account (in case it has 5 numbers, the mandatory is only the 4 firsts) -ex: branch is 45679 - the 9 is the digit, you don't have to inform it Branch Digit: not mandatory, not all the banks have it, but when they have it is the last number Account number: mandatory number to identify the account - it can be up to 15 characters normally, it depends on the bank Account digit: mandatory field - it is always the last number of the account - for example: 38219-7 (7 is the digit), It must be informed separated from the account number. Account type: Mandatoy field to identify the account type. S for Savings and C for checking
Bank account number can be used for electronic payment or instant payment methods. The pix key is only available for instant payments (pix).