Boku, a global provider of localized payment solutions, has been granted a Payment Institution license by the Central Bank of Brazil (BCB). This authorization allows Boku to operate as both a Payment Initiator and an E-money Issuer within Brazil’s evolving Open Finance ecosystem, specifically as a Payment Initiator Service Provider (PISP).
This license is a crucial step towards enabling seamless Pix payments without redirection (JSR) for Boku. The company is now positioned to make Pix Automático available to merchants by early 2026, which will support recurring payments and help merchants access Brazil’s digital-first, cardless payment landscape.
Pix, launched by the Brazilian Central Bank in 2020, has become the country’s most popular payment method. It is used by over 76% of adults and is particularly favored by younger consumers utilizing digital banking platforms. Since its inception, Pix has significantly transformed Brazil’s payment ecosystem, driving widespread adoption of digital transactions. Currently, over 70% of adults and 15 million businesses use Pix, accounting for 45% of all payments and 30% of e-commerce payments in the country. Approximately 20% of Brazil’s total transaction value now flows through Pix, highlighting the scale of this digital payment shift.
Pix Automático, which launched in June 2025, addresses the increasing consumer demand for convenience by enabling recurring payments for services such as streaming and subscriptions. This feature is particularly relevant in a market where ease of use can often take precedence over brand loyalty. Boku’s 2024–2028 Global Ecommerce Report indicates that 78% of Brazilian respondents would consider changing payment methods for benefits like lower fees, enhanced security, or improved ease of use.
With its new Payment Institution license, Boku is authorized for Payment Initiation and E-money Issuance in Brazil. This authorization is a prerequisite for its participation in future Pix and Open Finance initiatives, allowing Boku to expand its market capabilities upon further approvals. The introduction of Pix Automático complements existing one-time Pix capabilities by enabling merchants to offer subscription billing directly through the Pix ecosystem. This development opens new use cases for businesses with subscription-based models, such as digital entertainment platforms, by streamlining payment collection. Together, these Pix functionalities aim to reduce checkout friction, improve conversion rates, and expand access for unbanked consumers, thereby accelerating the regional adoption of local payment methods.
Stuart Neal, CEO of Boku, stated, “Our mission is to let consumers everywhere pay for what they love in the way they prefer. For merchants, that means offering localized options that unlock new growth. Our commitment to expanding local payment options—like Pix Automático —shows how innovation can drive financial inclusion at scale. Brazil is setting the pace and Pix Automático, reflects that vision—reaching more users and making everyday payments simpler and more inclusive.”
Ricardo Amaral, VP LATAM at Boku, added, “Brazil is leading a payments revolution, and Boku is proud to help shape its future. This next chapter centers millions of Brazilian consumers— who might not be credit-card holders, as well as those who prefer simpler and more secure ways to pay. Pix Automático is our next frontier, and with our new BCB-issued Payment Institution licence, we’re on track to make it available to merchants in early 2026. At Boku, we bring deep expertise in local payments and a commitment to expanding choice. By helping global merchants adopt local payment methods like Pix, we’re turning Brazil’s digital economy into a blueprint for growth across Latin America.”
Brazil’s leadership in digital payments is influencing other Latin American markets. Colombia plans to launch a Pix-inspired real-time system in September 2025 via Bre-B, while Mexico and Argentina have established systems like DiMo and Transferencias 3.0, which utilize QR code interoperability. The region is demonstrating a broader shift from traditional card-based payments to diverse local payment methods. Boku, now a licensed Payment Institution, is positioned to support merchants in this regional payments transformation.
Boku specializes in building a global network of localized payment solutions, including digital wallets, direct carrier billing, and account-to-account (A2A) / real-time payment schemes. Boku’s global payments network encompasses over 250 local payment methods worldwide, serving more than 7.5 billion consumer payment accounts across over 70 countries. The company partners with major merchants such as Amazon, Google, Spotify, Meta, Microsoft, Netflix, Tencent, and Sky. Established in 2008, Boku Inc. is headquartered in London, UK, with offices in the US, India, Brazil, China, Estonia, France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan, and Vietnam.
