PIX could end one of the main pains of e-commerce in Brazil – boleto transactions. Nearly 50% of all boleto transactions do not convert into sales. It happens because the customer issues a boleto but does not pay it, and since there is a fixed cost per issued boleto, unpaid boletos can get costly.

For e-tailers, it creates a bigger issue because once a boleto is generated, the e-commerce has to block the item sold from its stock, only to find out a few days later that the boleto was not paid. While there is a one-hour payment solution for boletos issued during banking hours, weekends can be hectic for e-commerce managers as the confirmation comes in on Mondays only.

Pix will solve this issue because it will work like a debit payment. Once the end-customer chooses PIX at the check-out, the confirmation will happen in real-time, just like a credit card transaction. The merchant is certain of payment and can render the service or ship the product right away.

PIX will allow non-credit-card holders to purchase online in a more efficient way because it will make the buying experience more friendly. The rollout of the new payment method remains in November.

For merchants, PIX will be cheaper than credit card transactions, and as expected, it will be free for the payee.