EBANX and Pagaleve Launch Pix 4x, Bringing Card-Free BNPL Instalment Plans to 60 Million Brazilians
EBANX and Pagaleve Launch Pix 4x, Bringing Card-Free BNPL Instalment Plans to 60 Million Brazilians #
EBANX, the Brazilian global commerce platform, has partnered with domestic payments fintech Pagaleve to launch Pix 4x, a buy now, pay later product that lets consumers split purchases into four biweekly instalments without needing a credit card.
The product, announced on 28 July, combines two prominent features of Brazilian consumer finance: the widespread habit of paying in instalments, practised by around 70% of the population according to Serasa Experian, and the Pix instant payment system, adopted by 96% of the country’s adult population since its 2020 launch. Pix 4x is designed for the estimated 60 million Brazilians who hold no credit card, a figure cited by Brazil’s Central Bank, as well as for those whose credit limits are too low to cover larger purchases.
At checkout, the consumer pays the first of four biweekly instalments immediately via Pix; the merchant receives the full payment at once, while Pagaleve absorbs 100% of the default risk. That risk assessment is handled by Pagaleve’s proprietary AI-driven credit-scoring engine, which evaluates eligibility in real time without requiring a traditional credit card or bank account.
Through its existing merchant network, EBANX will make the product available to more than 500 merchants in online retail, gaming, social media, and online education. Sebastian Fantini, Director of Product at EBANX, said in the company’s announcement that by combining Pagaleve’s risk engine with EBANX’s merchant reach and Pix’s scale, the partnership aims to create “a truly open BNPL platform accessible to any customer, anywhere in the country.” Eduardo Zucareli, Pagaleve’s Chief Commercial Officer, added that the model is designed to break down traditional credit barriers for consumers who have previously been excluded from instalment purchasing.
According to EBANX’s own research, offering instalment options can boost average order values in Brazil by as much as 2.7 times, while retailers adding the feature have recorded an average 20% uplift in revenue, with SaaS providers reporting peaks of 22.5%. Brazil’s BNPL e-commerce segment is projected to reach $2.7 billion by 2028, growing at an 8% compound annual rate from 2024, based on data from Payments and Commerce Market Intelligence analysed by EBANX. Last year, instalments accounted for 47% of all e-commerce transaction value in Brazil, placing the country second among 15 emerging markets tracked by the same data provider, behind only Argentina.
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