Visa Starts New Brazil Venture to Enter Pix Market
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Visa has launched a new company in Brazil called Visa Conecta, marking a step in its strategy to move beyond cards and build a stronger presence in real-time payments, starting with Pix.
Visa Conecta will operate as a Payment Initiation Provider (PIP), enabling users to complete Pix payments directly on e-commerce platforms without the need to scan a code or switch to a banking app. This follows a new one-click payment flow introduced by Brazil’s Central Bank in February.
The company applied for a Central Bank license in November 2024 and expects approval by November 2025. Until then, it plans to begin operations in September using the license and infrastructure of local partner Celcoin, while the experience will be fully branded and delivered by Visa.
The platform will rely on Tink's tech, the open banking firm Visa acquired in 2022 for €1.8 billion. All of Visa’s future open finance products in Brazil will be developed under the Visa Conecta brand.
Leonardo Enrique Silva, who will lead the new company, said the launch follows extensive conversations with clients. “Almost all of [our clients] told us the Achilles’ heel of Pix is conversion,” he said. The goal is to reduce friction and improve checkout performance for merchants.
Revenue expectations have not been disclosed, but Enrique noted the new venture is expected to become “an important pillar for Visa, both in terms of revenue and reach.” He also confirmed that additional open finance products are already in development.
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