EBANX has entered a partnership with Pagaleve to introduce Pix 4x, a Buy Now, Pay Later solution that allows purchases to be split into instalments using Pix, Brazil's instant payment system, rather than a credit card. The product combines an established local preference for instalment purchasing with Pix, which is used by 96% of the country's adult population, according to Brazil Central Bank.
Instalment payments are a long-standing feature of consumer spending in Brazil, used by 70% of consumers according to Serasa Experian. However, this form of payment has traditionally required a credit card. Pix 4x removes that requirement, splitting purchases into four fortnightly instalments. According to Brazil's Central Bank, 60 million people in the country do not hold a credit card, while others face low credit limits that restrict instalment access.
Through the partnership, the solution is intended to extend instalment purchasing to these segments across more than 500 merchants operating in online retail, gaming, social media, and online education, connected through EBANX's merchant network.
Market context
Payments and Commerce Market Intelligence (PCMI) data projects Brazil's digital commerce market will reach USD 586 billion by 2028, up from USD 346 billion in 2025. Separately, ecommerce spending processed through instalments in Brazil is projected to reach USD 2.7 billion by 2028, a compound annual growth rate of 8% from 2024 to 2028, according to the same data. In 2025, 47% of ecommerce transaction value in Brazil was processed through instalments, the second-highest share among 15 emerging markets analysed by PCMI, after Argentina at 60%.
EBANX's Beyond Borders 2026 study found that instalments can increase Average Order Value in Brazil by up to 2.7 times, with retailers offering the option recording an average revenue increase of 20%, and SaaS providers recording increases of up to 22.5%.
How the technology works
Pix 4x is built on Pagaleve's risk analysis engine, which uses machine learning to complete credit assessments in under three seconds, evaluating more than 100 data points covering the product purchased, transaction amount, seller, customer profile, credit score, device, and IP address. A company representative said the model achieves approval rates two to three times higher than competitors, with a delinquency rate of 2%.
Under the arrangement, shoppers pay the first of four fortnightly instalments at checkout, while merchants receive payment upfront and Pagaleve assumes the default risk. According to Pagaleve, one retailer using the platform recorded a 40% increase in Average Order Value, a rise in conversion rates of up to 20%, and a 5% increase in total ecommerce sales, with 82% of new shoppers using the solution.
