EBANX and Pagaleve launch Pix 4x to expand BNPL access in Brazil

EBANX has teamed up with Pagaleve to launch Pix 4x, a BNPL (Buy Now, Pay Later) product that lets shoppers split purchases into four biweekly installments using Pix. For high-risk merchants and PSPs, the point is straightforward: this brings installment payments to customers without a credit card, while plugging into Brazil’s near-universal instant payments rail.

1. Pix 4x combines Pagaleve’s risk engine with EBANX’s global merchant network and Pix, which is used by 96% of Brazil’s adult population. The product is designed to let consumers pay in four installments without needing a credit card, a useful workaround in a market where installment buying is already part of consumer behavior.
2. EBANX says 70% of consumers in Brazil already use installment payments, according to Serasa Experian. The new structure extends that habit to people who do not have card access, including the 60 million people in Brazil who do not own a credit card, according to the Central Bank of Brazil, as well as consumers with low credit limits.
3. “Brasil tiene uno de los ecosistemas de pagos más sofisticados del mundo y el mayor mercado de comercio electrónico de América Latina, pero millones de consumidores han quedado excluidos de los pagos en cuotas debido a barreras de crédito,” said Sebastian Fantini, Product Director at EBANX. He said the integration creates “a truly open BNPL platform” available to any customer anywhere in the country.
4. Eduardo Zucareli, Chief Commercial Officer of Pagaleve, said the model removes traditional barriers because consumers do not need a credit card or available credit limit to pay in installments. He said this opens access at scale to two groups: people without credit cards and those with restrictive credit limits.
5. EBANX, using data from Payments and Commerce Market Intelligence (PCMI), projects Brazil’s digital commerce market will reach US$516.000 million by 2028, up 54% from US$336.000 million in 2025. It also says BNPL spending in Brazil is expected to reach US$2.700 million by 2028, with an 8% CAGR between 2024 and 2028. Last year, 47% of e-commerce transaction value in Brazil was processed through installment payments, putting the country second among 15 emerging markets analyzed by PCMI, behind Argentina.