PagHiper Gets Approval from Central Bank to Operate as a Payment Institution

Brazilian fintech firm, PagHiper, specializing in Pix and bank receipts for e-commerce, has been approved by the Central Bank to function as a payment institution (PI). The authorization enables it to engage in the issuance of electronic currency, allowing the management of prepaid payment accounts.

PagHiper’s Growth Journey

PagHiper, founded in 2014 with the objective of offering payment intermediation services, reached approximately a thousand e-commerce clients within two years. Today, it supports thousands of businesses across Brazil with its solutions. With the regulator’s license, the company aims to expand its service portfolio. This includes issuing cards, bill payments, and additional Pix features.

Strategic Alliances and Expansion

In addition to expanding its services, the fintech firm plans strategic partnerships with financial institutions to introduce new products, such as credit. “The growth will be gradual and the expectation is to double our operations in 2024,” stated Weslley Ribeiro da Silva, CEO and co-founder of PagHiper.

With this license, PagHiper joins around 110 institutions that have been greenlit by the Central Bank to operate as a PI in Brazil, a number that has been steadily increasing as more companies seek approval to function as payment initiators in Open Finance.