Boleto Bancario is an offical payment method regulated by the Brazilian Central Bank.
It is a push payment system launched in 1993, and now generates 2 billion transaction per year. Accounting for about 30% of all online payment transactioins, it is a must for doing business in Brazil. Boleto Bancario is popular for businesses and consumers alike who don't own a credit card or just prefer the security of online or cash payments.
Tha payment process for Boleto Bancario transactions is similar to wire transfer or cash payment methods. Customers are provided with a pre-filled Boleto Bancario bank slip that they can either print or use electronically. If they choose to print the form, they can pay with cash at any bank branch, or authorized processors such as drugstores, supermarkets, or post offices. If they choose to pay electronically, they can do so at over 48,000 electronic banking points in Brazil or through online banking.
Provides access to a larger pool of potential consumers b y tapping into non-credit card holders or those who prefer paying with cash.