What is Boleto? Boleto Review

introduce

Boleto is a cash payment. The seller needs to print an invoice online, which contains the payee, payee information, and payment amount. The payee can print the invoice and go to a bank or post office, as well as some pharmacies, supermarkets, etc. to complete the payment. In addition, the payment can be completed through online banking.

Basic Situation

Coverage: All of Brazil

Trading currencies: USD, EUR, BRC

Transaction limit: $1-3,000 per transaction; no more than $3,000 per month

importance

Boleto is the most commonly used payment method in Brazil. The utilization rate of online credit card payment in Brazil is not high. Domestic online payment is mainly through bank transfer and Boleto payment. Boleto is a payment method supported by many Brazilian banks using Bar Code identification code. 81% of Brazilians do not have credit cards for cross-border consumption. It occupies a dominant position in Brazil. Customers can go to any bank or use online banking to authorize bank transfers.

Features

1. Once payment is made, there will be no chargeback or counterfeiting, ensuring the transaction security of the merchant;

2. Support online and offline payment. Consumers need to print the payment slip online and pay through online banking, offline banking or other designated outlets;

3. The single payment limit is between 1 USD and 3,000 USD; the monthly cumulative payment does not exceed 3,000 USD;

4. It is not a real-time online payment. Consumers can pay within 1-3 days. Each bank needs 1-3 working days to complete the data exchange, so each transaction usually takes about 2 days to a week to complete the payment.

Advantages of BOLETO

No bank account or personal account information required.

Payment can be made at ATMs, post offices, branches or supermarkets.

Payments can be made at 48,000 electronic banking points in Brazil.

Consumers need to place orders online and make payments through online banking, offline banks or other designated outlets.

After consumers place an order, there is a validity period of 3 to 10 days to make payment.

Boleto is usually the only payment method supported by Brazilian companies and government departments. It can be said that it is the only choice for cross-border e-commerce to connect to Brazilian payments.

Refund

Boleto refunds are not related to the original payment and must be manually transferred to the consumer through the issuance of checks or bank transfers. Boleto will deduct the refund amount at each settlement.