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What is Boleto?

Boleto Bancario is a printed or virtual voucher with a barcode, payment details, and customer information. Boleto means ‘ticket’ and is a Brazilian cash payment method. It began in 1993 and is regulated by the Brazilian Federation of Banks. With over 40,000 processing locations across Brazil, Boleto is a widely accessible payment method for sending and receiving money. 

 

Why Boleto Bancario Is One of Brazil’s Most Popular Cash Payment Methods

Boleto can be used for anything from paying rent to e-commerce purchases. 

Boletos can be paid at thousands of locations across Brazil, from ATMs to digital banks to post offices to in-person branch banks, and convenience stores. Around 55 million Brazilians do not have a bank account, and others are hesitant to share their payment information online, so many choose alternative payment methods like Boleto. 

Boleto Bancario Logo

How Does Boleto Work?

When your customer uses Boleto as a form of payment, a Boleto or voucher is created specifically for their transaction which is then sent via email. Anyone with a bank account can issue a Boleto, with all the necessary payment information. It is a push payment, which relies on the consumer to initiate the payment, similar to using a bank wire. 

When your customer is ready to pay the Boleto, they can take it to any location that processes this payment method or alternatively, they can have it processed online. Once their Boleto payment is approved, the transaction is done. They will receive a payment confirmation immediately, while the actual payment will take additional time.

 

Why Merchants and Businesses in Brazil Use Boleto 

Because there is no chargeback risk and payments are made upfront, merchants tend to offer discounts for Boleto payments. Boleto ticket vouchers always include the cash amount and the due date by which the transaction must be completed. 

Boletos were originally created for cash only. However, they have evolved to work with both online and offline bank transfers. With over 40,000 processing locations across Brazil, Boleto is a widely accessible payment method for sending and receiving money. 

 

How Can I Start Accepting Boleto Bancario?

Boleto is one of Brazil’s most popular cash payment methods that has evolved to include online transactions. However, a local processing partner is required to accept and receive Boleto payments.

With Rapyd Collect, you can access more global payment methods, including Boleto, cards, eWallets, bank transfers, and cash payments.  Rapyd provides next-day settlement and robust fraud protection too. 

Learn why we’re the world’s largest local payments network. 

 

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