PagBrasil, a payment processor in Brazil, has launched a product that provides accelerated confirmation for online payments made using boleto bancario, the electronic payment method in Brazil.

The company¬ís new offering, Boleto Express, allows merchants consumers to receive same-day refunds and expedited confirmation for boleto payments. 

Pag Brasil also includes functionality that allows users to define an expiration period for each boleto, said Alex Hoffmann, PagBrasil's co-founder and chief executive, in an Oct. 9 press release.

Boleto bancario is a payment method that can be obtained online, at banks or at authorized drugstores and supermarkets.

A number of companies are pursuing payments automation Brazil, including Global Payments, which has entered into partnerships to enter the local market; and iZettle, which recently launched its mobile card reader in Brazil.   

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