PagSeguro is a Brazilian banking institution operating since 2006. It leads Brazilian online payments market, offering payment solutions for physical stores and e-commerce. In 2019, it created PagBank, a digital bank that currently has more than 9 million customers and 1.4 million active users.
As a financial institution, PagSeguro needed to adjust its systems to the Brazilian Central Bank’s Open Banking project, which would require a series of modifications and integrations in its software ecosystems. With the consultancy of Compass UOL and employing AWS’ technologies and know-how, the institution adapted its software architecture to receive the open banking system, according to the established requirements and standards.
PagSeguro needed to modify its software structure in order to meet the mandatory technical requirements of the phase 3 of Bacen's Open Banking project. For that, it had the challenge of integrating the open banking solution with PagSeguro's ecosystem and implementing all the regulatory requirements.
The structure should be set to accommodate new inter-institutional operations, such as the exchange of registration data, and other information on transactions carried out and customer preferences, with the goal of enabling financial transactions by companies or payment initiating institutions (Payment Initiated Service Provider – PISP). In addition to PIX (instant money exchange), phase 3 includes TED, TEF, bank slips and debited payments.
Compass UOL's software development squad created APIs for system integration between the financial agents participating in the Open Banking project, together with PagSeguro professionals. AWS, in addition to system hosting technologies, brought its expertise on standards, security policies and APIs authentication required by the banking system, based on open banking projects developed in other countries.
Full compliance to phases 2 and 3 to Brazilian Central Bank's Open Banking project.
Availability of APIs and User Interfaces that enable payments via PIX, with integrated Open Banking benefits.
Improved developer experience.
Fluid experience for the user when making payments, with interoperability through security APIs.
Initiation of payments via PIX on the PagSeguro system without friction.
Items developed already approved by OpenIdFoundation.
Software Engineering Manager at PagSeguro
PagSeguro PagBank is the payment company with the largest number of customers in Brazil and a digital bank with more than 9.4 million active single accounts. Our focus Read more