Even after Pix rose to the top spot in Brazilian online payments at over roughly 40%, the consumer habit of completing payments inside their primary bank's app remains a source of demand for bank-button payments. Itaú, Brazil's largest private bank, has a vast retail customer base and app user base, so for Itaú account holders, approving on this familiar screen carries a lower psychological barrier than entering card details.

For industries where trust heavily influences purchase decisions — such as financial services, insurance, and education — or for merchants with a high share of middle-aged-to-older Itaú customers, placing a bank button alongside Pix broadens account-based payment options. Since it's unusable by other banks' customers, it's common to bundle buttons for four or five banks together rather than adopting one alone.

When a consumer selects Itaú at checkout, they are redirected to the Itaú online banking login screen, and after authenticating, they confirm and approve a pre-filled transfer to complete the payment. The approval result is notified to the merchant in real time. Hecto Financial receives the funds in BRL, converts them, and settles them in the contracted currency among USD, KRW, or JPY, and the order can be confirmed as soon as the transfer completes.

Through Hecto Financial's integration, merchants in Korea can consider bank-button payments without partnering directly with Itaú. Since this method is limited to consumers with an Itaú account, it's worth discussing together whether to bundle it with other bank buttons such as Bradesco, Banco do Brasil, and Santander.

• Business registration country

  Confirm contract eligibility for merchants registered in Korea

• Sales channel

  The integration method and priorities differ depending on your online sales channel mix, such as your own site, open marketplaces, or mobile apps

• Product category

  Confirm in advance whether your category falls under restricted industries per ITAU's operator merchant policy

• Local regulatory compliance

  Confirm compliance with Brazil's payment and foreign exchange regulations (see official sources below)

Funds coming in through Itaú transfers are received in BRL and, after conversion, paid out in the USD, KRW, or JPY chosen in the contract. Refunds for bank-transfer-type payments are processed as a return transfer to the consumer's account, so it's best to define the refund process and expected timeframe in advance to prepare for 7-day right-of-withdrawal requests guaranteed under Brazil's CDC.

• Central Bank of Brazil (Banco Central do Brasil)Official information on Brazil's payment systems and related regulations. If this page's content differs from the actual regulations, the official source takes precedence.