Cross-border payments in Latin America: how to use SPEI, PIX, PSE and CBU/CVU via one API

Moving money across LatAm is shifting from prefunded correspondent models to instant local rails. This guide shows how to run cross-border payments over SPEI, PIX, PSE and CBU/CVU with a single API, when USDC→MXN liquidity makes sense, and how to reconcile at scale—so Treasury releases idle capital, shortens settlement to minutes, and gains end-to-end visibility.

For Finance/Treasury teams, the impact is immediate: less idle capital, lower FX exposure, and real-time operational visibility. At a business level, it enables launches and market entry in weeks, not months.

The local rails you must master: SPEI*, PIX, PSE, and CBU/CVU

To make Cross-border payments in Latin America feel domestic, you need to understand how transactions actually settle in each country and which operational data each rail requires. SPEI* in Mexico is a push transfer system with seconds-level settlement and true 24/7/365 availability. Accounts are identified by the 18-digit CLABE, and each transfer carries a numeric reference and payment concept—both essential for reconciliation. 

When you integrate via an API for cross-border payments LATAM, those fields can be mapped to your internal IDs so matching is automatic. Unlike cards, SPEI* doesn’t use chargebacks: if there’s an error, you process returns or refunds through mirror messages, typically reflected in seconds or minutes, which makes the accounting flow predictable. Another operational detail is finality: once credited, the payment is final and appears immediately in the beneficiary’s account, including weekends and holidays.

 PIX in Brazil is also an instant rail, with typical settlement below 10 seconds. It operates with chaves (phone, email, CPF/CNPJ, or a random key) and supports both static and dynamic QR for collections, plus features like Pix Cobrança (invoices with due dates) and Pix Saque/Troco for cash-out at merchants. If you disperse thousands of payments per day, dynamic channel limits (app, web, nighttime) and online CPF/CNPJ validation are critical to minimize rejects and fraud. For reconciliation, PSPs record end-to-end IDs that let you match each payment to the originating order and invoice.

If your use case requires mass payouts Latin America, PIX supports programmatic batches and asynchronous confirmations via webhooks so your ERP can update statuses in real time.

In Colombia, PSE (Pagos Seguros en Línea) functions as a bank orchestrator operated by ACH Colombia. The user selects their bank, authorizes a debit from a checking or savings account, and your business receives an immediate confirmation to release the service. 

Many institutions credit T+0 (same day) and interbank financial settlement is typically consolidated at day’s end, which is why it’s key to distinguish “confirmation to release” (what your front end sees) from “accounting settlement” (what Treasury and Reconciliation will see). PSE is particularly effective for high-value cash-in at a competitive per-transaction cost versus cards and with virtually no chargeback risk, because it’s a push from the customer’s online banking.

In Argentina, transfers use CBU (bank) and CVU (virtual)—both 22 digits—and are interoperable 24/7. The Central Bank’s Transferencia 3.0 standardized interoperable QR and immediate messages; aliases also simplify data capture (e.g., “my.company.suppliers”). For B2B operations, it’s best to enable electronic receipts with the payment ID, the recipient’s CBU/CVU, and document type (CUIT/CUIL) so the ERP can reach >95% auto-match. In “dollars to pesos” scenarios (or the reverse) where you execute FX plus a local payout, your provider should anchor each disbursement to an order with fiscal and accounting support fit for group audits. 

Across rails, all are push, have extended availability, settle in seconds, and are nearly final. The difference between a smooth experience and friction isn’t the rail—it’s how you integrate: pre-validation (CLABE/CBU/CVU/CPF), limit management, idempotency keys to avoid duplicates, retry policies, and reliable webhooks for reconciliation. When that backbone is coordinated by an API for cross-border payments LATAM, you can orchestrate collections and payouts over SPEI*, PIX, PSE, and CBU/CVU with a single integration, keep auditable logs, and dramatically reduce time-to-cash.

Compliance and market entry without a local entity

The practical question isn’t just whether you can collect and pay, but under which regulatory framework and with which responsibilities when you don’t have a local entity. In Mexico, providers operating with SPEI* typically do so as IFPE institutions, supervised by the CNBV and Banco de México. For your legal team, this means your partner must execute corporate KYC (articles of incorporation, beneficial owner, powers of attorney, tax documentation), AML/CTF policies, local and international restricted-list screening, and UIF reporting when applicable. 

When you convert dollars to pesos and disburse via SPEI*, the provider acts as payer-of-record, issuing receipts and maintaining a local ledger to support your consolidated books—without forcing you to open Mexican bank accounts.

In Brazil, operating PIX requires participation in the Central Bank’s arranjo as an instituição de pagamento (direct or indirect PSP). Beyond KYC/AML, there are transactional fraud controls (night limits, device analysis, behavioral scoring) and compliance with LGPD (data protection). For foreign companies, a local provider can process and settle BRL to your beneficiaries and—if you need hard-currency reconciliation—mirror the entry in your central ledger. If your flow includes converting dollars to pesos or to reais, your partner should maintain a clear FX policy, pricing documentation (for audits), and full traceability of spreads and fees.

In Colombia, PSE coexists with the SEDPE framework and supervision from the Superintendencia Financiera. Onboarding includes SARLAFT, NIT and legal-representative validation, and UIAF reporting when applicable. Because PSE confirmations are immediate while settlement may consolidate at end-of-day, it’s important to agree on funding SLAs and reconciliation tolerances (e.g., 24–48-hour auto-match windows) to avoid overreacting to temporary timing differences. 

In Argentina, PSPCPs (payment service providers that offer payment accounts) operate under the BCRA and must comply with UIF KYC/AML and CBU/CVU interoperability rules. If you execute Mass payouts Latin America to CVU (fintech) accounts, confirm your provider supports tax receipts and withholding when applicable, since these affect the beneficiary’s net settlement. For group audits, you need reconciliation files with CBU/CVU, CUIT/CUIL, and order references, plus digitally signed statements.

When your flow uses Stablecoins for business payments (e.g., funding in digital dollars with local settlement), Travel Rule obligations (FATF Recommendation 16) apply if there are transfers between VASPs. In practice, the provider must exchange and safeguard originator/beneficiary data, apply sanctions screening (OFAC, UN, and local lists), and maintain point-to-point traceability of FX and on/off-ramp activity. 

This lets you run Cross-border payments in Latin America to banking standards without opening entities, accounts, or contracts country by country. A serious corporate onboarding takes 1–3 weeks depending on jurisdiction and projected volume; prepare expected monthly volume, corridors, use cases, and your internal compliance policies upfront to expedite approval and reduce back-and-forth.

USDC to MXN liquidity: how it works and when it makes sense

Stablecoins for business payments—particularly USDC—have become a treasury tool to move between currencies with near-instant settlement and predictable costs. A typical flow looks like this:

1. The company funds in USDC.
2. Executes FX from USDC to MXN with its provider.
3. Pays the final recipient via SPEI (employee, vendor, or platform).

For a practical, real-world walkthrough of how SPEI/PIX and stablecoins work together to free up capital, see this overview: Real-time without friction: how to combine SPEI/PIX with stablecoins.

In 2024, stablecoins represented an average 51.8% of Bitso Business balances, with USD 8.4B converted to stablecoins YTD and 45% of volume from companies outside LatAm—direct evidence of stablecoins’ role in cross-border B2B.

On the US→MX corridor, this route enables USDC to MXN liquidity 24/7 and reduces immobilized float. In remittances, Bitso Business handles >10% of the US→MX flow, the world’s largest corridor (USD 65B in 2023).

What to demand from an API for cross-border payments in LATAM?

A unified API should cover collections, payouts, and FX across multiple countries with one integration, clear webhooks, and reconciliation tools that assign unique IDs per transaction, country, and rail. It should also offer 24/7 operations, batch reporting, and support for Mass payouts Latin America (payroll, suppliers, creators). Leading providers give you access to Mexico, Brazil, Argentina, and Colombia under a single contract, with direct connections to SPEI* and PIX, and the ability to settle locally or internationally in fiat or stablecoins—without prefunding. 

Visibility often breaks when each country issues different references and operates on different schedules, so your API should unify an operational single ledger: record inflows by method and country (SPEI*/PIX/PSE/CBU-CVU), outflows by beneficiary and status, and “dollars to pesos” conversions with effective cost (fees + spread). 

With this consolidated view, finance teams can close faster, audit better, and automate transaction matching instead of reconciling multiple bank statements by hand. This is the approach that aligns with a single integration and full reconciliation for LatAm.

Recommended 0–90 day implementation plan

Days 0–15 | Discovery & compliance. 

• Define target corridors (e.g., US→MX/BR/CO/AR) and KPIs: settlement time, immobilized capital, and per-transaction cost. 
• Complete KYC/AML and validate per-country permissions with your provider.

Days 16–45 | Technical integration.

• Connect the sandbox of your API for cross-border payments LATAM (pay-ins/payouts/FX). 
• Map reconciliation events and build operational reports.

Days 46–60 | Controlled pilot. 

• Run a USDC→MXN pilot via SPEI* for 1–2 internal cases (vendors or partial payroll).
• Measure effective spread and end-to-end timing.

Days 61–90 | Scale-up & governance. 

• Activate Mass payouts Latin America in batches; expand to PIX/PSE/CBU-CVU. 
• Operate 24/7 with monitoring and resilience playbooks (retries, alerts).
  
  

How to prove impact to your CFO

Anchor your evaluation to before/after metrics: capital released by reducing prefunding, end-to-end time (from T+1/T+2 down to minutes), cost per movement (fees + spread for the “dollars to pesos” pair), reconciliation match rate, and speed of market entry. At a business level, look for acceleration in volume—Bitso Business grew ~170% in transacted volume 1H24 vs. 1H23—and traction in institutional clients (1,700 with at least one operation). Numbers like these help justify migrating to modern infrastructure quickly and with financial evidence.

Cross-border payments in Latin America are being redefined by SPEI*/PIX, 24/7 liquidity, and an API for cross-border payments LATAM that integrates FX + payments + reconciliation. If you want to enter Mexico or Brazil without a local entity, reduce immobilized capital, and gain visibility, the next step is to run a “dollars to pesos” pilot and scale progressively to Brazil, Colombia, and Argentina with multi-country reconciliation and Mass payouts Latin America through a single integration. Contact us—at Bitso, we have the solution you need.

Frequently Asked Questions (FAQs)

1) Order book/API vs. OTC desk: which should I use?
Use the order book/API for mid-sized tickets, programmable execution (TWAP/VWAP), automation, and full auditability. Choose the OTC desk for large blocks where you need firm pricing (RFQ), tighter SLAs, lower market impact, and tailored settlement windows.

2) When should I use USDC-to-MXN liquidity?
When you need 24/7 funding, faster time-to-cash, and predictable execution—especially nights/weekends or when you want to minimize pre-funding. Fund in USDC, execute FX, then settle MXN via SPEI to beneficiaries for near-real-time availability.

3) Which metrics should I track to prove impact to Finance and the CFO?
Track effective FX vs. mid, time-to-cash, auto-reconciliation rate, rejects/returns %, operational cost per ticket, and working capital released (days and amount). Optionally add SLA adherence and error rate to round out the control and reliability story.

*NVIO México enables direct access to SPEI and delivers payment services fully compliant with Mexican regulation. NVIO Pagos México, S.A.P.I. de C.V., IFPE (“NVIO México”) is authorised and regulated by the Mexican National Banking and Securities Commission (CNBV). Learn more at nvio.mx/terms.