Brazilian payment processing service PagBrasil has launched Boleto Express, an upgraded version of the payment method boleto bancário.

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The upgraded version will overcome the issues, such as delayed payment confirmations and the lack of a refund option.

PagBrasil guarantees confirmations for paid boletos until 10 am Brazilian time of the next working day.

Refunds can be processed via API or web portal and the funds are transferred same-day so that the buyer always receives the credit to his bank account within 24 hours.

Alex Hoffmann, co-founder and CEO of PagBrasil, said: "Our intention was to create the best solution for merchants and Brazilian buyers.

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"We believe that Boleto Express, in combination with enhanced functions such as defining the boleto expiration period individually for each boleto, is the best solution available on the market today."