Since November 2020 a new instant payment method was released by Central Bank of Brazil, Pix is a new way to make payments and transfer money. For you to understand what Pix is and how relevant is this payment system, we summarized some key points.
First of all, Pix is an instant payment method, which means that you will be able to transfer money between different institutions without the need of waiting a long time for processing the payment. With this method your payment will be available in real time, even if the transaction was made during the night, weekends or holidays. Pix is a 24/7 system.
To be able to use Pix, you must have a personal Key registered at your bank account, this key can be your personal document, cellphone number or even a random key in a QR code format. With this possibility you can make payments between e-wallets in real time. Without the need of an intermediate, pix is faster and secure, using the best technology available and taking the instant payments to the next level.
Many are the benefits of instant methods like Pix, but one of the most relevant is that you will be able to process real time payments without the need for acquirers, card schemes or issuers reducing, which will give to your customers another alternative to pay even if they do not have a traditional bank account. The system is also available for e-wallets and digital banks.
After the release date, in November 2020, Pix is getting bigger and showing relevant numbers. Up to January 2021, more than 130 million of Pix’s Keys were registered, almost 3 million are referent to company keys. A recent research also shows that 94% of the users approve Pix and 88% consider the system safe and revolutionary.
Having this in mind, is extremely important for company's that deal with Brazilian market getting informed about Pix and how this new system is taking payments to other level in Brazil.