Data provided by C6 Bank/Ipec shows that 83% of Brazilians prefers transferring money via PIX than using traditional ways like DOC or TED. Also, it’s expected that more than 70% of Brazilian customers have already used PIX, and the number will grow in the following months. In addition, the research shows that this payment method is more popular between young adults and the resistance against PIX is higher with people over 55 years old.
PIX growth was faster than expected, released in October 2020, the system registered more than 21 million PIX Keys only one month after launch, and this year, in April, Brazil reached the eighth position at the World Ranking of countries with the highest volumes of instant transactions, due to a release from ACI Worldwide and GlobalData.
PIX is the new payment method released by the Brazilian Central Bank, you only need internet access and a bank account with a PIX Key registered. With this payment method you avoid taxes and gain time, the process only take a few second to be finished and the money is received almost immediately by the other person. With the COVID-19 Pandemic, PIX became popular quickly since it’s a contactless payment method, hindering the virus propagation due to direct contact with either cards or money.
For companies, it’s extremely necessary to provide as many payments methods as possible for the customers. You must go beyond and think about the user experience and how a payment solution can help your business reach another level. Here, at Pagsmile, we can help you with our experience at the financial market and our knowledge about the Brazilian audience.