25 May 2021
10 June 2021
Pix - Instant Payment in Brazil
In November 2020, the Central Bank of Brazil launched Pix, the Brazilian instant payment solution. Pix is the easiest, fastest and cheapest way to transfer money locally to other people and businesses. The best: you do not even need to memorize or write someone´s branch and account number. You can just type the receiver´s email, telephone or CPF (TaxId) and the system recognizes the beneficiary of the transfer. Simple, right?
In practice, you are able to use Pix with your bank´s or payment service provider´s app. Generally, it is quite intuitive. There will be an icon or option for Pix. Then, just choose the alias type (CPF, Tel Number or email) and type the details and amount. That simple! After the transfer is made, both the payer and payee receives a receipt.
Slowly, small business and adhering to Pix. Some business are already accepting payments with a QR code. In this case, you just need to scan the QR code with your app and your mobile phone will show you the details of the payment / transfer.
For more details about Pix, visit the Central Bank of Brazil´s website.