Global

Automatic Pix: New Product Set to Allow for Recurring Instant Payments in Brazil

Mattos Filho

"...The BCB has indicated that this new Pix product will facilitate the recurring billing of products and services that companies of various sizes and sectors offer. The new rules take effect on October 1, 2024, and market players will be required to make the new feature available by October 28. Participants who fail to comply will be subject to a daily fine (ranging from BRL 25,000 to BRL 50,000), capped at 60 days."

Tags: Brazil

Companies Global

Brazil’s BV Bank Testing Car Sales as Part of DREX CBDC Pilot

Ledger Insights

Brazil’s BV Bank is involved in one of 16 pilots for Brazil’s wholesale central bank digital currency (CBDC), DREX. It recently shared details about its use case to enable delivery versus payment settlement when buying a car.

Tags: Brazil

Global

Brazil’s Pix Payments Are Killing Cash. Are Credit Cards Next?

Yahoo Finance

"In just three years, Brazil's hugely popular Pix payment system has become the country's favorite way to pay, replacing cash and wire transfers in many cases and now threatening the dominance of credit cards in the booming e-commerce sector."

Tags: Brazil

Global

Matera's "Pix by the Numbers" Report Reveals Surge in 2023 as Businesses Shift Away from Credit Cards

Business Wire

"Matera released its year-end report on the adoption of Brazil’s highly successful Pix instant payments scheme."

Tags: Brazil

Global

Banco Central Do Brasil Takes Another Step Towards Implementing Pix Automático (Automatic Pix)

BCB

"Banco Central do Brasil has released operational guidelines for the Pix Automático product. Pix Automático will be available to the population in October 2024."

Tags: Brazil

Global

Central Bank Announces New Method for Pix in 2024 [Brazil]

Mediarun Search

"It remained one of the most used payment methods by Brazilians in 2023. In this new year, the Central Bank (BC) is considering launching a service Auto pixel."

Tags: Brazil

Global

Pix Achieves Remarkable Figures in Just Three Years

BCB

"Pix has played a pivotal role in including 71.5 million users into the financial system... October 6th marked a historic milestone with the highest number of transactions in a 24-hour period: 163 million."

Tags: Brazil

Global

Brazil's Pix Revolutionizes Digital Payments Landscape and Inspires LatAm Growth

PR Newswire

"Inspired by India, Pix Just Celebrated 3 Years With Record-Breaking Success, Leading Latin America's Instant Payments Boom"

Tags: Brazil

Global

Brazil’s PIX a Threat to Credit Cards, but a Boon for Banks

The Banker

"The market for credit cards and debit cards is going to get smaller in Brazil, as PIX, the country’s instant payment system, expands its reach and features."

Tags: Brazil

Companies Global

N26 to Cease Operations in Brazil

N26

"European digital bank N26 announced the decision to discontinue its test phase in Brazil and wind down its operations in the market."

Tags: Brazil N26

Global

BS2 Launches Solution That Allows International Payments and Receipts in Real-Time at a More Attractive Cost

PR Newswire

"BS2, the first Brazilian digital bank (banco digital brasileiro) specialized in companies, launches a unique solution that allows companies and people to have access to international payments and receipts in real time from Brazil to abroad and vice versa, BS2 Easy Pay."

Tags: Brazil

Global

Pix Will Likely Replace Credit Cards In Brazil

Business Wire

"Matera, maker of world-class instant payments, QR code and digital ledger technology, today released its Q3 report on the adoption of Brazil’s highly successful Pix instant payments scheme."

Tags: Brazil

Companies Global

Fiserv : Acquires Skytef and Broadens Network of Strategic Partners in Brazil to More than 1,000

MarketScreener

"Fiserv Acquires Skytef and Broadens Network of Strategic Partners in Brazil to More than 1,000."

Tags: Brazil

Global

Pix Achieves 100% Acceptance in Large Online Stores [Brazil]

Valor Investe

"About to turn three years old, Pix has reached 100% acceptance in the largest online stores in the country. This is what the most recent edition of the Gmattos Payments Study shows, in advance of Valor . With this, the instant payment instrument ties with the credit card, until now the absolute leader in availability in e-commerce."

Tags: Brazil

Global

Brazil’s Central Bank Tightens Rules in Response to the Cryptocurrency Surge

Crypto TV Plus

"According to the governor of Banco Central do Brasil, Brazil’s central bank,  Governor Roberto Campos Neto, a significant surge in crypto adoption in the country was sighted by the bank and the bank intends to respond to the situation by tightening the digital assets regulation."

Tags: Brazil

Global

Brazil Counts Success with Pix Payments Tool

FT

...Pix is now the most common form of payment in the region’s largest economy by number of transactions, accounting for 29 per cent of transfers in 2022, according to central bank data on non-cash methods.

Tags: Brazil

Global

Use of Pix [Brazil] in Purchasing Goods and Services More Than Doubles in 2023

Valor Investe

"According to a survey by Itaú Unibanco, the market segment stands out, with 17% of transactions; payment of water and telephone bills has made strong progress. The instant payment method is most used in the food segment , which corresponds to purchases in markets, with 17% of total transactions carried out in the period."

Tags: Brazil

Global

Privacy, Market Maturity Hurdles Facing Brazil's CBDC [DREX] Rollout

Reuters

"Maintaining privacy and increasing understanding of blockchain technology are primary issues to solve before Brazil's central bank digital currency (CBDC) is ready for widespread use, the central bank's coordinator of the project said on Tuesday. Named DREX, the digital real is set for a first phase launch aimed at financial institutions in May 2024, though postponed from an initial planned launch in February."

Tags: Brazil

Global

Matera Brings AI to Instant Payments, Acquires Brazilian AI Leader Cinnecta

Business Wire

Matera, maker of world-class instant payments, QR code and digital ledger technology, today announced its strategic acquisition of Cinnecta, a leading-edge AI company renowned for its solutions in customer retention, loyalty and enhancing digital experiences.

Tags: Brazil

Global

SETL Joins Groundbreaking Digital Real Pilot Project in Brazil

EIN News

"Blockchain technology leader SETL, a notable member of the Colendi Group, proudly announces its selection for participation in the landmark Digital Real Pilot project, spearheaded by the Central Bank of Brazil."

Tags: Brazil

Global

Brazil c.Bank to Unveil Plan to Eliminate Revolving Credit Card in 90 Days

MarketScreener

"Brazil's central bank governor Roberto Campos Neto on Thursday announced plans to unveil within the next 90 days a solution aimed at tackling high rates charged on revolving credit card lines, seeking to effectively end this credit modality."

Tags: Brazil

Global

Brazil's Central Bank Launches Digital Currency Plan

MercoPress

"Brazil's Central Bank (BCB) Monday announced a new digital currency for South America''s largest country, which will be called “Drex” and is not expected to reach account holders before late 2024, Agencia Brasil reported."

Tags: Brazil

Global

International Companies Begin Preparations for Pix Recurring Payments Introduction in Brazil

The Fintech Times

"As Pix gears up to introduce a new recurring payments service that enables consumers across Brazil to pay for products and services like subscriptions, bills and gym memberships, international companies are also beginning to ready themselves for increased market competitiveness."

Tags: Brazil

Global

Lessons Learned From Brazil's PIX for US FedNow Program [Video]

Bank Info Security

"Brazil's instant payment system, PIX, is second only to India's UPI in number of transactions. As the United States prepares for the launch of FedNow, Carlos Kazuo Missao, head of innovation in the Americas at GFT, shares his experience with PIX and some important lessons U.S. banks can learn from Brazil."

Tags: Brazil

Global

Tap to Pay on iPhone Coming Soon to Brazil Following UK Launch

9to5Mac

"Apple announced on Thursday that Tap to Pay on iPhone is now available to users in the UK. For those unfamiliar, the feature turns the iPhone into a payment terminal, so vendors can use their phone to accept contactless payments. Now it seems that Tap to Pay is coming soon to Brazil as well."

Tags: Brazil UK

Global

Pix in Argentina! Brazilians Will Be Able to Use This Payment Method Soon

Melhores Destinos

"A company specializing in payments is taking the Brazilian Pix to Argentina! With this, it will be possible for tourists who travel from Brazil to the neighboring country to use the tool when paying for their purchases."

Tags: Argentina Brazil

Global

'Super App' is Being Implemented, says BC President

Finsiders

"The Central Bank (BC) is designing a 'super app' to bring together, in an integrated manner, all financial products and services. The project is in the “initial phase of implementation”, revealed Roberto Campos Neto, president of the organ, in an event promoted yesterday (12) by the Institute for the Development of Retail (IDV) ."

Tags: Brazil

Global

Brazil’s President Signs Law Aimed at Having Central Bank Regulate Crypto Firms

Cointelegraph

"The decree authorizes the central bank to regulate and supervise virtual asset service providers, and ensures the country's securities regulator will continue to handle many tokens."

Tags: Brazil

Global

Inswitch and Banco Rendimento Join Forces to Enable Brazilians Worldwide to Make Payments with PIX

PR Newswire

"Inswitch, a global leader in embedded finance technology, in collaboration with Banco Rendimento, one of the most dynamic banks in Brazil, have come together to launch a major offering of payment methods, allowing Brazilians traveling abroad to use the PIX system for purchases and payments as if they were in Brazil, throughout Latin America."

Tags: Brazil

Companies Global

Spotify Brazil Expands Payment Methods With PIX

Spotify

"Today, we’re adding PIX, the most used payment method in Brazil, as a payment method for Spotify Premium . Getting access to on-demand ad-free offline music streaming in Brazil has never been so easy. Now, users can pay once and recharge whenever they want—without automatic renewal."

Tags: Brazil Spotify