Pix turns five years old this Sunday (16) amid growing usage in the country. More recent data from the Central Bank (BC) show that the system already collects 162 million Brazilians, exceeding the number of economically active residents (about 110 million).
In October alone, 7.3 billion transactions were carried out, which generated R$3.3 trillion, equivalent to about a third of Brazil’s GDP (gross domestic product).
However, the TED (Electronic Disposable Transfer) system remains the leader in terms of value transferred, reaching R$3.9 trillion in October. For many businesses, TED’s bank rate is cheaper than Pix — and it’s only free for individuals.
The daily growth is reflected in the forecast for the coming months. An analysis by Ebanx, based on public data from BC, estimates Pix will reach 7.9 billion transactions in December, driven by year-end purchases. If this pace is maintained, the volume handled by the platform could reach R$35.3 trillion in 2025, a 34% jump compared to the previous year.
The study highlights that no other instant payment system in the world has advanced so quickly. According to Ebanx, India’s UPI – which served as a reference for the Brazilian model – took nearly seven years to reach a level close to 8 billion transactions.
“We are all very happy. Pix has grown and developed well and is a source of great pride for the Central Bank and Brazilian society as a whole,” says Gabriel Gallipolo, President of the Central Bank.
How did PEX appear?
Although Pix was launched in 2020, its conception began earlier, in 2018, when the central bank created a working group including representatives from the financial market and academia to discuss instant payments.
“Pix was created to be a seamless payments experience and it succeeds in that mission,” says Denis Silva, CEO of Efí Bank. “People and businesses are making payments more easily and at a lower cost, and all of this is reflected in a less frictionless economy.”
For Fernanda Garibaldi, CEO of Zeta, PEX represents a moment of public innovation, by showing that the state is capable of creating effective and large-scale solutions.
The role of BC in the Pix architecture was also highlighted by Gustavo Lino, Executive Director of INIT (Association of Payment Transaction Initiators), who says that among the regulatory improvements needed for Pix to advance is the institutional strengthening of the Central Bank and the expansion of the body’s staff.
For Garibaldi, one of the challenges the system faces is precisely to further strengthen the regulator, ensuring the personnel and technical capacity to supervise economic agents. Since Pix is a public infrastructure on which companies develop innovations, I mentioned that it is necessary to maintain constant vigilance on behavior and practices.
protection
In recent months, the payments system has also returned to the center of discussion after raids that embezzled billions of riyals.
For example, a hacker attack in June this year led to the transfer of about R$813 million from accounts used by banks and payment institutions to manage Pix transfers. Such episodes reinforced concerns about the operational security of the system.
British Columbia says it has learned from the events and improved security measures. To prevent new incidents, the agency is creating new regulations for information technology service providers (PSTIs), which have served as a gateway for hackers
“The structures of the Central Bank and Bex Bank are working perfectly, and they are flexible,” says Ailton de Aquino, Director of Inspection at the Central Bank. “We are working hard with the supervision and monitoring teams. We are not standing still. We have taken – and will continue to take – many measures regarding incidents.”
Pixel effect
For Mauro Roquelin, Doctor of Economics and Professor at FGV (Fundação Getulio Vargas), the new payment method has reduced costs for almost all economic agents – especially by eliminating the fees that financial institutions previously charged for basic operations, such as transfers via TED or DOC, to individuals.
The digitalization process accelerated by Pix has also affected cash management. In 2020, for example, the Bank of Colombia issued the R$200 banknote. However, demand for the paper was lower than expected – only 12.7% of the units scheduled for that year changed hands. Rochlin points to Pix as one factor explaining this decline in demand for physical money.
Pix also reduces the cost of maintaining cash, both for the regulator and financial institutions.
What can Bex do today?
Traditional Pix is the most commonly used method for the system. It allows instant transfers between accounts, at any time and on any day of the week, including holidays. The process is free for individuals and can be performed using registered keys (such as CPF, email or cell phone number) or by reading a QR code.
Transactions can be made from a current account, savings account or prepaid account. Unlike traditional transfers, such as TED or DOC, it is not necessary to know which bank the recipient has an account with. Settlement takes place in real time, and both senders and receivers are notified when the transaction is complete.
Pix Suite is a billing tool through which customers can pay the company’s invoice with Pix using a QR code or Pix Copia e Cola, whether for instant payments at physical points of sale and e-commerce, or for payments due at a later date.
Using Pix Loot, consumers can withdraw cash from stores, lottery outlets or ATMs. With Pix Troco, it is possible to purchase a product or service and withdraw cash.
To make a PIX withdrawal or change PIX, simply read the QR code and make the transfer. Signing up for the tool is optional, meaning the merchant can choose to offer the service or not.
The customer can also withdraw money from ATMs at any bank that offers the BIX withdrawal service, not just at the institution where he has an account.
Recurring scheduled pix is used for recurring transfers with a fixed amount. It can be used, for example, to send money monthly to family members, or to pay allowances or for recurring services, such as gardening and cleaning, provided directly to the consumer.
Pix by contact is a method that allows you to make payments without having to open the banking app. The tool was launched by BC in February this year. With this feature, customers do not need to read the device’s QR code or request the recipient’s key.
To complete the payment process, all you have to do is bring your cell phone or digital watch close to the payment device.
Auto Pix is a feature aimed at recurring payments (such as bills, subscriptions, and monthly fees). The amount is automatically deducted from the payer’s account on the agreed date, without the need to take action with each collection.
This function was launched in June of this year and, according to BC, is supposed to expand access to recurring payments to about 60 million Brazilians who do not currently have a credit card.
There, the customer can set rules, such as the maximum amount for each debt, and cancel the appointment up to 11:59pm the day before, if they do not agree to the amount charged.
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PIX by voice command, message and picture
Some financial institutions already allow consumers to make transfers via voice commands, text messages, or sending photos with written transaction information. The functionality is generally available via WhatsApp or in the bank app chat.
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Pay bills with PIX
Since February, a BC ruling has allowed bills to be paid through Pix. The process can be performed by reading the QR code included in the document itself and makes the process faster and more practical for the consumer.
What are the future features of PIX?
Many banks already offer this Pix function, but BC has not yet regulated it, in order to standardize the credit product through which a paying user can split a Pix transaction at a given interest rate.
According to the central bank, this method has the potential to encourage the use of BEX in retail trade to purchase higher value goods and services, favoring those who do not have access to this type of operation. It can be used for any type of Pix transaction, including transfers.
“This can serve as alternative access to more expensive lines of credit, but we also want to make sure it works properly,” says Galipolo.
It allows future Pix receivables to be used as collateral in credit operations. The goal is to make credit cheaper for businesses, especially those whose use of Pix is more important.
The solution is intended only for institutions and commercial companies and will not make any changes to the way individuals use Bix. The tool is still under development by BC and is expected to only be available in 2026.
International Pix is not yet included in the official launch calendar. However, some countries already accept payment through the system.
To receive payments via BEX abroad, the merchant or service provider must have an active account in Brazil and register a key. The practice has already become common in countries such as Portugal and Argentina, especially among Brazilians living or traveling abroad.
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