PIX-BRAZIL

Brazilian free P2P instant payment.

Definition

Pix uses Pix Keys (CPF, email, mobile, UUID) instead of classic transfer ; static/dynamic QR Code ; Pix Saque (cash withdrawal), Pix Troco (cash with purchase) ; Pix Automático (recurring) in 2024 pilot. ~70% Brazilian adults are users.

Origin

Launched by BCB 16 November 2020 ; mandatory for institutions over 500K customers.

Example in context

A Brazilian sends BRL 50 to a friend via Pix using a mobile number as Pix Key.

Related terms

• UPI — Indian twin.