Pix
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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.