Pix presents Pix Automático

Pix is the Brazilian instant payment scheme presented in 2020 by the Brazilian Central Bank (CBB). And today, the latter has chosen to enrich the functionality of its service by presenting Pix Automático. The objective is to facilitate the management of the expenses of its current users, win new customers and guarantee its dominance.

FACTS

• Pix Automático must allow users of the service to make recurring payments via Pix for various expenses such as:
  • tuition fees,
  • health insurance costs,
  • electricity bills or any other energy suppliers,
  • mobile phone packages,
  • streaming services,
  • ...

• The Brazilian central bank (CBB) made its new service operational on June 16. Since then, Pix customers can simply authorize payment of their invoices via Pix Automático so that their claims can be settled automatically by the due date.

• Authorizations may also be cancelled at any time by payers in order to ensure control of their expenditure. In order to ensure the security of the payers and their financial health, they can also set maximum amounts for each levy, thus preventing debits exceeding the preset amount.

• Pix Automático is also enriched with several practical features:
  • notifications to track its payments,
  • a tool for consulting the history of authorisations,
  • the possibility of using a credit line to finance certain specific recurrent expenditure where necessary,
  • a schedule of authorized payments.

• Pix Automático is a free service to payers. Companies receiving the funds via the service may be invoiced. The latter will first have to use an institution providing the payment initiation service and then be able to offer Pix Automático via an Open Finance infrastructure.

ISSUES

• Making service more practical : Payment automation is now presented by the Brazilian Central Bank as an additional argument to highlight the practicality of its payment offer.

PERSPECTIVE

• The Brazilian central bank (BCB) estimates that its Pix payment service currently has more than 160 million users.

• According to Beyond Borders 2025, the annual study of the EBANX payment platform, based on data from Payments and Commerce Market Intelligence (PCMI), Pix Automático is expected to generate more than $30 billion in revenues in Brazilian digital commerce in its first two years of operation. Recurring payments currently represent $50 billion per year in Brazil.

• The BCB is also planning to further enrich its payment service; It plans to launch Pix Parcelado, a split payment solution, by the end of 2025.

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