One of the most popular payment methods in Brazil, Pix is now set to take over online commerce too, a study by fintech EBANX shows.
The president of the Central Bank of Brazil announced Pix protocols would be made available to other regulators.
Pix achieved the milestone of 3 billion monthly transactions in March, up from a previous record of 2.8 billion by the end of last year.
I have said many times that Latin America is the hottest region for fintech on the planet. The digital banks...
Instant payment system Pix has overtaken credit and debit cards as the most used means of payment in Brazil.
Fiserv's initiative in Argentina will make Pix available to Brazilians outside their home country for the first time.
The central bank of Brazil is gearing up to launch Pix Automatico, a form of direct debit through instant payment system Pix.
While Brazil's PIX has achieved great success, it is not alone. UPI has thrived in India, ushering millions into the digital economy.
As of May 2022, the PIX system had roughly 118 million users, 56% of Brazil's population.
The co-founder and head of Pix, Brazil's instant payment tool, talks about how the Central Bank was able to achieve a scale of around 130 million users in just two years.