Pix

Description:

Within the Brazilian instant payment (IP) ecosystem, Banco Central do Brasil (BCB) created Pix, the Brazilian IP scheme that enables its users — people, companies and governmental entities — to send or receive payment transfers in few seconds at any time, including non-business days. By transferring funds between transactional accounts — demand, savings and prepaid payment accounts — Pix is a payment method that tends to have a lower acceptance cost because its framework works with few intermediaries.

Country:

Brazil

Institution:

Brazil central bank (Banco Central do Brasil (BCB))

Category:

Digital Government


Focus:

E-ServiceRegulationRegulatory Sandbox

Technology:

FinTech

Links:

"https://www.bcb.gov.br/en/financialstability/pix_en https://www.globalgovernmentfintech.com/brazil-central-bank-launches-instant-payments-system-pix/"