In a recent statement, Central Bank President Roberto Campos Neto announced final adjustments to enable contactless payments via Pix on smartphones.
This new feature promises to increase the popularity of this instant payment system in Brazil, where Pix already has impressive adoption numbers.
Even then, the limitations of not being able to make contactless payments were seen as an obstacle for some users, who still preferred a traditional credit card for quick transactions at merchant establishments. However, this barrier is about to collapse, ushering in a new era of comfort and security.
During Valor's Emerging Tech Summit, Campos Neto explained that the new functionality will work through integration with digital wallets such as Google Pay and Apple Pay.
This will allow users to make payments simply by bringing their mobile phones to the payment terminals, without having to insert cards or even enter passwords.
How is BEX transforming the Brazilian financial system?
Since its launch in November 2020, Pix has been a major enabler of financial inclusion in Brazil. The ease and speed of transactions were critical factors for its widespread acceptance, both among individuals and legal entities.
Currently, there are two transactions per day for every person with a bank account in the country at an impressive rate.
What are the features of Pix for users?
- Speed: Transactions are processed in a few seconds.
- Availability: The service is available 24 hours a day, every day of the week;
- Lower cost: In most cases, Pix is free for individuals;
- Flexibility: Ability to send and receive funds from any participating financial institution.
- Security: Pix has been rigorously evaluated by the central bank and has a high level of security.
According to Campos Neto, the Central Bank is also exploring other innovations, such as Pix Agendado and Pix Automático, which will allow regular payment for services such as Spotify and Netflix in a more automated and efficient way.
See also:
Nubank begins integration with Celular Seguro software to increase user security
The current Pix panorama shows more than 740 million active keys and a daily volume of 201.6 million transactions. The continuous development in the number of transactions indicates that the first instant payment method developed by the central bank is far from reaching its full potential.
Image: Gustafomelosa / Shutterstock.com
“Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist.”
