Pix, the instant payment system, has not only revolutionized how Brazilians conduct financial transactions but continues to expand rapidly. After hitting the impressive mark of 227 million transactions in a single day in September 2024, according to Central Bank data, the system has since progressed with new features expected to directly impact retail, credit, and access to digital services.
This year, two innovations began being rolled out: Automatic Pix, ideal for recurring payments like subscriptions and monthly fees; and Contactless Pix, which eliminates the need to open the banking app to make payments. Starting in September, Installment Pix will begin implementation, followed by Guaranteed Pix, expected in 2026/2027.
The new era of recurring payments
The Automatic Pix feature promises to be a practical and inclusive alternative, especially for consumers who don’t have credit cards. With it, monthly payments can be scheduled for services like gyms, pay-TV, streaming platforms, schools, and health plans, with automatic direct debits from the account.
For merchants, the feature is expected not only to expand their customer base but also reduce defaults, as payments will be debited directly from the customer’s account automatically and on schedule.
Installment payments without a card
Meanwhile, Installment Pix, one of the most anticipated features, will allow consumers to purchase on credit even without a credit card. The transaction will be based on a pre-approved bank limit, with the total amount transferred immediately to the merchant and payments split into installments with interest. In practice, it works as an alternative to traditional installment plans, with the advantage of occurring directly within the banking environment. For this feature to be available, merchants need to be integrated with an enabled payment platform like SaqPay, a digital payment solutions provider.
Pix in credit and digital inclusion
Fintechs and digital banks tend to quickly adopt these solutions, boosting retail sales and offering more accessible alternatives to consumers. Although credit cards still dominate, Pix is expected to gain ground with lower costs for merchants and greater convenience for users. The main challenge will be technological integration, but the sector is already prepared for this new phase of Pix’s consolidation in the financial ecosystem.
Challenges for internationalization
The expansion of Pix for international transactions still faces regulatory and technical obstacles. The first challenge is that each country needs to assess its payment policies to allow local financial institutions to adopt new technologies like Pix. Only after this can foreign banks access the APIs provided by the Central Bank of Brazil. Additionally, currency conversion issues need to be resolved, as it’s not yet defined whether transactions will be processed in reais with subsequent conversion or directly in local currency. Exchange standardization and system interoperability will be key factors in enabling international Pix.
New consumer behavior
With the arrival of features like recurring Pix, installment Pix, and contactless Pix, experts point to a significant shift in consumer behavior. Brazilians are quick to adopt practical solutions. With these updates, Pix strengthens as a comprehensive system that goes beyond transfers and establishes itself as a protagonist in the country’s financial ecosystem.
