Recent data from the Central Bank show that in the first half of 2024, the Pix payment method had more than 28 billion transactions, equivalent to more than R$ 11 trillion transacted. Such figures reinforce how essential the platform has become in the country, making life easier for users who do not pay more fees to transfer money & for merchants, who have lower charges than card machines, for example.
Nathan Marion, general manager of Yuno, global payment orchestrator, points out that the reason for such success of the platform goes beyond the economy with bank fees.“O Pix is a very practical method, which allows you to make a transaction with a few clicks directly from the mobile phone. The money falls into the account of the favored instantly, without the need to wait several business days as in other modalities.For these reasons, its use is encouraged by merchants, who grant special prices to those who opt for the” method, he points out.
So much so that a recent survey by Cielo showed that, in e-commerce, Pix has already hit the credit card as the favorite method of users, being the most used by about 67% of people. “The same study shows that while 92% of retailers see an increase in the use of Pix, cash has been losing traction, with 80% of merchants saying that its use has fallen quite”, points Nathan Marion.
For the executive, the trend is that Pix is increasingly strong in the country, which has been one of the global leaders in the use of A2A methods (account-to-account, or account, in Portuguese translation).“In addition to these data from the Central Bank and Cielo, the study The Global Payment Report, by Worldpay, showed that the modality has the capacity to reach half of the value transacted in the POSs in Brazil by 2027”, he explains.
Exemplifying the reason for this propensity, Marion talks about new Pix modalities, which is willing to dominate also the market for installment purchases. “In addition to the standard transfer, which is already a success, there is the Guaranteed Pix, which can grab part of the market today dominated by the credit card, since a study by Serasa Experian points out that 71% of consumers usually parcele their purchases whenever possible. This new service, in addition to advantageous for those who have no credit limit in the bank, can still avoid spending on” annuities.
The market for recurring purchases, such as subscription and streaming services, can also be encompassed by Pix. This is because it is planned, by the end of this year, the launch of the Automatic Pix, a modality that allows the scheduling of various accounts through the platform.“Data from a Fiserv study already show us that Generation Z is willing to abandon the credit card in payments of bills such as light and water (32%), or else in recurring transactions of subscriptions (19%). The Automatic Pix can reach these people, moving the economy in different” sectors, as more school services will be paid by gas, as the parcel, as well as the platform, as monthly payments and also by the monthly payments by Natura.
Thus, the tool also helps more people to be part of the national financial system, because the ease of use and its versatility include even those individuals with little familiarity with banking services. “According to the Central Bank, Pix contributed to the financial inclusion of more than 71 million Brazilians, with the states with fewer physical bank branches being the ones that most use the” platform, explains the executive.
With about three years of existence, Pix recently reached its record of operations, reaching 224 million transactions in a single day. In 2023, it was the most popular payment method in Brazil, with almost 43 billion operations, a growth of 75% compared to the previous year, according to data from the Brazilian Federation of Banks (Febraban). “With such penetration in the Brazilian market and ease in its use, we can say that these numbers tend to increase more and more, making Pix as the favorite option of the Brazilian in any” transaction, concludes Marion.
