The Brazilian Institute for Consumer Protection (Idec) considers the Central Bank's decision not to regulate credit operations linked to Pix, popularly known as "Pix Parcelado," unacceptable. The choice to abandon the creation of rules and allow each institution to operate "as it pleases" creates an environment of regulatory disorder that tends to amplify abuses, confuse consumers, and deepen over-indebtedness in the country.
Although the Central Bank decided to veto the use of the brand “Pix Parcelado”, allowing institutions to adopt variations such as “parcelas no Pix” or “crédito via Pix”, the change in nomenclature does not eliminate the central risk: the consumer will continue to be exposed to highly heterogeneous credit products, without any minimum standard of transparency, without mandatory safeguards and without predictability regarding interest rates, charges, provision of information or collection procedures.
By backing down from regulatory complexity, the Central Bank makes it clear that it has chosen not to confront a problem that is already underway. Instead of establishing rules to protect millions of Brazilians, it transfers the responsibility to the "free market," leaving families unprotected in a scenario where banks and fintechs have complete freedom to define conditions, formats, and costs, including the most abusive ones.
This choice is especially serious in a country where over-indebtedness has already reached alarming levels. The type of credit linked to Pix, precisely because it is present at the moment of payment and associated with the most trusted brand in the Brazilian financial system, creates unique risks: impulsive contracting, confusion between payment and credit, little or no understanding of charges and the consequences of non-payment. Without standards and oversight, the risk of financial traps grows exponentially.
Idec warns that Brazil is heading towards a scenario in which the same product will function in completely different ways at each bank, with its own rules, distinct contracts, varied forms of collection, and divergent levels of protection. This fragmentation compromises transparency, hinders comparison, prevents social control, and makes it almost impossible for the consumer to know, in fact, what they are contracting.
It is unacceptable that, when faced with an issue that directly affects millions of people, the regulatory body abdicates its responsibility. It is not enough to "monitor the development of solutions"; it is necessary to regulate them, oversee them, and guarantee minimum standards of financial security. To abandon this is to abandon the consumer.
Pix was created as a public policy to democratize payments. Transforming it into a gateway for unregulated credit, without addressing the risks and without protecting those who need it most, jeopardizes this achievement. Idec will continue to work to demand standardization, security, and transparency.
