If Pix had no difficulty in winning the favor of Brazilians, the adoption of this instant payment method should grow even more, as the new features planned by the Central Bank come into play. The next novelty, that comes into effect on February 28, it is the Pix by Proximity (or Pix by Biometry).
It allows the consumer to make payments by bringing a mobile phone with NFC technology close to the payment terminals, without the need to open the bank app. For that, it is enough that the pix key has been previously registered in a digital wallet. Already in online shopping, the payment completion will now be done in the virtual store environment, without having to access the financial institution's app. In both cases, the payment journey becomes much simpler and smoother
The resource had already been in operation since November in tests involving some banks and payment transaction initiators, as ITPs. With the official entry into force, although the inclusion of Pix by Proximity in bank apps and wallets will not become mandatory, players that do not provide convenience for their customers will fall behind the competition
But there wouldn't be any reasons for that, since the Pix by Proximity brings numerous benefits, be for consumers, merchants and companies. Bruno Loiola, co-founder of Pluggy, fintech that offers payment solutions and financial data for companies through Open Finance, highlights that the impact of the novelty is more visible in retail, but goes much further, potentially impacting even public transportation. See below some positive impacts of the new Pix feature
Greater agility in face-to-face transactionsIn physical retail, Pix by Proximity will reduce the time needed for payments, eliminating the need to scan QR Codes or type Pix keys. "Currently, there is a lot of friction at the moment of paying with Pix: the consumer needs to open their phone, access the bank app, insert credentials and locate the Pix area to complete the transaction. With the new feature, the payment will be made directly in the virtual wallets, bringing the cell phone closer. More and more people should adopt this method, improving the shopping experience, foresees Loiola
More conversion in online transactionsPayment by Pix is already common in the online environment. But now it gains functionalities, that allow increasing conversion and eliminating some intermediaries and risks of other payment methods such as card or boleto. Just like some e-commerce sites have the functionality to pay with one click using a credit card, will it be possible to do the same with Pix. When securely storing the Pix key in a virtual wallet or even within your favorite store, the consumer will be able to authorize an online transaction with the simple confirmation of their biometrics on the cell phone.
More security for consumers and businessesThe feature will provide more protection against fraud, because payments will only be authorized upon device authentication, through biometrics or password. Furthermore, with the reduction of the need for physical contact and the exposure of sensitive data, users will have greater peace of mind when making transactions
Another advantage in terms of security is that the consumer can see on their phone the amount to be debited, before approving the transaction. Already in the current contactless card payments, the value is shown only on the machines, that can also be subject to fraud.
Ease for companies in managing collectionsFor companies, especially in the retail and services sector, The Pix by Proximity will simplify financial reconciliation and reduce costs with other forms of payment, like card machines and bank slips. "Not to mention that", in the instant transaction, the receipt is immediate. This can result in a higher profit margin and less dependence on financial intermediaries, adds the executive from Pluggy
Expansion of the use of Pix in transportation and servicesThe new feature will allow public transportation methods, like bus and subway, adopt Pix in an even more practical way, as a direct alternative to electronic tickets and transport cards. Services such as tolls and parking will be able to be paid in a smoother and frictionless manner
