What is Pix? How Brazil moved to instant payments
By SendPay Business · · 2 min read
Pix is Brazil's instant payment system, created and run by the Central Bank of Brazil. Since its launch in November 2020 it has become one of the most common ways to pay in the country, for everything from splitting a bill to buying online.
How it works
- Register a Pix key with your bank: a tax number (CPF or CNPJ), phone number, email or a random key.
- To pay, enter the other person's key or scan a Pix QR code.
- The money arrives in seconds, 24 hours a day, every day of the year.
Why it spread so fast
Pix is free for individuals, works across all participating banks and apps, and is quicker than older options such as bank transfers or boletos. Many small businesses now take Pix instead of cards because it can cost them less.
What it means for businesses
Anyone selling to customers in Brazil should expect many of them to want to pay by Pix. The same pattern is showing up elsewhere, as fast account-to-account payments compete with cards.
Where SendPay fits
SendPay platforms include accounts, transfers and payment links under your own brand, powered by licensed partners. You can preview your platform before you pay.
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This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.