The arrival of PIX was one of the breakthroughs in the digital financial market in 2020. In November, more than 60 million Brazilians registered their keys and are ready to make transfers through PIX. 

Many still do not know how the system works and what are its benefits. Therefore, we will explain below some of the main changes that PIX is already promoting. 

What is PIX? 

In simple words, PIX is an instant payment system that came into force in Brazil, in November 2020. The principal objective is to make transfers and electronic payments instantaneous, with availability on any day of the week, including weekends and holidays, making them uncomplicated and at a lower cost. Currently, the Central Bank controls the system, and individuals or companies can use it. 

PIX changes 

Registration to use PIX began on October 5, and the system officially launched on November 16. Since then, it has caused several changes in the financial market and in the way companies and consumers use banking services. Below are some of them. 

Over 40 million keys recorded 

From the arrival of PIX until December 3, 2020, the Central Bank recorded 99.7 million keys. The number of users of this new system is 40.4 million individuals, and 2.5 million companies have joined this new payment method. 

In all, more than 40 million transactions were made, which moved R$40.5 billion in a safe, fast, and easy way. These numbers reveal the high adherence to PIX, both by legal entities and individuals.  

The preferred payment method for 60% of internet users 

In less than a month of launch, PIX is already considered as the best payment and bank transfer method by 60% of Brazilian internet users, as established by a survey conducted by Ibope (the Brazilian Institute of Public Opinion and Statistics) for C6 Bank.  

Also, the study showed that the intention of using the new system for payments of consumption and service accounts is high. Check the numbers below: 

  • 56% of the participants in the survey stated that they intend to use PIX to utility bills; 
  • 45% state that they will use it in stores. 

PIX can be used to pay invoices and fees 

With the implementation of PIX, several companies started to accept the new system as a form of payment, such as Claro and TIM. Besides, Nubank also released the use of this tool for their Legal Entity account holders. 

On the other hand, Serpro authorized the payment of the Federal Tax Liability Payment Form (GRU) through PIX. It is worth remembering that this slip can be used for paying government fees, such as registration in Federal university entrance exams and the issuance of a passport. 

WePayOut has implemented the payment system as another payment method. Companies hiring WePayOut services can now carry out high volumes of payments to third parties, also on weekends and holidays, with integration via panel or API. 

In addition to the safety of this type of transaction, the participation of large companies also occurred because the processing of transfers takes only 10 seconds and is available 24 hours a day

Your company can benefit from all the features that PIX offers for payments to third parties, rendering your process even faster and more efficient. 

Learn a new dynamic of instant payments for your beneficiaries