Check out the trends that became stronger with the arrival of PIX

The arrival of the new instant payment system in Brazil called PIX promises to make life easier for many Brazilians and foreign paying in and to Brazil. With PIX, it is possible to send and make payments quickly and conveniently. This system has also contributed to the strengthening of several financial trends and may even reduce the use of some traditional banking services  

Check below which trends will become even stronger with PIX and learn more about this novelty. Here they are! 

The increase of popularization of digital transactions 

The increase of popularization of digital transactions is an expected trend with the arrival of PIX. After all, both systems complement each other, and contribute to the fast circulation of values through the web, with instant payments. 

The estimate is that the entry of this new system will boost the adoption of digital transactions even more. But for this to happen, organizations must offer advantages and user-friendly service. 

Therefore, both PIX and digital transactions will be adopted more quickly by users. The Central Bank aims to encourage companies to accept and offer solutions for this new demand.

The decrease in the use of traditional money transfer methods 

The decrease in using traditional money transfer methods is also foreseen with the use of PIX in Brazil. These transactions are like the recently introduced model, but with low costs and conveniences like the possibility of making transactions whenever desired. For the transfers of funds, PIX users will not need data like: 

  • Bank number; 
  • Branch number; 
  • Personal/corporate account. 

Payment of slips with PIX 

Another trend that becomes stronger with the arrival of PIX is the possibility of paying bar coded invoices (boletos) and other products through this system. As a matter of fact, the Central Bank has called companies to participate in the debates about this possibility and discuss resources such as: 

  • PIX Payer; 
  • PIX Installment Plan; 
  • PIX withdrawal; 
  • Contactless payment; 
  • Payment with document; 
  • Transfer between means of international payments. 

It is estimated that other resources will be included in PIX by 2023, such as payment requests and the possibility of scheduling a payment through the system. On the agenda are automatic debits and the settlement of recurring expenses such as cable TV and electricity bills. 

Digital wallets with the arrival of PIX 

With the implementation of the PIX system, there is another possibility on the use of e-wallets making it even more interesting to move funds instantly to other wallets and banks. In such cases, company beneficiaries would not need to have a bank account to receive their payments. An advantage for online stores, which can integrate an e-wallet to their check-out for receiving payments through PIX. 

WePayOut is about to make this real. If you are interested in one of the possibilities mentioned above, either to easily handle bulk payments to your beneficiaries or to integrate PIX to your e-commerce check-out via API, sign up and do not miss out on any of our updates.

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