Pix: BRL 1.2 billion transfer is the biggest ever – 9/4/2023 – Market

A Pix of R$ 1.2 billion in December last year was the highest value transaction carried out through the Central Bank’s instant payment service between 2020 and 2022, according to data released by the monetary authority this Monday (4).

The information is contained in the report “Pix management – conception and first years of operation 2020-2022”, which brings an X-ray of the most used means of payment in Brazil.

This number, however, is an exception. Pix has mainly been used for lower value transfers. According to the document, R$ 257 is the average value of transactions between individuals. Considering all operations up to December 2022, almost 61% of them were less than BRL 100.

“In relation to the volume transacted, there was a nominal growth of 914% in 24 months, reaching R$ 1.2 trillion in December 2022”, says the document.

Since its launch in November 2020, Pix has continued to grow and, on August 4, it recorded a new record for operations: 142.4 million transactions in a single day. The system has also been undergoing a series of improvements to bring new features to the user.

In the evolutionary agenda, the BC is working on the development of the Automatic Pix, a modality that will work as an automatic debit with prior authorization from the payer. That is, Brazilians will be able to settle recurring expenses, such as water, electricity and telephone bills, without having to authenticate each transaction. The launch of the tool is scheduled for 2024.

As for security, police, public prosecutors and other criminal prosecution authorities can automatically consult, since September 1st, registration data, linked to Pix keys, of users under investigation.

With this mechanism, BC hopes to facilitate the identification and eventual accountability of users who used Pix to commit crimes and, thus, assist in combating and preventing fraud and cyber crimes.