PIX grows in 2022 and becomes the main market instrument, with 29% of transactions, says BC

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Tool surpassed credit, debit and billet cards in the annual number of operations, according to the Central Bank. The payment method began operating in the country at the end of 2020. The PIX, an instant payment system, gained market share in payment instruments and reached 29% of all transactions registered in 2022, against 16% of the total in 2021. information was disclosed by the Central Bank this Wednesday (31). This payment modality began at the end of 2020, amid the most acute phase of the Covid-19 pandemic. The main objective of the system was to increase the digitization of financial transactions in Brazil. Use of the PIX grows in 2022 Reproduction of a study by the Central Bank “From the end of 2020, the significant growth in the use of the PIX reduced, in relative terms, the participation of other means of payment and transfer in the total number of financial transactions” , informed the Central Bank. According to the institution, the evolution of the number of transactions through the PIX demonstrates that this instrument played an important role in the significant increase in the number of transactions in the payment ecosystem as a whole, allowing the participation of people who had never made transfers before. “In just two years of operation, between November 2020 and December 2022, Pix became the instrument with the highest annual number of transactions”, added the BC. The institution reported that a significant increase in the number of transactions with debit and prepaid cards was also observed, and, in prepaid cards, this is part of the growth of payment institutions. “These institutions have played an important role in financial inclusion, by providing payment accounts to people who previously had no relationship with the financial system, being, for example, the institutions where many young people begin their relationship with the financial system”, he informed the BC. At the same time, still according to the Central Bank, the quantity and financial volume of withdrawals at ATMs and bank branches have been gradually reducing over time. “From 2020 onwards, this reduction in use seems to be more pronounced, which can be explained by the behavioral changes of the pandemic, the introduction of the PIX and the increase in card transactions”, he concluded.

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