Cesar Boralli

Apr 11, 2024 | cuinsight.com | Cesar Boralli |Lauren Culp |Suresh Balasubramanian |Scott Butterfield

Brazil’s instant payment system Pix has become a global success story in real-time scheme implementation. Launched in late 2020, it reached:42 billion Pix transactions in 2023 vs. 17.8 billion for credit cards and 16.3 billion for debit cards, according to the Brazilian Federation of Banks. That 42 billion represents a 72% increase over 2022. BRL 17.2 trillion (US$3.4 trillion) in transactions made on Pix in 2023 — versus BRL 3.4 trillion (US$677 billion) with cards.

Apr 10, 2024 | thefinancialbrand.com | Cesar Boralli

The Pix system, a joint government-industry project, features mandatory participation by major banking players. That's among suggestions for accelerating growth in FedNow's usage. FacebookTwitterLinkedInEmailPrintBrazil’s instant payment system Pix has become a global success story in real-time scheme implementation. Launched in late 2020, it reached:42 billion Pix transactions in 2023 vs. 17.8 billion for credit cards and 16.3 billion for debit cards, according to the Brazilian Federation of Banks.