He Central Bank of Brazil is negotiating with the Central Bank of Uruguay (BCU) to carry out the internationalization of your instant payment system, pixelswhich the BCU plans to implement before June of this year.
The president of the Central Bank of Brazil, Roberto Campos Netostated that the monetary authority is negotiating with countries in the region, including Uruguay, to implement the iInternationalization of the Pix instant payment system automatic. According to Campos Neto, automatic Pix would work in a similar way to debiting an account and as a new alternative for recurring payments, reported Valor Económico.
In early February, the Central Bank of Uruguay (BCU) communicated that it was doing all possible actions to launch the project of bank transfers every day of the year and at all hours before the end of this semester. The BCU is between the dilemma of two systems, one created in India and the other is the Brazilian, with which they have been negotiating for longer.
At the end of November, the Central Bank of Uruguay presented the Payment System Roadmap with the lines of action from 2023 to 2025, with special emphasis on modernizing the payment system until bank transfers can be made 365 days a year, 24 hours a day.
In January of this year, the BCU Directory instructed Urutec – the administrator of the Automated Clearing House – to take all necessary actions to be able to carry out the transfer project 24/7 before the end of this semester, that is, before July 1st.
How does pix work?
Pix, with barely two years in the market, positioned itself as the money transfer system most popular in Brazil. It works through a highly secure app for which only an email account or cell phone number is necessary.
To use it, users only have to register a key generated from the tax identification number or mobile phone number. Operational simplicity has been key to achieving one of the objectives of this system: the entry into the formal financial system of thousands of people.
Until July of this year, Brazil had 478 million Pix keys active and financial transactions made through the platform have already exceeded those made with credit and debit cards, Bloomberg Línea reported. Its level of market penetration is such that users even use it to pay tips in bars.
The number of transactions reached 4,200 million in the first quarter of the year, 22.9% of the total, against 3,700 and 3,500 million for credit card (19.27%) and debit card (19.8%) payments, respectively .
Source: Ambito
