Instant Payment Systems
What is Pix? Brazil's Instant Payment System
Pix is the instant payment system run by the Central Bank of Brazil, launched in November 2020, processing over 300 million daily transactions.
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Pix is the instant payment system operated by Banco Central do Brasil (BCB), launched on November 16, 2020. It enables bank-to-bank transfers in under 10 seconds, 24/7/365, at zero marginal cost for retail users.
By 2026 Pix exceeds 300 million daily transactions and is used by more than 160 million Brazilians, making it the world's largest instant payment system by transaction count. Adoption was driven by a regulatory mandate for banks with over 500,000 accounts and native integration via Pix keys (CPF, email, phone, or random alias).
Pix Automático, launched in June 2025, added authorized recurring direct debits similar to SEPA Direct Debit. Pix Internacional, piloted with the BIS Project Nexus initiative, targets interoperability with India's UPI and other Global South rails.
Pix's success has become the reference model for instant payment infrastructure in emerging markets and a key data point in CBDC and fast payment design globally.
Key facts
- •Launched November 16, 2020 by Banco Central do Brasil
- •Over 300 million daily transactions in 2026
- •More than 160 million active users
- •Settlement in under 10 seconds, 24/7/365
- •Pix Automático (recurring debits) launched June 2025
- •Cross-border interoperability piloted via BIS Project Nexus
- •Free for individuals, regulated fees for merchants
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