Pix Evolution and Implementation
FUTURE
SUMMARY
PRESENTATION
IDEALIZATION
EVOLUTION
NUMBERS
Pix. There is also room to study alternative manners of initiating payments,
for example, using proximity technology - NFC, RFID, Bluetooth, biometrics
and others. The use of new technologies making the payment experience
even faster can be especially beneficial in some specific use cases, such as, for
example, toll payments on highways, parking lots and public transport. Many
businesses that currently are not viable due to the lack of "connectivity" can
be made possible instantly, in a simple, safe and cost-effective manner.
There is also the possibility of establishing standardized rules that enable the
use of collateralized mechanisms linked to payment transactions, allowing
Pix to be used for future dated payments or in payment installments hence
mitigating the credit risk of merchants. Additionally, the BCB has been
monitoring the provision, by some private agents, of proprietary solutions
that make installment payments with Pix feasible. There is not a single model
being practiced. There are, for example, solutions that link a loan to a Pix
transaction and other solutions allow the payment of a Pix transaction on the
credit card bill. The BCB monitors the evolution of this market and the use of
these solutions, and may, in the future, if it deems necessary, decide to either
create a single product or to define minimum rules to be observed by the
participants offering this service.
Pix may also allow, in the future, integration with international instant payment
systems, enabling cross-border transactions between Brazil and other
countries, such as remittances, international trades and oversea payments
for purchases of goods and services. The BCB has been monitoring initiatives
around the world and Pix has already been developed to facilitate this type of
connection, adopting international communication standards.
Other products and functionalities will still be envisaged and developed.
according to the demands of society and the structural and technological
improvements to come. The fact is that innovations that have already been
experienced are paving the way for the digital transformation in means of
payment, no being possible a fallback.
In this context, the BCB, in the exercise of its mandate, in addition to the
important monitoring of the domestic retail market, must take advantage of
Brazil's insertion in the international context, assessing the need to internalize
the best international practices, which can be incorporated, in an adapted
manner, to the domestic reality.
Many new features will still be implemented. The revolution started in 2020
was just the beginning.
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