Pix Evolution and Implementation
SUMMARY
PRESENTATION
IDEALIZATION
EVOLUTION
NUMBERS
FUTURE
40
P2B
194
Chart 3.1.8 - Average value of transactions
By nature of transaction
Chart 3.1.9 Number of transactions
By initiation method
50
P2P
257
150
B2P
862
Govt
192
B2B
Source: BCB
975
1,489
5,682
1,000
2,000
3,000
R$
4,000
5,000
6,000
Median Mean
3.0
R$ billions
0.6
Chart 3.1.11 - Pix transfers initiaded through payment initiation services
Financial value and number os transactions
R$ (millions)
30
2.4
25
20
1.8
15
1.2
10
50
# of transactions
(thousands)
140
126
120
104
102
100
80
60
dec-2021
0
0
0.2
jan-2022
feb-2022
mar-2022
Financial amount
apr-2022
may-2022
jun-2022
jul-2022
Number of transactions (right axis)
aug-2022
sep-2022
21
18
12
10
12
7
6
0%
1
0.3 0.7
48
48
57
494
44
44
82
59
64
oct-2022
nov-2022
dec-2022
21
27
26
60
40
0.0
Source: BCB
nov jan
mar may
jul
2020 2021
sep nov jan
2022
mar may jul sep nov
■ Alias
Source: BCB
Manual entry
■QR code dynamic
■QR code - static ■Initiation service
Pix has five different options to initiate transactions: manual entry of the
payee's data 19, Pix alias, static or dynamic QR Code 20 and the payment initiation
service. A Pix alias is more convenient than the manual entry, as it allows to
carrying out transactions using only information from the payee. Considering
only December 2022, around 65% of all Pix transactions were carried out
through alias initiation (Chart 3.1.10). During this same period, it can be noted
that 15% of transactions were initiated by manual entry. This is mainly due
to the way that some participants implemented the functionality of saving
payees' data for future transfers in their systems (e.g. favorite contacts).
Thus, when selecting the payee among transactions already settled, the
participant's system brings information from the payee's account instead
of the corresponding payee's alias, hence generating a Pix transfer through
manual entry. Transactions initiated by static or dynamic QR Code, typically
related to trade, services or billing operations, have gained more relevance
given the growing adherence to Pix by legal entities, representing 21% of total
transactions settled in that same month, with an increase of 17 p.p. compared
to November 2020, the Pix launching month (charts 3.1.9 and 3.1.10).
Chart 3.1.10- Share of transactions
By initiation method
100%
80%
20
Government entities have increasingly adopted the use of Pix, but there is
still plenty of room for expansion. The quantity and volume of transactions
involving municipal, state and federal government entities has been growing
significantly every month, reaching 8.6 million transactions, which represents
R$5.7 billion transferred in December 2022 (Chart 3.2.12). From November
2020 to December 2022, 18,200 government entities, from different spheres
of government, used Pix for payments and/or receiving payments.
60%
Chart 3.1.12 - Number of transactions and financial value
Public entities
40%
20%
Thousands
7,000
0%
5,600
nov jan
2020 2021
mar may jul sep nov jan
mar
may jul sep nov
2022
4,200
Alias Manual entry ■QR code dynamic
QR code static ■Initiation service
Source: BCB
2,800
19 Manual initiation is that in which the payer must enter all the data of the recipient (Tax ID, payment service provider identification, branch number,
account number and account type), as with TED and DOC.
20 The difference between Static QR Code and Dynamic QR Code is that the latter has the ability to store a larger amount of information. In general, the
dynamic QR Code is the one that is generated electronically for each transaction, while the static QR Code is the one that is printed and can be used
for several transactions.
Another way to initiate a Pix transaction is through the payment initiation
service, a functionality introduced in October 2021 (see Section 2.4). November
2022 was the month with the highest number of transactions with payment
initiators, having registered 126,000 transactions totaling R$27 million (Chart
3.1.11). It is expected that this Pix initiation mode will gain relevance as users
become more familiar with the concepts and rules of Open Finance and with
the convenience of transactions through the Pix payment initiation service.
1,400
0
nov jan
mar
2020 2021
Source: BCB
53
128
577
827
1.6
1.3
0.9
1.0
0.5
0.7
1,279
1,414
2,510 N
2.8
2,782
4,781
R$ Billion
8.6 9.0
7.2
5.2
4.9
5.4
4.7
3,913
may
jul
sep nov jan mar may jul
Number of transactions
2022
Financial amount (right axis)
4,916
5,756
3.6
1.8
0.0
sep
dec
20View entire presentation