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Pix, learn all about this new payment method

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Pix is an instant payment system developed by the Central Bank. Understand how it works and what it is used for

What is Pix ?

Pix, the new instant payment method created by the central banks, will join TED, DOC and cards as a new option for people and businesses to transfer value, pay or receive payments. Using Pix, individuals and businesses will be able to complete these transactions in less than 10 seconds, using only the mobile application.

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Who created Pix?

The new payment method was created by central banks. But it will be financial institutions that will deliver Pix to individuals and businesses: banks, payment means and fintechs. Just as TED and DOC are already present in the app as options when passing an amount, the new payment method will be present as another option in the same app.
What is Pix Banco Central

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Pix Banco Central is another way of calling Pix because it is a payment method created by the central bank.

How to join Pix?

The first step to joining Pix is to create a Pix key. For this, the person must use the service channel of the bank or financial institution where the account has been opened.

How does it work?

Pix is a feature that will appear in a mobile application for customers of banks, financial institutions, and other payment companies. When completing a transaction, making a payment, or sending money, simply select Pix as the transaction execution method in the app.

How to register

To register with Pix, you must first create a Pix key. The Pix key represents the address of your Pix account.

To create a Pix key, an individual or company needs to use one of four forms of identification: CPF/CNPJ, e-mail, cell phone number or random key.

A random key is a way to receive Pix without entering personal data. It will be similar to a login, a randomly generated set of numbers, letters, and symbols used to identify the destination account for the resource.

How to make transactions?

When making a transaction (such as making a payment or sending money), Pix will appear in the app as one of the options to complete the action, for example, along with TED or DOC. Simply select Pix and the action will be done by Pix.

Companies can also offer Pix as a payment method to customers via QR codes. When completing a transaction, simply select Pix in your app and capture a QR code image.

What are the advantages of Pix for the banking system?

According to the Central Bank, the main advantages of Pix are:

The service will be available 24 hours a day, including weekends.
The transaction will be completed in 10 seconds.
Pix is free for individuals, including MEI (Micro Personal Entrepreneur)

He is the editor of River C Sports. Previously, he was editor-in-chief at other news sites . Rodrigo Baião has spent most of his career as editor-in-chief of various websites and has more than 7 years of experience in the industry.

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