🛠 Brazil🇧🇷: #PIX adds a “Dispute” button to banking apps starting October 1

🛠 Brazil🇧🇷: #PIX adds a “Dispute” button to banking apps starting October 1

The update is part of Brazil’s “Special Refund Mechanism” (MED), launched by the Central Bank to handle fraud-related cases. The dispute process is now fully digital, removing the need for any in-person procedures.
Reminder: the PIX instant payment system is integrated with nearly all local financial institutions and most alternative payment platforms. The key change is that all banks are now required to provide this dispute feature.

➡️ The new button allows users to instantly block a PIX transfer directly within their banking app — no need to contact customer support.

➡️ Once a dispute is submitted, the information is immediately forwarded to the recipient’s bank, and the funds in the suspected fraudster’s account are automatically frozen — either partially or entirely, depending on the case.

➡️ If either party believes the transaction was not fraudulent, they may initiate a case review procedure, which can take up to 7 days.

➡️ If fraud is confirmed, the refund must be completed within 11 calendar days from the response date, with funds credited back to the payer’s account.

➡️ Note: the dispute button cannot be used for commercial disagreements, buyer’s remorse, or errors made by the sender during a PIX transfer.

#news #Brazil #payments #fintech

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