🎉Brazil🇧🇷: The long-awaited Pix Automático has been launched

🎉Brazil🇧🇷: The long-awaited Pix Automático has been launched

Thanks to this new feature of Brazil’s instant payment system, recurring payments are no longer limited to credit card holders. Now, 60 million Brazilians who don’t use credit cards will also have access to this benefit.

➡️Pix Automático is available for both individuals and businesses, including service providers. To join the platform, companies must meet a series of requirements, such as:

🔴providing business registration details

🔴confirming that their line of business is compatible with the service

🔴demonstrating an existing customer relationship history. Additionally, businesses must have been operational for at least six months.

➡️Recurring payments are configured through Open Finance and debited directly from the user's bank account.

➡️The feature is integrated into the app, and the user can revoke consent for its use at any time.

➡️Context: In Brazil, recurring payments currently amount to 50 billion USD per year. Fintech EBANX analysts estimate that in the first two years, Pix Automático will unlock about 30 billion USD in Brazilian digital commerce, with a special focus on new users.

#news #Brazil #Pix

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