Brazil launches instant payments platform Pix

Electronic payments

The Central Bank of Brazil launched its instant payments platform Pix on November 16.

The BCB says the new platform aims to foster competition in a highly concentrated financial system and to boost financial inclusion.

Pix allows peer-to-peer transfers in real time, transferring funds from the payer’s account to the payee’s without intermediaries. It also allows citizens to initiate and receive transfers through digital payment accounts at no cost. The system became immediately available to

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