What is the PIX payment system?

PIX is a new payment system developed by the Central Bank of Brazil that allows for instant payments between individuals and companies. It enables users to make real-time transfers 24/7, including weekends and holidays, without the need for intermediaries such as banks or payment processors. With PIX, users can transfer money using only a mobile app or digital wallet, and receive funds instantly. It aims to increase financial inclusion and improve the efficiency of transactions in Brazil. PIX is set to revolutionize the payments industry in Brazil as it offers a faster and simpler alternative to traditional bank transfers and card payments.

This mind map was published on 1 May 2023 and has been viewed 54 times.