The Central Bank (BC) today announced an update to Pix to expand the use of the instant payment system. With the changes, it will be possible to make transfers through messaging applications and social networks, as well as to pay for purchases made online.
For this purpose, the BC Resolution, which was announced today, regulates the rules for financial institutions participating in open banking (data sharing system). Only these institutions will be able to provide the new services. The technical requirements and operational procedures for sharing the Pix payment transaction initiation service are defined. The so-called initiation occurs when the institution that conducts the payment transaction with Pix differs from the bank that holds the user’s paying account. In other words, the user will be able to make the payment through an application other than that of their bank where the account was registered with the Pix key.
The service, a new instant payment method on Pix, is expected to go live from August 30th.
The service will allow the movement of bank accounts from different platforms and not only through the application or Location from the bank. In other words, with the update, it will be possible to pay with Pix using the service of other organizations.
Among the innovations is also the possibility to make transmission through applications such as messaging or even through social networks.
Another potential use could occur in the case of purchase payments Online. With the new method, everyone who buys a product online can be automatically directed to the transaction payment screen in the bank app. In this case, upon completion of the transaction, the customer will be automatically redirected to the online store or application.
The BC Resolution updates the rules for Pix and stipulates that the changes will happen in phases, so that organizations have enough time to make adjustments to their systems for each of the ways to initiate payment via Pix: manual entry, Pix key, static and dynamic QR code and direct with recipient data.
Only organizations licensed by BC can exercise the function of a Pix initiator. The user will have to allow data sharing.