Central Bank announces new method for Pix in 2024; we will use?

Central Bank announces new method for Pix in 2024;  we will use?

Hey pixel It remained one of the most used payment methods by Brazilians in 2023. In this new year, the Central Bank (BC) is considering launching a service Auto pixel. The new feature, which enables recurring payments via Pixel, could be launched on October 28. Therefore, electricity bills or school fees may be withdrawn from the account monthly if authentication is required for each transaction.

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The new functionality will occur in a similar way to automatic debit. However, instead of listing the amount on the credit card, payment will be made directly using the instant transfer method. This way, the consumer will not rely on their card limit to be able to issue Pix Automatic.

According to the central bank, the new Pix method will be able to reach more people. Currently, to register an auto-debit account, a company must have an agreement with each financial institution. With Pix Automatic, this agreement will not be necessary, as long as the bank in question offers the method.

What are the differences from Pix Automatic?

Unlike Scheduled Pix, Pix Automatic can only be pushed to legal entities. In other words, the purpose of the new function is to actually use it to pay bills and provide services. According to the British Columbia calendar, the new tooling system will be developed between January and August 2024.

Therefore, testing will be conducted from August to September, and the launch is scheduled for October. “Participants who do not pass the approval tests and do not make Pix Automático available to their users upon the launch of the service, which will take place on October 28, 2024, will be fined for each day of delay in the offer (limited to $60 days),” the central bank said.

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What will be the rules of the new method?

Finally, some of the general operating rules for Pix Automatic are:

  • License revocation rules;
  • Rules for rejecting and settling a transaction;
  • Daily limit for product-related transactions;
  • Return rules and liability in case of error;
  • Functions that will be made available to paying users and future users;
  • Trip specifications to obtain prior authorization.

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About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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