According to official information from the Central Bank, Pix was created to be a very broad and assertive means of payment. However, BC asserts that Pix is a means of payment, as is any payment or transfer made using various means (TED, Cardticket, etc.).
Pix facilitates users’ routine and requires vigilance against potential scams
However, it is a practical and effective tool. As it can be carried out simply using the smartphone device, facilitating the routine of the users.
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How do you make pix?
According to official information from the Central Bank, Pix can be used for ecarrying out interpersonal transfers; For payment in commercial establishments, including physical stores, e-commerce and payment for service providers. As well as for inter-company payments.
Revenue collection from federal public agencies
In addition, the central bank informs that Pix can also be used to collect revenue from federal government agencies as fees.
In addition, it is possible to make Pix to pay rent for public property, administrative and educational services, fines and more. Several strokes are applied in the name of the tool. However, the central bank informs that it is up to the payment service provider to analyze the fraud situation and potential payment, as is the case today with bank fraud.
Thus, in Pix there are mechanisms that increase the opportunity to recover resources, namely the reserve block and the special return mechanism, which will come into force under Pix, as of November 16, 2021, BC assures.
precautionary block
As BC knows, this action allows the organization that maintains an individual recipient user account to implement a preemptive blocking of resources for up to 72 hours in cases of suspected fraud.
Thus, the option will allow the organization to conduct a more robust analysis of fraud, which increases the likelihood of recovering funds by paying users who are victims of some crime.
Special return mechanism
According to official information from the Central Bank of Brazil, this procedure standardizes the rules and procedures to enable refunds in cases of justified suspicion of fraud by the institution that maintains the receiving user’s account, on its own initiative or at the request of the institution of the relationship of the paying user.
Through this mechanism, BC determines how and the deadlines for organizations to withhold funds, evaluate suspected fraud status and implement effective return, which gives more efficiency and speed to the process, increasing the user’s ability to recover funds.
While such mechanisms do not come into force, the institutions concerned use bilateral operational procedures to deal with the issues, as affirmed by the Basel Convention. So, watch out for fake links, SMS and WhatsApp messages, they are the means used for scams to be applied.
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