The decision was taken following a meeting of the Central Bank’s policy advisors on how to maximise global cross-border payment authorisations and efficiencies helping expand Brazil’s international network and resources for business.
Pix was first launched by the central bank in 2020 but its relatively short operating history has seen the instant payments platform become widely utilised in Brazil for both day-to-day consumer and business payments, more so than both debit cards and credit cards.
The system has already been taken multinational to some extent, as Brazilian tourists in the country’s neighbours Uruguay and Paraguay are able to use their Pix digital wallets to pay for services such as restaurants and hotels via a QR code.
However, the central bank is interested in taking Pix even further afield, beyond the borde..
