PIX

Brazil's central-bank instant payment system that settles account-to-account transfers 24/7 in seconds using a simple key or QR code.

Definition

PIX is the instant payment scheme run by Banco Central do Brasil, launched in November 2020. Payers send money using a PIX key (a phone number, email, tax ID, or random key) or by scanning a QR code, and funds settle in real time between banks, any day of the week. PIX has become a dominant online payment method in Brazil because it is fast, low-cost, and widely adopted. Like other instant push rails, PIX payments are effectively irrevocable once sent, so consumer protection relies on the bank's authentication and on merchant-side controls rather than card-style chargebacks.

Worked example

A Brazilian customer copies a dynamic PIX QR code at checkout, confirms in their banking app, and the deposit is credited within seconds.

Why it matters

For learners, PIX is a leading example of a national instant-payment scheme reshaping how people pay. For professionals, PIX acceptance was often the single most important local payment capability in Brazil's licensed betting market; since Provisional Measure 1.394 of 25 September 2026, banks, payment institutions and payment schemes, instant payments included, may handle fixed-odds betting transactions only to wind down operations and refund players (art. 14).

Further reading

Authoritative references for payments — regulators, standards bodies and primary sources. Independent, not affiliated.

• PCI Security Standards Councilpcisecuritystandards.org
• EMVCoemvco.com
• PSD2 — Directive (EU) 2015/2366 (EUR-Lex)eur-lex.europa.eu
• European Banking Authority — Payment services and electronic moneyeba.europa.eu

Note: Specific to Brazil; the launch date (Nov 2020) is confirmed, but scheme rules and any gambling-sector requirements evolve.