The Central Bank of Brazil is set to launch a new feature for its instant payment system, Pix: contactless payments. This functionality is expected to be available next week, providing Brazilians with a more practical and agile method for financial transactions. The announcement was made by Roberto Campos Neto, President of the Central Bank, during a panel at the LIDE Brazil Conference in London, where he highlighted Brazil's advancements in financial innovation.
Campos Neto revealed that he will participate in an event with Google, which is collaborating on the implementation of this technology. The contactless Pix will operate similarly to mobile credit card payments, widely used through platforms like Google Pay. With this new feature, users will be able to complete transactions by simply bringing their smartphones close to a terminal that accepts Pix, eliminating the need for QR codes and enhancing the speed of the process.
Launched in 2020, Pix revolutionized payments in Brazil by enabling instant and free transfers between individuals and businesses, available around the clock. The introduction of contactless Pix is expected to further increase the usability of the tool, making it easier for Brazilians to access a fast and practical payment method.
The contactless feature aims to provide a more intuitive experience for consumers and a more accessible alternative for small merchants already utilizing contactless payment technology. Currently, to make a Pix transfer, users need only a Pix key, which is an identifier linked to their bank account and can be a mobile number, CPF/CNPJ, email, or a randomly generated code. With this key, sending money to another person or business is simple and quick, requiring only the key to be entered into the banking app or scanning a QR code.