Competitor Profile: Pix 2024

Competitor Profile: Pix 2024

Competitor Profile: Pix 2024

Summary

Pix is an instant payment platform that was created by Banco Central do Brasil. It went into the testing phase in April 2020 and was later launched in November 2020. The system operates 24 hours a day, seven days a week, 365 days a year. Transactions are completed within 10 seconds. Users can initiate transfers via channels including mobile banking, internet banking, bank branches, and ATMs. Transfers can be made using the recipient’s account number, Pix key (such as their phone number, social security number, tax ID, or email address), or by scanning QR codes.

The report provides information and insights into Pix including -

• Detailed insight into its business
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its performance highlights
• The company's important events and milestones

The Brazilian payments landscape is dominated by cash. The launch of the Pix system was designed to reduce cash use and drive competition in terms of the payment options available in the market.

Key Highlights

• In February 2020, Brazil’s central bank announced the details of a national instant payment platform called Pix set to go live in November 2020.
• In November 2020, the central bank officially launched Pix as scheduled.
• In February 2023, Brazil’s central bank authorized Brazil-based payments company EBANX (a direct participant in Pix) to offer payment initiator services via Pix.
• In March 2023, Pix partnered with cryptocurrency exchange Coinbase to allow its customers to trade in cryptocurrencies.
• In April 2024, Software-as-a-service platform FastSpring partnered with payment services provider EBANX to expand Pix payments in Brazil.

Scope

• Learn about company's business proposition, and important achievements regarding product launches, partnerships, mergers, and acquisitions.
• Examine the company’s operational and financial performance and benchmark it against its competitors.
• Detailed insight into company's current products and services mix.

Reasons to Buy

• Gain insights into Pix business operations and key events.
• Gain insights into its product portfolio and revenue model.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.