Pix - Competitor Profile

Pix - Competitor Profile

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 phone number, social security number, tax ID, or email address), or by scanning QR codes.

The Brazilian payments landscape is still 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.

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

Scope

• 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 June 2021, Ria Money Transfer collaborated with Banco Rendimento to launch support for Pix, facilitating instant Brazilian real transfers.
• In March 2022, international payment platform Paysend partnered with Banco Rendimento to facilitate instant fund transfers to Brazil via Pix.
• In March 2023, Pix partnered with cryptocurrency exchange Coinbase to allow its customers to trade in cryptocurrencies.

Reasons to Buy

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