“Faz um PIX,” or “send a PIX”, has become a common saying for Brazilians when asking friends to pay them back. The expression also gave the title to a recent ‘sertanejo’ song, a Brazilian country music genre. This is telling of the success of PIX, the instant payment solution implemented by Brazil’s central bank, Banco Central do Brasil (BCB).
Launched in November 2020, there are now almost 135 million registered PIX users out of a population of 213 million. A total of approximately 985bn reais ($190.5bn) has been transacted via PIX so far.
