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"Today, if you go to Orlando [USA] you can now buy with Pix" said Roberto Campos Net, president of central bank (BC), at an event Brazilian Association of Foreign Exchange Brokers (embrace) this Monday (02). When asking about the international pix, the president also listed other countries where purchases through the payment system can now be made. Check out more details about the new feature below: l5n1z
BC President talks about international Pix 702b26
In addition to mentioning the United States in the integration of Pix, Campos Neto indicated Pix's participation in other continents and in regions of strong interest to the government, such as Latin America and Asia. Therefore, the instant payment system is increasingly open to other central banks around the world, according to the president. Also with a view to providing more updates, Campos Neto highlighted one of the main objectives: achieving more flexibility to carry out transactions through the tailored digital system, with more security.
If you don't want to make a payment to someone who isn't on the agenda, you can block the amount and time to do something more subjective.
Roberto Campos Net,
president of the Central Bank (BC).
The internationalization of Pix is just one of the phases of the strategies designed to further digitalize the economy: the BC is also improving the credit function in instant payment, at the same time as it is in the launch phase of drex (the digital version of the real); in studies to use artificial intelligence (AI) to improve transfers; and develops a new banking application — the banking “superapp” would have several bank s in one, with an interest rate comparator, among other combined resources.
As for the international Pix and its operation, the BC has already announced that the system can be used outside Brazil through integration with other similar systems in other countries. In the USA, for example, it is already possible to use the fednow, which works basically the same as Pix: it operates 24 hours a day, 7 days a week, but does not serve people who use s in US banks that operate outside the country. After the update, for those who want to use the Brazilian system in other countries, it will be possible to purchase via Pix with the of these other international systems.
In December 2022, the BC had published a report announcing several innovation projects for Pix, with the creation of new businesses, opportunities in open finance (integration of banking data with other platforms, using customer data), among other implementations. In the document, there is a priority for countries close to Brazil, such as Uruguay, Colombia, Peru and Ecuador, along with others more distant, such as Canada and the USA.
Where can you pay for purchases with Pix outside of Brazil? 6r5x6k
In the event of embrace, Campos Neto mentioned other countries that can accept purchases with Pix: Argentina and Uruguay. But, on February 27th, during a lecture at the Brazilian Institute of Education, Development and Research (IDP), the president of BC has already indicated that other countries can participate in the integration of international Pix, such as Colombia, Chile and Ecuador. Therefore, the priority in the payment system project is to connect with nearby countries.
[…] If we have an instant payment, already unified, we already do the cross-border payment work. Roberto Campos Net
However, these and other countries that adopt Pix as a payment method will only be consolidated by the BC in two years, according to the estimate made by the Breno Lobo, who works as a consultant in the Department of Competition and Financial Market Structure from BC. For now, of the financial institution are thinking about integrating Pix with 60 countries.
O drex, a digital currency equivalent to the real that is in the design phase, is not expected to also be included as part of internationalizations. The digital real will be intended to replace, when necessary, other forms of payment, such as physical money or conventional deposits, and is expected to be launched in 2024.
Pix security updates 5w6s5o
In May of this year, the central bank had already announced new updates for protect transfers via Pix, which will arrive in November: the focus is on two fronts, which include warnings about infractions committed with the system and greater transparency in querying data in transactions. In this way, changes in the Pix will allow more active surveillance and fraudulent transactions, for example, to be rejected more promptly, according to Breno Lobo.
In practice, the strategy of BC It involves both monitoring s with a greater chance of being used by criminals and protecting against the emergence of orange s. Asked about the use of fraudulent s at the event embrace, Campos Neto also guaranteed that, even with the internationalization of Pix, security would be maintained. The security strategy against orange s, for the president, is to carry out a sufficiently appropriate mapping, which may even have the of AI.
[…] Basically, if someone commits fraud, they will have to deposit the result into the and then you limit the ability to [commit] fraud. Roberto Campos Net
Have you tried using Pix outside Brazil? Did you like the news? Tell us, at showmetech!
See also:
Source: Estadão | Innovation Agenda (Central Bank of Brazil) | B3 | Power 360 | CNN Brazil
Text proofread by: Pedro Bomfim (2 / 10 / 23)
Bolsonaro is the man! I love the PIX S2