Economy

In the first full operation week, Brazil's PIX recorded 12.2 million transactions

Only in the first day of PIX's operation, Brazil's central bank registered 1.8 million transactions

The deputy head of the Central Bank’s Competition and Financial Market Structure Department, Carlos Eduardo Brandt. Photo: Screenshot/YouTube
  • 34.5 million individuals and 2.2 million businesses are registered within the system;
  • There are currently 735 financial institutions able to offer PIX for their customers.

In the first week of full operation, PIX recorded 12.2 million transactions that totaled a financial volume of BRL 9.3 billion. The new Brazil’s central bank instant payments system also registered 83.5 million keys in the first seven days of operation.

Only in the first day of PIX’s operation, Brazil’s central bank registered 1.8 million transactions.

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In all, 34.5 million individuals and 2.2 million businesses are registered within the system, as reported the Head of Brazil’s Central Bank Competition and Financial Market Structure Department, Ângelo Duarte, during a press conference.

According to him, there are currently 735 financial institutions able to offer PIX for their customers. There are also 29 unauthorized institutions, that, according to Duarte, have been completing tests and after showing that themselves are able to fit in the PIX they will return to the list of suitable institutions. PIX will receive new institutions starting on December 1st.

According to him, the Brazilian Central Bank saw the first week of full operations in a positive way without major complications.

Brazil’s central bank also disclosed that the figure about portabilities (that is when a customer demands that the key registered with an institution to be transferred to another bank institution or fintech) reached 4.4 million.

READ ALSO: On the first day of trials, PIX records more than 1,500 transactions, says Brazilian Central Bank

The deputy head of the Central Bank’s Competition and Financial Market Structure Department, Carlos Eduardo Brandt, considered this amount as a natural path of those customers adopting to use the platform.

According to the Brazil’s Central Bank team, the average ticket for PIX transactions has been increasing, noting that at first PIX had a predominance of transactions between individuals, and gradually trade has been adopting the novel payment system.

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