Technology

60% of Brazilians prefer PIX over bank transfers, says Ibope survey

The survey also shows that 45% plan to shop for products and services using the instant payment system

PIX, Brazil's instantpayments system logo
PIX, Brazil's instant payments system logo, on a smartphone screen. Photo: Shutterstock.
  • A survey by Ibope/C6 Bank showed that 60% of the people interviewed consider the Central Bank’s new instant payment system better than TED and DOC, the traditional bank transfers in Brazil;
  • Held between 18 and 24 November, the survey has two percentage points of error margin. 2 thousand people from all regions of Brazil took part.

An Ibope survey commissioned by C6 Bank and announced this Monday disclosed that 60% of the people interviewed consider the Central Bank’s new instant payment system better than TED and DOC, the traditional bank transfers in Brazil. 92% also said they had at least heard of PIX.

PIX is Brazil’s new instant payment and bank transfer system officially launched on November 16. Held between 18 and 24 November, the survey has two percentage points of error margin. 2 thousand people from all regions of Brazil took part.

READ ALSO: Brazilian e-commerce will never be the same after PIX

Over half of the respondents – 56% – intend to use PIX to pay bills such as telephone, water and electricity, while 45% plan to shop for products and services using the instant payment system. Also according to Ibope, 53% think of prioritizing the use of PIX over traditional cards.

Men in the range of 25 to 34 years old, from AB classes (upper classes) have the highest percentage among those who have already registered in the new system. Out of the total, 35% of people said they intend to use PIX and a third of them are waiting to have more information before joining the payment system.

“The numbers show that mass adoption is a matter of time,” says Maxnaun Gutierrez, head of products and individuals at C6 Bank.

READ ALSO: Banco do Brasil to enable payments with PIX through WhatsApp

By December 3, 43 million transactions were carried out through PIX, which handled BRL 40.5 billion according to data from Brazil’s Central Bank. 99.7 million keys were registered by 40.4 million individuals and 2.5 million companies.

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