Technology

Financial institutions in Brazil will have to offer payment scheduling via PIX starting in September

Schedules that will become mandatory as of September are those made to individuals or companies by PIX starting with the key or manual data entry

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  • Brazil’s Central Bank postponed the mandatory offer of PIX scheduled payments via QR Code;
  • As of April 30, those who receive emergency aid payments from the government will be able to move resources through PIX.

PIX participating institutions in Brazil will have to offer the possibility of scheduling payments not linked to QR Code through the instant payment system as of September 1, according to a new rule released this Thursday by Brazil‘s Central Bank. This functionality is currently optional.

The Brazilian Central Bank also postponed – from May 14th to July 1st – the mandatory offer of payment scheduling by PIX via QR Code. A transition period has now been established, from May 14 to June 30, in which institutions that are not able to offer payment at a future date are already obliged to, at least, enable the payment of the QR Code, with due calculations of any discounts or fines.

READ ALSO: Mercado Libre includes payments via PIX in its app and platform

Schedules that will become mandatory from September are those made to individuals or companies by PIX, started with the key or manual data entry.

The Brazilian Central Bank’s board also determined that, as of April 30, those who receive emergency aid payments from the government will be able to move resources through PIX.

(Translated by LABS)

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