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The new revolution in instant payments
In recent times, the Pix has established itself as a powerful instant payment system in Brazil. Under the guidance of the Central Bank, the platform is about to enter a new phase of innovation. Roberto Campos Neto, the president of the Central Bank, revealed future plans to allow users to schedule payments, providing an even more flexible payment experience. This evolution of Pix signals a trend toward reduced dependence on other payment methods, especially credit cards. On the other hand, major credit card companies are already realizing this transformation and are seeking to adapt through innovation.
The potential of Pix Garantido and the future of credit cards
At the XXXIII Lisbon Meeting, Campos Neto highlighted that this new form of payment set a record with 168 million transactions in just one day. He also introduced the concept of Pix Garantido, a feature that will allow users to pay in installments, although the launch date is still pending. According to experts, this feature has the potential to transform the financial landscape. Roberto Nacchace, a renowned McKinsey expert, agrees with Campos Neto and suggests that the installment payment option through Pix could eventually overshadow the use of credit cards. However, he emphasizes that such a change could be incremental rather than abrupt.
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Future launches and challenges for Pix
Despite the promising innovations, this payment method also faces challenges. A significant update, Pix Automatic, which promises to replace traditional direct debits, had its launch postponed until October 2024. The reason for this delay was the disruption caused by strikes by Central Bank employees. Although it is facing obstacles, Pix is shaping the future of payments in Brazil, and credit cards will need to innovate to remain relevant in this rapidly evolving scenario.
Image: Unsplash/Nathan Dumlao
