In operation since November 16, 2020, PIX has quickly become popular in Brazil and, in the first half of 2021, was already the most used transfer method in the country. In March 2021, PIX was being used more than DOCs and TEDs (electronic transfer methods in Brazil) combined. The PIX system works uninterruptedly, including on weekends and public holidays, and payments are processed instantly: within a few seconds, funds go from one account to another.
PIX is one of the many initiatives emerging around the globe to make the payment and financial transfer process easier and more inclusive. In order to deepen our understanding of PIX and explore concepts that may be used to support the quick use of this payment method, Capco conducted an online survey all over Brazil between February and March 2022, as well as many interviews with microentrepreneurs and small and medium-sized companies.
After analyzing the results and official data from Brazil’s Central Bank, it is clear there is a big opportunity to increase the use of PIX, mainly by companies, as well as the need to improve or change the PIX journey in order to enhance the user experience.
Learn more about PIX and the results of our survey by reading our latest whitepaper.