In addition to financial inclusion, Pix focuses on credit and cashback options, fighting with major market players
Pix will offer credit operations in 2021 and ‚fight‘ with Visa and Mastercard, announces Banco CentralNOTÍCIAS
The Central Bank of Brazil announced during a press conference on the official launch of Pix (16) that the new Central Bank system will ‚fight‘ with the major card operators in 2021.
Thus, according to the Central Bank, in the Bitcoin Loophole year it sees Pix’s evolutionary agenda, new features are planned, among them the „Pix Garantido“.
In the Pix Garantido, according to the CB, Pix participants will be able to execute guaranteed transactions, i.e. they cannot be cancelled and can be scheduled.
„When you perform a credit card transaction this is a guaranteed transaction and we intend to offer it on Pix from next year onwards,“ said João Manoel Pinho de Mello, director of Central Bank (CB) organization and resolution.
According to the Central Bank, in addition to the credit operations, other functions are planned for Pix next year as the „Pix Drawing“ and the „Cash Back“.
„The Pix will bring financial inclusion, competition in the financial system, efficiency and security. Transferring money and making payment has to be as easy as making a call or sending a message. We will have scheduled payments and cashback in the near future,“ said Roberto Campos Neto, President of the Central Bank.
In the case of „Pix Withdrawal“ the system will allow users to withdraw money from bars, supermarkets, bakeries, restaurants and other commercial establishments.
Thus, when the customer goes to a bakery, for example, he can request a withdrawal. The amount is automatically deducted from your digital account.
The cashback will work as a kind of change system.
In this way, the customer will be able to pay a bill with a higher value than the stipulated amount and get the change in physical money.
„The citizen can pay a bill of R$ 200, for PIX with R$ 300 and receive the change in physical money and not in his digital account,“ said Pinho de Melo.
According to the Central Bank, all these ‚additional‘ Pix products may have fees set by companies.
BC also stated that 734 institutions have registered to offer Pix to customers.
Another 19 companies, with optional participation, did not perform all the tests during the restricted operation period and returned to the approval stage as of December 1, 2020.