The Brazilian central bank has postponed the introduction of recurring payments on its Pix platform from October to next June.
Automatic Pix will enable users to authorize periodic debits without the need for authentication for each transaction. The central bank anticipates this feature will benefit various sectors, including educational institutions, gyms, condominiums, social clubs, health plans, streaming services, news portals, subscription clubs, and financial services firms.
Beyond enhancing convenience for users, the bank expects to see cost reductions as this operation functions independently of bilateral agreements, unlike direct debit, and utilizes the infrastructure already established for Pix. Since its launch in late 2020, Pix has experienced remarkable success, accounting for 39% of all payments, surpassed only by card transactions (credit, debit, and prepaid), which make up 41%.