PIX
PIX is Brazil's instant payment system operated by the Central Bank of Brazil. It allows 24/7 transfers using keys such as phone numbers, email addresses, or QR codes.
PIX supports person-to-person, business, and government payments with immediate settlement. It has become a widely adopted alternative to cards and traditional bank transfers in Brazil, with a digital wallet-like experience.
Related Terms
EFT
Electronic Funds Transfer
EFT is a broad term for any transfer of money from one bank account to another through electronic me...
Digital Wallet
A digital wallet is an electronic device, software program, or online service that stores payment in...
QR Code Payments
QR code payments use a scannable code to initiate a payment from a mobile device or banking app. The...
BRL
Brazilian Real
BRL is the official currency of Brazil. It was introduced in 1994 as part of a plan to stabilize the...
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