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Within the Brazilian instant payment (IP) ecosystem, Banco Central do Brasil (BCB) created Pix, the Brazilian IP scheme that enables its users — people, companies and governmental entities — to send or receive payment transfers in few seconds at any time, including non-business days. By transferring funds between transactional accounts — demand, savings and prepaid payment accounts — Pix is a payment method that tends to have a lower acceptance cost because its framework works with few intermediaries.
Country
Brazil
Institution
Brazil central bank (Banco Central do Brasil (BCB))
Category
Digital Government
Focus
E-ServiceRegulationRegulatory Sandbox
Technology
FinTech
Links
"https://www.bcb.gov.br/en/financialstability/pix_en
https://www.globalgovernmentfintech.com/brazil-central-bank-launches-instant-payments-system-pix/"