Pix has become a huge success among Brazilians. According to research carried out by Febraban, the Brazilian Federation of Banks, Pix has reached the mark of 93.6 million registered users. Over 80% of Brazilians with a bank account already use Pix, according to the Central Bank of Brazil.
The Central Bank of Brazil foresees the launch of new features by the end of 2021. And one of these functionalities is Pix Offline, which will enable users to send and receive money without an internet connection.
How will Pix Offline work?
According to the President of the Central Bank of Brazil, Roberto Campos Neto, three different technologies are under evaluation. However, Pix Offline will most likely take place through a pre-paid Pix proximity card, a technology similar to the one used for bus passes in Brazil. With this resource, payers without easy access to the internet will also be able to carry out operations via Pix, benefiting from all of the instant payment’s features, such as immediate payment confirmation and 24/7 availability.
Pix’s upcoming features
In addition to Pix Offline, the Central Bank of Brazil will also launch other innovating features. Proximity payments with Pix are one of these functionalities, which will enable payers to instantly make a payment with their smartphones, using NFC technology. Further, by 2022, the Central Bank of Brazil also foresees the launch of Pix Garantindo, a feature that will enable installment payments with Pix.
Since its debut in November 2020, Pix has proven to be more than simply a payment method, moving forward to becoming potentially the most complete payment platform in Brazil. The instant payment is also one of the most sophisticated financial systems in the world, awarded in the Fintech & Regtech Global Awards 2021 in the category Payment Innovation.
Want to learn more about Pix? Access our content series on the subject!