Last Friday (29 October), the third phase of Open Banking in Brazil was initiated. The new phase will allow the integration of the shared environment with Pix and represents a new milestone for instant payments: Pix 2.0.
But what changes will there be for consumers in Brazil? This is what we will explain in this article. Learn more!
Pix 2.0: what changes with the integration between Open Banking and Pix?
With the implementation of the third phase of Open Banking in Brazil, consumers will be able to make a Pix payment in the Open Banking environment.
Read also: Open Banking in Brazil: what will change?
In other words, consumers will be able to make a Pix payment through channels that aren’t necessarily the financial institution’s app. This means customers will be able to initiate a payment and carry out transactions with Pix through different channels, such as retail companies and even social media channels.
An even easier way to pay for consumers
One of the greatest advantages this new phase offers to consumers is the possibility to store their information in websites so that Pix payments are easily carried out for future purchases, without the need of scanning the QR code shown on the screen or re-inserting banking details to complete the transaction.
Further, the consumer will also be able to integrate Pix with payment transaction initiation services – which allows companies that aren’t necessarily financial institutions to initiate a financial transaction independently.
This will enable an even more fluid payment with Pix, as it will exempt customers from opening a banking or digital wallet app to carry out a payment. The new feature will be available to ecommerce businesses, delivery platforms, urban mobility apps, and more.
Which companies will be able to participate?
To offer this option to consumers, companies must be registered at the Central Bank of Brazil as a payment transaction institution and comply with the security and surveillance protocols.
Pix via WhatsApp?
WhatsApp already allows users to carry out P2P payments using their debit cards. The new phase of Open Banking will allow the chatting app to work as a payment initiator if integrated with Pix.
The implementation of Pix 2.0 is forecast to start in February 2022. The fourth phase of Open Banking in Brazil will begin on December 15th.