Meet PIX, the new revolution in the financial market

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You've probably heard of Pix, right? This previously unknown name has taken over the main media outlets in recent weeks. Whether on social media, on television, or in family groups, somehow this little word has reached people and with it a series of questions have arisen. Although it may seem a bit complex, this new program from the Central Bank is here to facilitate financial transactions in our country.

In the article below, we will explain everything you need to know about Pix and how it can revolutionize the financial market.



Pix! What is it and how does it work?

Known as an instant payment system, PIX arrived to revolutionize the market.

It is a program launched by the Central Bank (BC), with the purpose of reducing payment time between accounts at different banks and institutions, without restrictions on day and time.

Advantages of using PIX

The program offers several advantages, including the whatsapp users in south africa possibility for the customer to carry out transactions 24 hours a day, 7 days a week, including weekends and holidays.

PIX works instantly; the transfer is completed in just 10 seconds. It also allows payments to be made in commercial establishments by reading QR Codes, which must be scanned with a cell phone.

Values ​​for using PIX

Transfers between individuals are free of charge, avoiding the payment of fees such as TED (Electronic Transfer Available), DOC (Credit Order Document) or payments in establishments. Companies will be subject to fees when making payments, but the debits will be lower than current transactions.

Does PIX offer security?

PIX was developed to be much more secure, your transactions will be much faster and more practical, just use the PIX Key. This key can be a CPF, CNPJ, cell phone number or email address.

The Central Bank has released up to five keys for each account held by individuals, while for companies, the number of keys goes up to twenty for each account held by them.

In addition, the user will also be able to have their own QR Code and receive money via PIX through contactless payments.

In the search for greater security, the PIX program allows you to register your biometrics and facial recognition, thus avoiding fraud and errors.

Is it possible to cancel a PIX transaction?

You must be very careful when entering data into PIX, as payments are settled in real time and cancellation is not permitted.

However, if negligence occurs, you can negotiate with the recipient to return the amount paid, either partially or in full.

When will PIX be launched?

The Central Bank announced that the launch of the PIX program is scheduled for November 16, 2020 throughout the country, but registration was already released on October 5, 2020 in banks, fintechs and payment institutions.

What to do to start using it?

To use PIX, you must have a checking, savings or prepaid payment account at a financial or payment institution. The option to use the program will be offered by the entity, through the respective applications or internet banking, in the same way as TED or DOC, there will be the PIX option.

You just need to register for the function and from then on you will have your PIX key.

Is it worth using PIX?

Without a doubt, the implementation of PIX is a relevant advance in banking transactions, bringing with it practicality, exemption from transfer and payment fees, agility and modernity.

Now that you know Pix and its features, we have some news for you! Uniplus, a management system for companies, is already adapting to PIX and thus continuing to offer the most complete system to its customers.