I have said many times that Latin America is the hottest region for fintech on the planet. The digital banks...
As of May 2022, the PIX system had roughly 118 million users, 56% of Brazil's population.
Pix's massive success has triggered the fraudsters who always go where the action and money are congregating.
As digital banking moves forward, Brazil's fintech sector will incur higher cybersecurity spending following greater risks.
Pix has led to a dramatic acceleration in financial inclusion, Carlos Brandt, head of Pix at the central bank, said at Fintech Nexus LatAm.
By the end of 2020, the Central Bank of Brazil launched its own instant payment system, called PIX, with the ambitious goal of speeding up and facilitating transactions.
BNPL business models gained momentum in Brazil earlier in the year among financial technology firms catering services to cardless customers.
Brazil's instant payment system, Pix, has reached another milestone as its popularity continues to increase.
The president of the Central Bank of Brazil announced Pix protocols would be made available to other regulators.
A survey by Fiserv indicate the growing use of modern payment methods in Brazil such as Pix, QR codes and online shopping.