Business

Will 2020 see the overhaul of the payments market in Brazil?

A new Central Bank payments platform is nearing launch, while experts say the pandemic has sped up trends toward digital banking solutions

Will 2020 see the overhaul of the payments market in Brazil?
Image: w_key/Shutterstock

PIX, an instant payment platform created by the Brazilian Central Bank, is one step closer to its launch date. On Wednesday, the monetary authority approved and published the regulations for the new platform, which is set to begin operating in November, as the latest addition to the ebullient payments market in Brazil. 

The pandemic has imposed new habits for consumers around the world and, in many cases, it has sped up processes that were ongoing before Covid-19 arrived. In Brazil, changing consumer routines have come together with new technologies in the payments market, many of which are set to...

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