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Central Bank workers’ strike still threatens PIX

Central Bank services could be disrupted. And there’s a risk of strikes widening should police earn a raise while Central Bank staff do not

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Central Bank workers display a banner in protest for better wages. Photo: Pedro Ladeira/Folhapress

Civil servants at the Central Bank went on strike on Friday demanding better wages, in a move which could disrupt Brazilian payments. The institution’s instant payment system, PIX, could suffer disruptions during the workers’ protest. 

Why it matters. Since its November 2020 launch, PIX has become the leading method of payment for Brazilians. In Q4 2021, it overtook credit card transactions for the first time. Its possible disruption has thus become a powerful bargaining chip in the workers’ favor.

By the numbers. Per Central Bank data, PIX transactions in Q4 2021 were up 34 percent over the previous quarter....

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