According to Belvo, the new product will function as a gate for users to initiate payments directly inside third-party apps.
While Brazil's PIX has achieved great success, it is not alone. UPI has thrived in India, ushering millions into the digital economy.
Brazil and India are leading instant payment growth, with Pix and UPI accounting for over a third of total instant payments worldwide.
Pix's massive success has triggered the fraudsters who always go where the action and money are congregating.
Pix is a constantly-evolving product, with new features being recurringly rolled out. What is next for Pix this 2023?
Brazil's Pix has not only reshaped its national payment landscape but also emerged as a catalyst for financial innovation across Latin America, showcasing the potential of instant payment systems. By 2026, Pix is poised to become a dominant force in Brazil's digital economy, reflecting its significant impact on financial inclusion and market competition. Its rapid adoption and innovative features are now inspiring neighboring countries, paving the way for a comprehensive digital payment transformation throughout the region.
One of the most popular payment methods in Brazil, Pix is now set to take over online commerce too, a study by fintech EBANX shows.
As digital banking moves forward, Brazil's fintech sector will incur higher cybersecurity spending following greater risks.
BNPL business models gained momentum in Brazil earlier in the year among financial technology firms catering services to cardless customers.
Companies served by EBANX can now offer consumers the ability to pay for online purchases with PIX directly through the checkout.