Instant payment system Pix has overtaken credit and debit cards as the most used means of payment in Brazil.
As of May 2022, the PIX system had roughly 118 million users, 56% of Brazil's population.
As digital banking moves forward, Brazil's fintech sector will incur higher cybersecurity spending following greater risks.
The central bank of Brazil is gearing up to launch Pix Automatico, a form of direct debit through instant payment system Pix.
I have said many times that Latin America is the hottest region for fintech on the planet. The digital banks...
Pix's massive success has triggered the fraudsters who always go where the action and money are congregating.
Transfeera, a banking-as-a-service provider in Brazil focusing on B2B transactions, raised $ 1.3 million this month in a series A round.
A survey by Fiserv indicate the growing use of modern payment methods in Brazil such as Pix, QR codes and online shopping.
Pix achieved the milestone of 3 billion monthly transactions in March, up from a previous record of 2.8 billion by the end of last year.
Brazil and India are leading instant payment growth, with Pix and UPI accounting for over a third of total instant payments worldwide.