Brazil’s PIX surpasses 1 billion transactions
The news: Brazil’s central bank-run instant payments system processed 1.05 billion transactions worth BRL787 billion ($152.6 billion) between November and March, per Mobile Time.
Here’s how it works: PIX, which launched in November, lets users make real-time money transfers 24/7 to individuals or businesses without needing a bank account. To use the smartphone-based service, users have to register “keys” like their social security numbers, mobile phone numbers, or email addresses with a bank or fintech as an authentication method.
By Adriana Nunez via eMarketer