Brazil’s instant payments system Pix set a new single-day record on Friday, November 28, registering 297.4 million operations and moving R$166.2 billion(Over $30 billion), the Central Bank (BC) reported on Monday, December 1.
The total surpassed the previous one-day high of 290 million transactions, recorded on September 5. The spike coincided with Black Friday sales and the deadline for employers to pay the first instalment of the 13th salary, boosting transaction volume across the economy.
“This is yet another demonstration of the importance of Pix as a public digital infrastructure for the functioning of the national economy,” the Central Bank said.
Five years after launch, Pix dominates Brazil’s payments landscape
Launched in November 2020 after studies that began in 2016, Pix has become the country’s main payments rail in just five years. The system has been used by more than 170 million Brazilians and holds roughly 890 million registered keys.
From its start in November 2020 through September 30, 2025, Pix routed R$85.5 trillion($17 trillion). A Central Bank survey published at the end of 2024 found that 76.4% of the population uses Pix — up from 46% in 2021. In the first half of 2025, Pix accounted for 50.9% of transactions nationwide.
The low cost and wide adoption of Pix have accelerated financial inclusion. The system has also intensified competition among banks and payment providers, driving many customers toward digital banks and new payment services. According to payments specialist Thiago Amaral, this shift has heightened the race for transactional accounts and pushed innovation across retail and e-commerce.
New features and business use cases
Beyond peer-to-peer transfers, Pix’s features — including billing, scheduled payments and QR codes — have enabled new business models in e-commerce, brick-and-mortar retail, and subscription services. Those capabilities helped make Pix a reference point for digital payment systems globally. The Central Bank says international expansion is on its agenda, although formal rules for overseas deployment are still under study.
Regulation and fraud protection upgraded
As Pix grew, regulators moved to tighten protections against scams and fraud. New Central Bank rules recently came into effect, strengthening system security and widening options for victims to reclaim funds.
The most notable change refines the Special Refund Mechanism (Mecanismo Especial de Devolução, MED). The MED now traces the path of funds across accounts and can return money even if it has been moved multiple times. Requests for the MED must be filed within 80 days of the disputed operation. Previously, refunds could only be pursued against the first receiving account, which often blocked recovery when funds were quickly forwarded.
Brazil’s Superior Court of Justice (STJ) applies the same legal logic to Pix as to other electronic channels: banks and payment institutions are generally held objectively liable for service failures. Institutions can avoid responsibility only when the consumer’s own exclusive fault is proven — for example, if the victim knowingly shared passwords or ignored clear security warnings.
Source: Olhar Digital
