Brazil's central bank has set new rules for credit offers made while a Pix transaction is being initiated, with the aim of giving users greater protection and transparency. The rule enters into force on 1 July 2027.
The central bank said the rules give users greater protection and transparency. The measure is regulated through a resolution, which, according to the monetary authority, aims to reinforce the responsibilities of financial institutions in offering and granting credit.
TOOLS LENDERS MUST MAKE AVAILABLE
Financial institutions will also have to provide information and tools to users. The central bank said these include a credit simulator and an environment where users can consult the operations they have contracted.
RECORD HOUSEHOLD DEBT SETS THE BACKDROP
The measures come in a period of record household indebtedness in Brazil. The share of income committed to debt payments has also reached records in recent years.
Pix already includes a product called Pix Crédito. Under it, the receiving user is paid immediately and in full, regardless of the number of instalments or the payment term the paying user has contracted.
PIX HAS GROWN RAPIDLY SINCE 2020
Brazil's instant payment system, Pix, was launched in November 2020. Five years after its launch it had reached nearly 170 million users, according to the central bank.
Usage has also climbed sharply. An estimated 64 billion Pix transactions were processed in 2024, a 53% increase on the previous year.
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