Brazil's Pix Instant Payment System Overview

This document is a technical report detailing Brazil's Pix instant payment system, launched by Banco Central do Brasil in November 2020. It outlines the significant growth and adoption of Pix, which processed nearly 7 billion transactions in July 2025, amounting to over BRL$3.0 trillion. The report explains the factors contributing to Pix's success, including the mandate for adoption by major payment service providers, cost reductions, and operational efficiencies. It describes how Pix simplifies payment processes for users and businesses, enhancing financial inclusion. The introduction of Pix Automático, a feature for recurring payments, is also discussed, highlighting its ease of use and benefits for various sectors, including subscription services and utilities. The report concludes with an overview of how Citi supports Pix in Brazil, emphasizing its commitment to providing advanced payment solutions.