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Brazil’s Pix hits 6bn monthly transactions: What does it mean for US?

By Gloria Methri

January 22, 2025

  • Brazil
  • FinTech
  • Instant Payments
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QR Payments, Pix, Brazil, Instant Payments, Real-Time PaymentsBrazil’s Pix payment system is revolutionising the way payments are made, with the latest data from Matera’s report highlighting the unprecedented growth of this instant payment platform. With over 6 billion monthly transactions in Q4 2024, Pix has not only surpassed credit and debit card transactions but also set the stage for further innovation.

Pix is an instant payment system in Brazil that allows users to make real-time, secure transactions 24/7, using QR codes or identifiers, without fees or delays.

The ‘Pix by the Numbers’ report uncovers a surge in both consumer and business adoption, providing critical takeaways for U.S. financial institutions (FIs) looking to accelerate their instant payment systems like RTP and FedNow.

A Year of Milestones

The year 2024 marked a record-breaking milestone for Brazil’s Pix, with an estimated 64 billion transactions processed—an impressive 53% year-over-year (YOY) increase. This growth outpaced the combined volume of credit and debit card transactions by 80%, illustrating the rapid adoption of Pix as the go-to payment method for both consumers and businesses alike.

A standout moment came on December 20, 2024, when Pix achieved a single-day record of 252.1 million transactions, underscoring its position as a vital player in Brazil’s financial ecosystem.

One of the most striking trends is the rise of Person-to-Business (P2B) payments, which emerged as the fastest-growing use case in 2024. This segment saw a 94% YOY growth, reflecting consumers’ increasing preference for instant payments in everyday transactions. With Pix, businesses benefit from faster, more efficient payments, while customers enjoy the simplicity and speed of completing purchases via QR codes or other instant payment methods.

The B2B segment also witnessed significant growth. In December 2024, the volume of B2B Pix transactions exceeded R$1 trillion (approximately USD 200 billion), marking a 56% increase from the previous year. This surge highlights Pix’s expanding role in facilitating large-scale, cross-business payments—an area traditionally dominated by slower and more costly methods like bank wires or checks.

What’s Next for Pix?

Looking ahead to 2025, two major innovations are set to propel Pix’s adoption even further.

NFC Payments: Scheduled for rollout in 2025, Pix’s NFC-enabled tap-to-pay feature will allow users to make instant payments with just a tap of their smartphone, much like Apple Pay, but without transaction fees. This enhancement is expected to bring even more users to Pix, particularly in the retail space where fast and frictionless payments are in high demand.

Pix Automatic: Launching in mid-2025, Pix Automatic will introduce recurring payments for subscriptions, utilities, and even investments. This new feature will broaden Pix’s functionality, making it an even more versatile option for both consumers and businesses looking to automate their financial processes.

Key Takeaways for U.S. Financial Institutions

Brazil’s Pix serves as a powerful example of how a well-designed, user-friendly instant payment system can reshape a country’s financial landscape. For U.S. financial institutions, there are valuable lessons to be learned from Pix’s success:

Interoperability: Pix’s seamless integration across different payment platforms and financial institutions has been a key factor in its rapid adoption. U.S. FIs can look to build similar interoperability between different payment networks like RTP and FedNow to enhance their accessibility and reach.

Ease of Use: The success of QR code-driven payments in Brazil highlights the importance of making instant payments easy and intuitive for users. As the U.S. transitions to a more digital-first economy, ensuring that instant payment systems are simple to use will be critical to their success.

Innovation: Pix’s ability to continuously innovate—whether through features like NFC payments or recurring billing options—has helped keep it at the forefront of consumer preferences. U.S. FIs can leverage this spirit of innovation to create more engaging and convenient payment solutions for their customers.

Carlos Netto, CEO of Matera, commented, “Pix has shown the world how instant payments can reshape a nation’s payment landscape in just a few years. U.S. financial institutions have a unique opportunity to build on this momentum, leveraging the lessons from Brazil to unlock new revenue streams and enhance the payment experience for businesses and consumers alike.”

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