Brazil launches ‘Pix’ instant payments system, WhatsApp to enter ‘soon’

Campos Neto also said the central bank is in talks with big tech players such as Google and Facebook about entering the Brazilian payments services market. — Reuters

BRASILIA: Brazil's central bank on Monday launched an instant payments platform that will speed up and simplify transactions, as well as foster financial sector competition and lure in new players such as big techs Facebook Inc and Google.

Dubbed “Pix”, the state-owned instant payments system allows consumers and companies to make money transfers 24 hours a day, seven days a week, without requiring debit or credit cards. It is also free of charge for individuals.