The world of digital payments is constantly evolving, and Brazil stands at the forefront of this evolution with the introduction of Pix Automatico (Automatic Pix). This new addition to the existing Pix payment system promises to redefine recurring payments, and here’s why businesses and consumers should be excited.
Understanding Pix and Pix Automatico
Pix has radically transformed the payment landscape in Brazil. Imagine having your coffee at a local cafe, and when the bill comes, you pay instantly using your banking app, no credit card or cash needed. Pix made this possible. Since its launch in November 2020 by the Brazilian Central Bank, it has seen exponential adoption, with over 80% of Brazilians using it by 2024.
Enter “Pix Automatico,” the next evolution of the Pix system. It is designed for recurring payments, whether monthly, biweekly, or any other interval. This new feature paves the way for the 170 million active Pix users to handle recurring purchases beyond just cards.
A glimpse into the potential of Pix Automatico
If the success of Pix is any indication, Pix Automatico is set to revolutionize the payment landscape. Consider these insights:
New customer acquisition: During a recent analysis, 95% of consumers using Pix were new to the merchant platform, accounting for 43% of the volume paid via Pix
Sales volume boost: Merchants that integrated Pix saw a 16% uptick in sales volume.
The future with Pix Automatico
Businesses should gear up to leverage Pix Automatico because his feature promises not only to simplify the recurring payment process but also to draw in new customers and enhance sales volume. As the Brazilian market becomes more dynamic, staying updated with these innovations will be paramount.
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