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The Central Bank of Brazil Plans To Launch Instant Payment Platform
Summary: The Central Bank of Brazil (BCB) announced a plan to launch a new near-instant payment system in November. The platform has been dubbed the Brazilian Instant Payment Scheme (PIX) and is designed to facilitate peer-to-peer and business-to-business transactions in 10 seconds or less via mobile phone, internet banking, or select ATMs. According to a press ...
The Central Bank of Brazil (BCB) announced a plan to launch a new near-instant payment system in November.
The platform has been dubbed the Brazilian Instant Payment Scheme (PIX) and is designed to facilitate peer-to-peer and business-to-business transactions in 10 seconds or less via mobile phone, internet banking, or select ATMs.
According to a press release published Feb. 20, all BCB licensed financial and payment institutions will have to provide their active customer accounts with the functionalities required to facilitate PIX transfers.
By Ramsey Baker
Tags: Brazil,Central Bank of Brazil,instant payment system,PIX
Link: The Central Bank of Brazil Plans To Launch Instant Payment Platform [Copy]
