Brazil’s Pix to Start Enabling Installment Payments in September

Brazil’s instant payment system, Pix, will reportedly allow users to pay for transactions in installments, beginning in September.

The new feature, Pix Parcelado, will be available to both consumers and businesses, Reuters reported Thursday (April 3), citing Brazil’s central bank.

While payers will have the option to pay over time, payees will receive the full payment immediately, according to the report.

“The feature has the potential to boost Pix usage in retail for higher-value purchases, benefiting those without access to traditional credit options,” the central bank said, per the report.

The central bank also said it will add another feature that will allow future Pix receivables to be used as collateral for credit operations, according to the report. This feature is set to debut in 2026.

Forty-three percent of Brazilian consumers use the Pix instant payments platform daily, compared to 29% who rely on credit cards and 21% who use cash, according to the PYMNTS Intelligence and Galileo collaboration, “Promising Payments: Digital Payments Gain Ground in Latin America.”

The report also found that 82% of Pix users report the payment method has a positive impact on their daily lives and that Brazilian consumers also embrace digital banking, with 95% of consumer interactions with banks occurring through digital channels.

Pix was launched at the end of 2020 but quickly bloomed in popularity, in large part due to the instant payment platform’s simplicity and ease of use, according to the PYMNTS Intelligence and Kushki collaboration, “Digitizing Payments in Latin America Playbook.”

Pix is also set to add a recurring payments feature called Automatic Pix that will be able to be used as a payment method by companies of different sizes and in different sectors.

“For the paying user, Automatic Pix will bring even more convenience, offering a frictionless recurring payment alternative,” Brazil’s central bank said in July. “With prior authorization, given in the account’s secure environment by the access device itself (cell phone or computer), the user will allow periodic debit automatically, without the need for authentication for each transaction.”

“For the receiving user, Automatic Pix has the potential to increase efficiency, reduce the costs of collection features and reduce default,” the central bank added.

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