Since its launch in 2020, Pix has revolutionized the Brazilian payment landscape, consistently evolving with new functionalities. The Central Bank is set to introduce even more enhancements, including automatic debits and contactless payment capabilities.

Four key features are scheduled for release: two in 2024 and another two in 2025. Additional enhancements are also on the horizon but lack specific release dates.

Recurring Pix payments

Currently, users can schedule Pix payments for specific dates. From October 28, 2024, banks will enable users to schedule recurring payments. This feature will cater to both individuals and businesses, simplifying monthly payments for services like gym memberships and school fees, providing an efficient billing solution.

Lower payment limits on unregistered devices

Starting November 1, 2024, new regulations will limit the transaction amounts for Pix payments on previously unregistered devices. The maximum transaction value will be R$200 per Pix, with a daily cap of R$1,000. To lift these limits, users will need to register their devices with their bank, involving security measures such as biometric identification, SMS or WhatsApp codes, and geolocation checks.

Contactless Pix payments

Much like Apple Pay, Samsung Pay, or Google Pay, Pix will soon support contactless payments, allowing users to tap their authenticated phones to make payments. Set for a February 2025 release, with testing beginning in November, this feature will simplify transactions using the phone's digital wallet, typically secured with facial recognition or fingerprint authentication.

Automatic Pix payments

Expected in June 2025, Automatic Pix will function similarly to traditional automatic debit systems, facilitating recurring payments like utility bills and subscription services. This feature will streamline processes by eliminating the need for businesses to set up agreements with individual banks, thus broadening access for fintech companies. Payments will only process if there are sufficient funds, with retry options available for failed transactions.

Future Pix enhancements

Several additional features are in development, although their release dates remain undetermined:

International Pix: enabling cross-border transfers.

Recently, Beeteller took Pix technology to Argentina and Paraguay, bringing more convenience and security to tourists and traders.

The innovation came to facilitate travel for Brazilians and sales for merchants from foreign countries. The instant method promises to simplify transactions and reduce operational costs, offering an efficient and economical alternative to traditional payment methods.

Offline Pix: Allowing transactions without an internet-connected smartphone, using QR codes for verification.

Guaranteed Pix: Offering installment payment options similar to credit cards, providing guaranteed payment to merchants.

Detailed implementation timeline

The Central Bank and the National Monetary Council have outlined a timeline for contactless Pix payments:

July 31, 2024: Specific regulations for the Journey of Payments Without Redirection (JSR) will be published. November 14, 2024: Financial institutions will begin testing to ensure security and functionality. February 28, 2025: Public release of contactless Pix payments.

These new open finance regulations aim to streamline online payment processes, integrating Pix into digital wallets. Institutions with more than 5 million customers must join open finance, expanding the potential user base from 75% to 95%.