Central Bank launches Automatic Pix for recurring payments on the 16th
The Central Bank (BC) announced, last Wednesday (4), at an event held in São Paulo, Automatic Pix, a new feature of the instant payments system. Starting June 16, Brazilians will be able to use the feature to make automatic payments for recurring bills, such as electricity, water, telephone, school fees, gym memberships, health plans, insurance, condominiums and subscriptions.
The aim of Automatic Pix is to increase practicality and modernize the payment experience in the country, offering a simpler and more accessible alternative to traditional automatic debit, which currently depends on specific agreements between banks and companies.
During the event, called “Pix Connection”, the president of the Central Bank, Gabriel Galípolo, and directors Renato Gomes (Financial System Organization and Resolution) and Gilneu Vivan (Regulation) highlighted the benefits of the new tool for both consumers and companies. Representatives from Zetta, a partner organization in organizing the meeting, also participated.
How does Automatic Pix work?
It works simply and follows the same security standards as traditional Pix. The consumer makes a one-time authorization, establishing conditions such as maximum amount, frequency and, if desired, use of a credit line.
After this authorization, the company sends the charges directly to the payer’s bank a few days before the due date. The customer receives a notification in their account app, and can monitor, pause or cancel payments whenever they wish. On the agreed date, the amount is automatically debited, within the defined parameters.
If there is any problem, the user can activate the Special Return Mechanism (MED), ensuring greater security in transactions.
Benefits for consumers and businesses
The Central Bank highlights that Automatic Pix will bring more convenience and control to users, allowing them to manage all charges in the banking app itself, without the need to make manual payments each month.
Among the main benefits for those who pay are:
- Ease and convenience, with automatic payments;
- Complete management in the bank app, with the possibility of reviewing, suspending or canceling charges;
- Greater security and control, with definition of limits and parameters;
- Expanded access, with the possibility of using the service in several financial institutions, including banks, cooperatives and payment initiators.
For companies and service providers, the new functionality also promises important advantages:
- Increase in the customer base, considering the more than 160 million Pix users;
- Lower operating costs, without the need for specific agreements with multiple banks;
- Reduction in default, since automatic payment reduces delays and forgetfulness;
- Financial inclusion, reaching customers who do not use credit cards or bank slips.
The future of payments
During the event panels, experts discussed topics such as “How Automatic Pix can help your business” and “Inside Automatic Pix – the revolution in recurring payments”, in addition to practical demonstrations of the new tool.
The Central Bank reinforces that Automatic Pix represents another step in the evolution of the Brazilian financial system, which is consolidating itself as a world reference in innovation, inclusion and digitalization of payment methods.
