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Disputed by Politicians and Attacked by Foreign Interests, the Brazilian Payment System Has a Technical Origin and a Discreet Creator. Get to Know the Story Behind the Technical Project of the Central Bank That Revolutionized Brazil.
Amid a recent controversy, President Lula’s response to Donald Trump was emphatic: “The Pix is ours, my friend”. The statement sheds light on the ongoing dispute over the paternity of the system, which Jair Bolsonaro has also claimed. However, the truth is that the Pix does not belong to any specific mandate. It is, in fact, a state policy, conceived and implemented by the technical staff of the Central Bank of Brazil (BCB) to serve millions of Brazilians.
The True Origin of Pix: A Technical Project of the Central Bank
The creation of the Pix system is, at its core, a purely technical project. Its conception began in 2018, during Michel Temer’s government, and was entirely led by career employees of the Central Bank.
Although its official launch took place in November 2020, during Jair Bolsonaro’s administration, its structure had already been designed much earlier. The project was born with clear objectives: to increase financial inclusion, reduce banking costs, and stimulate competition in the national financial system.
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24 m² house where a cleaning lady raised 3 children was loaned to shelter a pregnant young woman and returned destroyed; in 50 days, an architect changed everything, expanded the space, created ventilation, and returned to Vânia the dignified home she had waited for years.
Who is the ‘Father of Pix’? Get to Know the Creator of the System
The person behind the technical leadership of the project is economist Carlos Eduardo Brandt, a career employee of the BCB, who became known as the “father of Pix”. He led the team from the beginning, with the mission of structuring a tool that would allow fast, secure, cheap, and universal financial transfers.
His work was crucial in coordinating the technical stages, negotiating the adoption of banks and fintechs, and communicating the enormous benefits of the innovation to the population.
The Continuity of the Project: A Tool That Transcends Governments
The strength of Pix lies in being a state policy, rather than a government one. Proof of this is its continued trajectory: the conception began with Temer, the launch occurred with Bolsonaro, and its enhancement continues under Lula’s government.
Carlos Eduardo Brandt remains in leadership positions at the Central Bank. Currently, he leads strategic projects for the evolution of the system, such as the Automatic Pix for recurring payments and the awaited International Pix.
Trump Attacks and the Defense of Brazilian Sovereignty over Pix
Recently, Donald Trump targeted the Brazilian system by initiating a trade investigation. He accuses the country of “unfair” practices, claiming that the Pix has harmed American companies like Visa, Mastercard, and Apple Pay.
Lula’s response was supported by a strong popular mobilization on social media, with hashtags such as #DefendThePix and #SovereignBrazil. The Brazilian government chose to ignore the gesture, reinforcing national sovereignty over the payment system.
International Recognition and the Undeniable Success of Pix
The impact of the Pix has already received global recognition. The International Monetary Fund (IMF) praised the system, classifying it as “the most successful financial inclusion policy in Latin America”.
The numbers speak for themselves: the Pix already accounts for almost half of all electronic transactions in Brazil. Its essence, as its creators argue, remains the same: to be a universal, cheap, and secure tool, designed to serve the country as a state policy.
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