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The New Pix Feature Promises to Make Payments Even Faster and More Practical. Discover How Pix by Proximity Will Work and What to Expect from This Innovation in the Future!
The Pix has arrived to revolutionize the way we make payments and transfers in Brazil, and now, in yet another advancement, Banco do Brasil and Cielo are bringing a new functionality that promises to make life even easier for Brazilians: Pix by proximity. Let’s understand how this new Pix feature will work and what we can expect from it in the future!
How Does Pix by Proximity Work?
Launched by Banco do Brasil in partnership with Cielo, Pix by proximity is the latest evolution of this payment method that has already become a craze among Brazilians. At this moment, this new functionality is in the testing phase, meaning it is a pilot model, and is only available to a limited group of bank clients. These lucky account holders will be able to test the system at selected commercial establishments in the cities of São Paulo (SP) and Brasília (DF).
The expectation is that this feature will be available to all Banco do Brasil clients starting in November 2024. But how exactly will Pix by proximity work? Basically, it will offer two different paths depending on the purchase amount:
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- Purchases up to R$ 200: The process will be simple and quick. The customer will only need to open the bank’s app, select the “Pix by proximity” option, authenticate biometrically (using a fingerprint or facial recognition), or, if preferred, enter the app login password;
- Purchases above R$ 200: For higher amounts, in addition to the steps mentioned above, the account password, the same one used in traditional payment machines, will need to be entered. This process adds an extra level of security for higher value transactions.
Advantages of Pix by Proximity
The main advantage of Pix by proximity is undoubtedly practicality. Unlike the traditional method, which requires entering a Pix key or scanning a QR Code (which can take time in some situations), the new functionality will allow users to make payments simply by bringing their phone close to the payment terminal.
This technology is very similar to what already happens with debit and credit cards using proximity payment, which brings a degree of familiarity and ease for those who are already used to this type of payment. Pix by proximity also promises to be even faster than the current process, which depends on generating and scanning QR Codes. With this, the operation will be instantaneous, allowing transactions to occur without complications, especially for lower value purchases.
The Role of the Central Bank in Pix by Proximity
The Central Bank, which regulates the operation of Pix in Brazil, has big plans for the future of this technology. According to the institution, it is expected that Pix by proximity will be available nationwide by February 2025. This broader launch will allow anyone, regardless of the bank they use, to enjoy this practicality. Of course, each bank may implement its own step-by-step process, but the essence of the system will remain the same.
The Central Bank believes that this innovation will improve consumers’ experience and further expand the use of Pix in the country. After all, who doesn’t want an even faster and more convenient way to pay for their purchases?
Security in Pix by Proximity
Security is always an important concern when we talk about new payment technologies. With Pix by proximity, Banco do Brasil and the Central Bank guarantee that user protection remains a priority.
Biometric authentication, which is part of the process for purchases up to R$ 200, adds an extra layer of security. For transactions above this amount, the requirement to enter the account password provides an additional barrier, preventing anyone who has access to the phone from carrying out unauthorized transactions.
It is important to emphasize that, even with these security measures, the customer should always check the purchase amount on the payment terminal before making any payment. This care is essential to ensure that there are no errors or incorrect charges during the transaction.
A New Step in the Evolution of Payment Methods
Pix is already a success in Brazil, and Pix by proximity is just another step in the evolution of this tool. Since its launch, this payment method has established itself as one of the most practical and quickest ways to move money, whether to pay a bill at a restaurant or to split the rent. Now, with this new feature, the expectation is that Pix will become even more common in the daily lives of Brazilians.
In addition to Pix by proximity, the Central Bank has plans to continue enhancing Pix with new features. Among them, improvements in areas such as security, ease of use, and integration with other technologies are expected. The idea is for Pix to remain a robust and reliable platform, always ahead of innovations in the financial sector.
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