Pix turns 4: meet the 6 new types of payments

Pix, the Brazilian Central Bank's instant payments scheme, turns 4 on November 16. In 2024, it has already moved more than R$ 29 billion in financial transactions — and in September, it broke 227 million transactions in a single 24-hour window, cementing its status as the country's leading digital payment method. The launch of Open Finance Brasil has accelerated the evolution agenda, standardizing communication between banks and clearing the way for new features that are already reshaping the dynamics of the Brazilian banking system.

For Gustavo Bresler, COO at fintech Iniciador, the new payment options may look similar at first glance, but they vary in behavior and purpose. "Pix already changed how Brazilians pay day to day. Now it's also going to change how we relate to our banks. Beyond speed, the new features enable account integration, automation, flexibility, and even payment approval via mobile biometrics," he says.

Bresler — who has been part of the Open Finance User Experience Working Group since 2021 — listed the 6 new types of Pix, with their applications, advantages, and limitations. Here are the models:

Pix - Pay with App

Known as Pix via Open Finance, it delivers an even faster and simpler online payment experience. Instead of copying and pasting codes or scanning QR codes, the user can pay directly on the site or app they're browsing, getting redirected to the bank's app only to approve the transaction. The process is up to 50% faster than traditional methods, with instant notifications to the receiver on approval, rejection, or cancellation.

Applications include: online checkouts, in-app payments, billing and payment links, and conversational payments. You can try it here.

Pix Recorrente

Pix Recorrente — also known as Recurring Schedules or Programmed Pix — went live in April. It lets users automate fixed-value payments across up to 60 dates, up to two years in advance, with a single authorization. All details can be pre-configured by the user. The feature removes the risk of forgetting payments and reduces default rates, while offering transaction costs lower than bank slips and credit cards. The receiver also gets real-time notifications on schedules, completed payments, cancellations, or rejections. The method still has limitations, though: variable-value payments aren't supported, and merchants need to handle cancellations and rejections.

Applications include: recurring billing, tuition fees, subscriptions, scheduled investments, and periodic expenses. You can try it here.

Pix Automático

This one enables automatic Pix debits — ideal for recurring payments of fixed or variable amounts. The receiver can define the recurrence period, the maximum payment cap, and the authorization's expiration date, and can also retry payments for up to 7 days after the settlement date. Pix Automático benefits both sides: convenience and control for the payer, plus cash flow predictability and lower default rates for the receiver. The receiving account must be a business (PJ) account, and recurring payments are scheduled 2 to 10 days in advance.

Applications include: recurring billing, bill payments, installment plans, subscriptions, and tuition fees.

Pix por Biometria

With availability planned for November 2024 — and gradual rollout through February 2025 — the method previously known as Jornada Sem Redirecionamento (No-Redirect Journey) simplifies the online payment authorization process. The user can confirm the transaction directly in a third-party interface using their phone's biometrics, getting redirected to the bank's app only at enrollment, where they can also set a maximum payment limit. The experience resembles "1-Click Buy" — but with the instant settlement of Pix and security guaranteed by the international FIDO2 standard, the strong-authentication standard used by the world's largest tech companies.

Applications include: payment service providers, digital wallets, marketplaces, in-app payments, and conversational payments.

Pix por Aproximação

Also expected for February next year, this model builds on the No-Redirect Journey to let digital wallets add Pix as a contactless payment method on NFC-enabled POS terminals, similar to contactless cards. It offers users convenience and familiarity, while reducing merchant costs through instant settlement and fewer intermediary fees. Regulation for POS providers is in progress, and initial availability may be limited to institutions and acquirers offering the service in closed systems.

Applications include: point-of-sale (POS) payments, digital wallets, and in-person transactions.

Pix Inteligente

Launched this year, Pix Inteligente represents the biggest revolution in the Brazilian payments system since Pix itself. Also known as Smart Transfers, this type of Pix allows users to set rules to automate instant transactions between accounts under the same ownership. It opens the door to event-driven transactions — like detecting a negative balance in one account and automatically pulling funds from another to cover an overdraft. The feature changes how users relate to their banking apps, letting them integrate all their accounts into a single app. For now, transfers are limited to same-owner accounts, but the scope is expected to expand to registered beneficiaries.

Applications include: smart financial management (personal and business), automatic overdraft coverage, smart investing (yield maximization and automated investments), payment assistants, and even credit card alternatives.

For Bresler, this newest Open Finance technology creates a competitive landscape in a category that had none — overdrafts. "Take overdraft coverage as an example: any financial management app could offer its customer an account with a pre-approved credit line that automatically covers negative balances in competitors' accounts, creating its own decoupled overdraft for all of the customer's accounts. The result of this 'portability': significantly lower interest rates and real choice for the consumer."

About Iniciador

Founded in December 2021, Iniciador is a financial platform that gives any company access to Open Finance — without worrying about technology or regulation.