Iniciador launches the first recurrence feature on Pix

Iniciador, a payments infrastructure and Open Finance data-sharing company, unveiled at Febraban Tech 2024 the first recurrence solution built on the Pix scheme: Pix Recorrente. The feature lets users schedule up to 60 fixed-value transactions with a single authorization in the payer's banking app.

This new Pix modality is a cheaper alternative to Card-on-File and bank slips (boletos), and promises higher conversion on future payments by removing the "forgot to pay" factor and automating collection. Beyond use inside banking apps, Pix Recorrente is expected to become a permanent option for:

• Fixed-value bill collection
• Installments on financial products
• Scheduled investments
• Subscription services
• Tuition for digital products and platforms

Pix Recorrente has the potential to become a consumer favorite for recurring payments — making spending habits easier through automated billing and giving users visibility into upcoming charges in their bank account. The feature arrives as an essential addition to any payment provider's product portfolio.

Powered by Open Finance's banking integration standard, the new Pix modality is bank-agnostic and supports scheduling across all institutions that are mandatory participants of the Pix scheme — every major bank and the new entrants. The Iniciador platform handles the regulated connections to every participating institution, acting as a gateway that delivers a single, simple, practical integration — and extends the feature to companies that aren't licensed by the Brazilian Central Bank or aren't Pix scheme participants.

Unlike traditional Pix, the receiver in Pix Recorrente is immediately notified whenever payments are scheduled, settled, or rejected — whether due to insufficient funds, Pix limits, or cancellation. That makes the solution ideal for platforms and marketplaces, which can now offer the feature to third-party receivers with the certainty of knowing when a transaction is complete and the ability to handle potential rejections.

What is Pix Recorrente?

Pix Recorrente (or Pix Agendado) is a recurrence solution built on Pix. It lets companies and individuals receive scheduled fixed-value payments, reducing default rates and the costs tied to other payment methods. Pix Recorrente supports scheduling up to 60 simultaneous payments over a 24-month window. With Pix Recorrente, billing efficiency and cost savings are guaranteed.

Benefits of Pix Recorrente

1. Automatic receivables: Receive recurring Pix payments automatically, with no need for repeated authorizations.
2. Lower default rates: Cut down on missed payments caused by forgetfulness, keeping customers up to date.
3. Transaction cost savings: On average, 40% cheaper than bank slips and 80% cheaper than credit cards.
4. Higher consumption: Drive more product usage through recurring debits, increasing customer engagement and easing buying habits.

Try Pix Recorrente

On the Iniciador site, you can experience Pix Recorrente while doing a good deed. Schedule donations to charities and see how easy and efficient recurring payments can be. Click here to get started.

Iniciador's role in Open Finance

Iniciador provides infrastructure that makes it easier to build innovative products with the new toolkit Open Finance has unlocked — and to meet the regulatory requirements that come with it. Our platform enables Pix payments from any account to any account, with settlement notifications, plus real-time bank data-sharing integrations.

Iniciador's client portfolio spans every type of company and segment, from PSPs and financial managers to institutions regulated by the Brazilian Central Bank, including Account Holders and ITPs. Our commitment is to innovation and to democratizing access to efficient, secure financial solutions.

Growth and investment in Open Finance

According to the Brazilian Federation of Banks (Febraban), institutions have invested more than R$ 2 billion in the Open Finance program. As of July 2024, more than 46 million active data-sharing consents had been registered — a growth of more than 100% year over year. These numbers reflect Open Finance's significant impact and transformative potential in Brazil.

Pix Recorrente is one more important step in the evolution of the Pix scheme, already used by 75% of the population. Banking interoperability is driving a new wave of transformation in financial services, where it's already possible to view and move funds across bank accounts from third-party interfaces. Iniciador remains at the forefront of that revolution, actively shaping the new Open Finance standards and committed to promoting a more efficient, accessible, and inclusive economy.

To learn more about Pix Recorrente and how to implement it in your business, visit our page.