Pix - statistics & facts
Pix is one of Brazil's main digital payment methods and quickly grew to prominence in the Latin American country. Experts see it as one of two success stories in instant payments - payments that are processed nearly instantaneously, often referred to as real-time payments or RTP - alongside UPI in India. Pix stands out due to its meteoric rise after its launch in November 2020: By mid-2023, the payment method boasted more than 150 million users - private individuals and companies. Transactions, consequently, grew as well. The transaction value of Pix payments was 110 percent higher in 2022 than in the year before, nearly 11 trillion Brazilian reals - or roughly 2.1 trillion U.S. dollars. Registered users Pix in Brazil used the instant payment method almost twice as much in January 2023 compared to January 2022. The real-time payment option made up roughly 18 transactions per registered user. Why is Pix growing so fast in Brazil? What lessons can other countries, in Latin America or elsewhere, draw from this?
