The Brazilian Central Bank has officially launched the highly anticipated Pix Proximity Payment System, effective February 28, 2025. This new feature allows users to conduct instant payments simply by bringing their mobile devices close to enabled point-of-sale (POS) machines, enhancing the convenience of transactions similar to the contactless payments achieved with credit and debit cards.
This innovative step is set to transform the payment experience for millions of Brazilians, as it operates on the Near Field Communication (NFC) technology, which is already familiar to many consumers through their use of chip cards. According to the Central Bank, this move aims to make payments faster and more secure by virtually eliminating the risks associated with scanning QR codes or entering lengthy payment keys.
Initially, the maximum transaction limit for the Pix Proximity system is set at R$500, which can be adjusted by the user via their digital wallet application. Users must link their bank accounts to digital wallets like Google Pay, which is the only payment initiation service presently registered with the Central Bank. According to reports from Agência Brasil, Apple Pay and Samsung Pay are not yet integrated, which means the new feature is exclusively available to Android users at this time.
To complete transactions through the Pix Proximity system, users will need to enable this functionality within their banking app and wallet. Users will find the process familiar; after linking their bank account, they can simply choose the Pix payment option, confirm the transaction details, and tap their smartphone against the POS terminal. The Central Bank emphasizes the importance of this system as it continues to evolve the digital payment framework established by the Pix platform, which already enjoys broad acceptance, with approximately 76.4% of the Brazilian population relying on it as their payment method of choice.
Murilo Rabusky, Director of Business at Lina Open X, expressed optimism about the new functionality, stating, “The expectation is this new resource will simplify transactions even more, boosting both physical and online commerce and increasing competitiveness among payment methods.” With the potential for expanded usability, Rabusky noted this technology's impact on various scenarios, from public transport payments to purchases at large events, where transaction speeds and efficiency are often at stake.
After the introduction of Pix Proximity, users can look forward to even more advancements with the Pix system. Developments planned for later this year include improvements to the process of paying bills via Pix, allowing users to scan designated QR codes directly from invoices. This would facilitate immediate payment processing, enhancing user convenience. Rabusky pointed out, “With the automatic Pix feature, regular payments can be programed, ensuring your subscription services are accurately charged, reducing manual payment selections.”
Retailers stand to gain from adopting the Pix Proximity system as well. The Central Bank believes this method offers merchants lower transaction costs compared to traditional card payment processing fees. For customers with disabilities or other access needs, the new system provides a streamlined approach to secure payments without unnecessary complexity.
The new approach aims to strengthen Brazil’s position as a leader in digital financial technology, moving toward fully integrated payment solutions within the Open Finance framework. There are expectations of partnerships with additional financial institutions to expand the availability of this innovative payment experience.
This advance echoes trends seen globally, as contactless payment solutions become increasingly predominant amid changing consumer behaviors post-pandemic. The Central Bank of Brazil hopes to keep pace with these global trends, ensuring their payment systems remain competitive.
Given this significant development opportunity, varying stakeholders - from consumers to businesses to the financial institutions themselves - will need to adapt to the growing significance of the Pix Proximity Payment System. The ultimate goal is to put Brazil at the forefront of digital financial innovation, making transactions not only easier but also uniquely integrated within the broader economic framework.