Central Bank plans to launch Automatic PIX in April 2024

The service will allow automatic recurring payments, such as energy bills, telephone bills, schools, gyms, condominiums, streaming services, insurance and subscription clubs.

For this, the user will have to grant a prior authorization. From there, payments will be made automatically, without the need for the customer to authenticate each transaction. Authorization can be done via the bank app, QR Code or Pix Copia e Cola. Authorization can be canceled at any time.

According to BC, Pix Automático will be made available to companies of any segment or size.

“The novelty will expand the range of alternatives available for companies of all types and segments to receive their recurring payments. Currently, automatic debit, for example, depends on bilateral agreements with multiple institutions, generating operational complexity and high costs, which restricts the service to large companies, generally public service providers. On the other hand, recurring credit card payments are not accessible to a relevant part of the population”, says a BC report.

Automatic Pix will be free for the payer. Companies will be charged upon receipt.

In addition, the payer will have the option, for example, of limiting the amount of the installment to be debited.

Timeline

The launch of Pix Automático was discussed on Monday (19) during the 19th Plenary Meeting of the Pix Forum, permanent advisory committee. According to the schedule, the forecast is to publish the service rules in September 2023, systems development from October this year to February 2024, testing in March 2024 and launch in April 2024.

The Central Bank has been working on the product since the end of 2021.