The Brazilian Central Bank (BCB) has announced plans to introduce a buy now, pay later (BNPL) feature for Pix.
Called Pix Parcelado, the new option will work similarly to other BNPL services that have had significant success in Europe, enabling merchants to receive full payment upfront while allowing customers to spread their payments over time.
According to the BCB, the new feature will launch in September and has the “potential to boost Pix usage in retail for higher-value purchases.”
Since its debut in 2020, Pix adoption has soared across Brazil. Today, around 80% of Brazilian adults use the instant payment system, with more than 150 million active business and consumer accounts as of December 2023.
While usage continues to grow, debit and credit cards still hold a significant share of the market. However, this new feature positions Pix to compete even more directly with traditional payment methods, by adding a capability that, until now, was exclusive to cards.
The BCB has emphasised that this new feature will be especially beneficial for those without access to traditional credit options. Inclusivity has always been a driving force behind the development of Pix, with the goal of serving Brazil’s large underbanked population.
In addition to this new feature, the bank has also announced plans for another innovation, which will launch in 2026. This upcoming feature will allow future Pix receivables to be used as collateral for credit operations.
Global recognition
Pix’s popularity has not gone unnoticed in other countries. Spain and Portugal now allow tourists to use Pix while visiting, and Italy signed a bilateral agreement with the BCB last year.
Pix has also garnered significant praise from the gambling industry, with stakeholders gathering at the SBC Summit Rio earlier this year to discuss its impact.
During one of the panels, Leonardo Chaves, Country Manager – Brazil at OKTO, said: “Brazil is very lucky to have Pix, not many countries are lucky enough to have this.”
Despite this growing interest and praise for the payment method, Europe appears unlikely to follow in Brazil’s footsteps.
Credit and debit card transactions continue to rise across the continent. Although financial regulators in the UK have expressed a desire for more competition in the payments sector, Visa and Mastercard‘s dominance remains firmly intact.
However, as Pix continues to evolve and offer benefits typically associated with cards, Western consumers and merchants may become more open to exploring new alternatives.
