Brazil’s revolutionary Pix instant payment platform is set to receive a major upgrade with the introduction of installment payments, further solidifying its dominance in the country’s payments landscape. The central bank announced that “Pix Parcelado” will launch in September, allowing consumers to split purchases into installments while merchants still receive full payment immediately.
The new feature comes as Pix continues its remarkable adoption curve since its 2020 debut, having already become Brazil’s most popular payment method. This enhancement follows last month’s addition of contactless functionality, which enabled tap-to-pay transactions by linking digital wallets to bank accounts through Open Finance APIs.
In parallel developments, Brazil’s central bank has released findings from the initial phase of its digital currency (CBDC) pilot program. The first stage focused on testing privacy features and programmability through a delivery-versus-payment protocol for federal government bonds between clients of different institutions.
The CBDC project now enters a more ambitious second phase, with 13 financial institutions testing real-world applications including vehicle purchases powered by smart contracts. “The pilot has proven technologically challenging,” acknowledged the central bank, noting that the current phase “will require more intensive monitoring than anticipated.”
These simultaneous advancements position Brazil at the forefront of payment innovation, with Pix‘s new installment option likely to accelerate its displacement of traditional credit cards. The CBDC experiments meanwhile demonstrate the central bank’s commitment to exploring blockchain-based solutions for complex financial transactions.