Brazil’s Central Bank launched Pix in November 2020. Three years later it became the most used payment method in the country – not the trendiest, not the most hyped. The most used. And yet most fintech operators outside Latin America still treat it as a local curiosity.
That’s the wrong read. Pix settles transfers in seconds, runs 24/7, is free for individuals, and costs merchants a fraction of what card networks charge. By 2023 it already held 16% of Brazilian e-commerce transactions, with a projected 26% CAGR through 2026. The gap between Pix and cards is closing every quarter.
But Pix is only one piece of a larger shift. Brazil’s Open Finance framework – one of the most advanced globally – layers intelligence on top of Pix’s transaction rails. Together they form the backbone of a genuinely modern financial system. For any business operating in Brazil, a payment strategy that ignores this infrastructure is already behind.
The rest of Latin America is watching closely. Colombia, Mexico, and Chile are each building their own real-time payment systems. The playbook is being written right now.
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