It’s not just the bank that wins with Pix, but the whole society, says BC director – 11/19/2020


A lot of people are suspicious of Pix, because banks are doing a lot of advertising. What would be their interest? Pix benefits everyone, including banks, said João Manoel de Mello, director of the Financial System Organization and Resolution of the BC (Central Bank).

In an interview with Twitter, Mello said that transactions through the system that started operating 100% this week are as secure as others operated by BC, such as DOC, TED, debit or credit. The director also stated that the IRS cannot eavesdrop on transfers without a court order and that Pix will not encourage lightning hijackings, because there is normally no transfer to accounts in this type of crime.

The BC director also spoke about the expectation of new Pix features that should be inaugurated in the coming years. These include cash withdrawal directly from retail and the possibility of scheduling payments guaranteed by a financial institution.

Banks also benefit, says director

With the inauguration of Pix, the tendency is for banks to make fewer and fewer transfers via TED or DOC, and for banks to stop collecting the fees charged for these services.

Even so, according to João Manoel de Mello, financial institutions win, because they save with the handling of cash that no longer circulates. “The estimates of banks and cooperatives are that close to R $ 10 billion per year are spent on handling physical money,” he said.

In addition, financial institutions would benefit from people in the digital transfer system.

According to the director, in three days of operation, there are 5.2 million operations settled via Pix, totaling R $ 4.6 billion transferred by the system. The BC estimates 32 million registered individuals and almost 2 million companies.

Cost for financial institutions

“We made a non-profit platform, charging the minimum necessary to pay for the system,” said the director.

“The bank that receives a Pix pays a tenth of a cent of real to the BC. It is basically dispersible”. The purpose of charging, according to Mello, is only to reimburse the operating costs of the system.

Security equal to or better than other means

João Manoel de Mello said that the security of transfers via Pix is ​​equal to or better than those that are already operated under the regulation of the BC – among them payments by credit and debit card, in addition to transfers by TED or DOC.

The director stated that it is up to the user to adopt general security measures to avoid scams, such as not clicking on unreliable links and not sharing the password – precautions that are necessary on a daily basis, regardless of the payment method adopted.

For Mello, Pix can be even more secure than other means because it happens only with authentication by the applications of banks, fintechs and credit unions. “There is no environment more secure than the one logged on the cell phone.”

In general, Pix also offers security because it encourages people to carry less cash with them. “Violent crimes, like lightning kidnapping, are not perpetrated by bank transfer,” said the BC director.

Returning money to victims

Mello said that the system identifies the pattern of transfers made by the user, with the aim of identifying strange movements. If a scammer succeeds in making a criminal payment that deviates from the standard, the system would be able to refuse the transfer for security reasons.

Still, if the scammer manages to pass all barriers, Mello guaranteed that there is a procedure to compensate the victim of the fraud.

Bank secrecy

According to the BC director, there is no chance that the IRS will access the transfer data without judicial authorization. “Like current transfers, they [as transferências via Pix] are all protected by Complementary Law number 105 [de 2001], bank secrecy. “

Retail withdrawal and guaranteed Pix

João Manoel de Mello spoke about the plan to bring new features to Pix in the coming years.

One of them would be the withdrawal in retail establishments. “Imagine in the cities where there is no ATM, the convenience of making a purchase of R $ 100, paying R $ 150 and taking R $ 50 in change,” he said.

Another expected novelty is the guaranteed Pix. The idea is that the user can schedule irrevocable payments that will be protected against default by a financial institution.

“The speed of entry of these features depends on the partnership with the private sector, which needs to be able to adopt them safely,” stated the BC director.

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