After years of discussion with the market and society, the Central Bank established the PIX, an instant payment arrangement that promises agility, security and flexibility in electronic fund transfers. The draft regulation - now submitted to public consultation - is the result of all this work, enabling the creation of a payment arrangement with all the characteristics that the PIX has.
The following are available for consultation by interested parties: (i) the operation of PIX; (ii) the rules of use of the PIX brand; (iii) the types of participants admitted and the participation requirements; (iv) the transaction authorization process; (v) their maximum times; (vi) the settlement process; the risks and risk management mechanisms; the governance of PIX; (vii) the penalty framework; (viii) the fee structure; and (ix) the general rules for the end-user payment experience.
Technical contributions should be made through a specific form, until May 18, 2020.
The full notice can be found here.
For further information, the Payment team of our office([email protected]) is at your disposal.
