A transition regime was established by BCB Resolution 293/2022 to regularize any outsourcing within the scope of Pix that violates article 90-A of Brazil’s Pix Regulation (Regulamento do Pix).
To be eligible for the transition regime, the third party must:
- Have a contract with a Pix participant before December 01, 2022;
- Submit a request to adhere to Pix by May 31, 2023;
- Be an issuer of electronic money that does not yet meet the authorization criteria to operate, or whose authorization process is in progress, or be an authorized institution, holder of a transactional account, that is not a Pix participant;
Institutions with requests for Pix Adhesion pending analysis by the Central Bank of Brazil (Banco Central do Brasil/Bacen) that are included in the transition regime must resubmit a duly updated form.
During the transition regime, the responsible participant must ensure the institution’s correct performance in the adhesion process so as to guarantee the security, efficiency, reliability, integrity, secrecy and quality of the payment service.