The Central Bank of Brazil (BC) introduced a new payment method via PIX, called PIX Automático, designed for recurring payments. This initiative aims to modernize and simplify payments for services such as utilities, school fees, and digital subscriptions.
The PIX Automático will function as a more flexible alternative to traditional automatic debit. It allows customers to authorize recurring charges for services, with the option to set maximum transaction amounts and control the use of overdraft facilities. Payments will be processed automatically on the agreed-upon due dates, whether weekly, monthly, quarterly, or annually.
Customers will receive notifications via their bank's app when a company requests authorization to initiate an automatic debit. Payments can be accepted, rejected, or limited according to the user's preferences. The system also allows for cancellation at any time through the financial institution's application.
According to the Central Bank, the new tool should streamline payment routines for Brazilians, reduce operational costs for companies, and decrease delinquency. The PIX Automático also facilitates transactions for small businesses by eliminating the need for specific agreements between banks and companies.
The system will be available on any day of the week, including holidays and weekends, unlike automatic debit, which is usually limited to business days. The use of PIX Automático will be free for individuals, while receiving companies may be charged fees based on each bank's policy.
If a customer does not have sufficient funds in their account on the scheduled date, the bank will send a notification and provide the user with the opportunity to regularize the amount or adjust the limit on the same day. The Central Bank emphasizes that PIX Automático follows the same security standards as other PIX transactions, including encryption, two-factor authentication, and transaction traceability.
The customer's authorization is mandatory and can be canceled at any time. This innovation marks another advancement in Brazil's instant payment system, which already processes billions of reais daily and is becoming one of the most significant recent innovations in the national banking sector.