How Brazil’s Pix moves payments between institutions
The central bank’s system supports instant transfers through participating providers.
Pix is Brazil's instant payment arrangement. Customers use participating banks and payment institutions to send and receive funds. The Banco Central do Brasil oversees the rules and publishes information about which institutions participate.
Interoperability matters because the sender and recipient can use different providers. The common arrangement allows those providers to exchange payments while each keeps its own customer relationship. It is a different layer from the app a customer uses to initiate a transfer.