Pix Expected to Capture Half of Brazil's E-Commerce by 2028; Central Bank Operates and Regulates the System

By 2028, Pix, Brazil's instant-payment system operated and regulated by the central bank, is forecast to account for about 50% of the country's e-commerce transactions, outpacing credit cards, according to a study by Ebanx. The system, launched in 2020, is experiencing rapid adoption. Last year, the system also drew regulatory scrutiny in the U.S. over potential unfair trade practices, questioning the central bank's dual role as operator and regulator.