Pix is ​​growing in e-commerce and experts predict an increase in the use of resources with Open Finance

The data shows that the number of transactions in September this year increased by 225% compared to the same period in 2021.

Marcello Casal Jr/Agência Brasil
Pix is ​​a payment method created by the Central Bank in which funds are transferred between accounts in seconds, at any time or day

use pix as a means of payment between people and companies, especially merchants, is growing every day in Brazil. According to Central Bank (BC), the number of transactions in September this year increased by 225% compared to the same period in 2021. It jumped from 130 million to 430 million. However, the value of transactions grew less, which represents the largest share of low-value purchases. Nevertheless, the total almost doubled during the same period, going from R$48.9 billion to R$91.7 billion. In total this year, until September, the amount paid by Pix between people and companies reaches R$ 680 billion. The product manager responsible for Pix at Gestoranet, Francisco Carvalho, says that Pix was quickly adopted and had three important moments for such growth. “In the first one, we saw that Pix was widely accepted by the population, who quickly realized its advantages. In this way, there was an accelerated growth of Pix P2P transactions, i.e. between physical persons”, he begins. At another point, he comments that companies have also started using Pix. “There has been an increase in P2B payments, that is, physical purchases in physical and digital retail,” he explains. “The third moment happens now and leverages the use of Pix through another major innovation: Open finance. I believe the inclusion of Pix as the first way to receive payments in Open Finance will further expand its use in commercial transactions, because the payer’s journey will be even faster. With Pix through Open Finance, the payer will not have to leave the purchasing environment to access their bank’s application, making the process even simpler. I see that the integration of these two tools will be very positive for entrepreneurs and payers”, he adds.

Created in 2020, Pix “ended” bank transfers via DOC and TED and now he shows that he intends to “finish” the payment with a bank confirmation in e-commerce. Marketers see Pix as a “dream boy”. This is because instant payment can increase e-commerce sales and reduce abandonment. Investmart XP head of the distribution department at the headquarters Rio de Janeiro and Minas Gerais, economist Daniel Amaro, says that Pix is ​​an attractive tool for retail because there is no cost to individuals, and that it is an instant operation that takes place in the same second. “We noticed that it is an easy access operation where only one key is needed to authorize the operations. Today in Brazil we have many informal workers. Therefore, Pix alleviates these operational costs of the machines and facilitates the flow of reception”, says the economist. According to Brazilian Electronic Commerce Association (ABComm), slip payments are not made 50% of the time. Another poll, from ayen, points out that 52% of consumers in Brazil abandoned a purchase because they did not have the payment option they wanted. “Pix helps with inventory management, as when buying by bank statement the customer has up to 72 hours to pay, while the Pix code expires in around 30 minutes if payment is not made. This prevents the merchant from setting aside a purchase that may not have been made,” adds Daniel Amaro.

At Forster Nutrition, an online food supplement store, Pix was introduced in March of this year. According to one of the owners, Gustavo Machado, sales have increased by around 25% since Pix was introduced as a payment method. “It’s nice because consumers sometimes worry about paying on a website they’ve never bought from and having to put in all their information. With Pix, they do not have to put the name of the card and the security code. Make it more practical. Today’s consumer, the faster he makes a purchase and the less data he enters, the better his experience. It is an advantage for us that we get it on time. Boleto, that delay for compensation, is avoided when the client says he has paid and the bank does not compensate. We also avoid abusive credit card fees, online sales. Sometimes a consumer buys with a card and wants to cancel, and for that we have to call the card operator or the payment platform. At Pix, if he wants to cancel, we only refund the amount. Simple,” he commented.

As for the individuals who use Pix, Daniel Amaro says that older people tend to be less likely to stick with the tool on a daily basis. He points out that only 4.1% of Pix transactions are made by this audience and explains that the reason for this is the difficulty in learning to use the payment method. “Because it is a new technology, there is still skepticism for this class. People who don’t use Pix in their daily lives are hostage to the monetization of TEDs/DOCs, which becomes unsustainable in the long term,” he explains. According to economists, adults between the ages of 30 and 39 are currently the most successful with 30.2 percent of transactions.

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