Bix Guaranteed: Goodbye Credit Cards? Payment method in installments via Pix advances

The central bank is advancing the development of “Pix Garantido”, a new method that will allow purchases to be paid for in installments through the Pix payment system. This innovation could be an alternative to the popular credit card installments, especially for higher-value products.

While there are no full details yet about Pix Garantido, nor information about potential interest charges, the central bank reported that the method is on Pix’s development agenda, but has not yet been launched and does not have a launch date.

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Banks have already offered Pix in installments.

Some financial institutions have already come forward and offer the option of paying Pix in installments as a credit transaction. However, this type of method is subject to the rules of each institution.

As for Pix Garantido, the Brazilian Banking Association (Febraban) has highlighted that, unlike a credit card, the customer will need to have funds in his current account to use this option. If the customer does not have enough funds in the account to pay the installments, he can use his overdraft limit, taking into account the interest.

The Central Bank is also preparing to launch new methods: Automatic PIX and Recurring Scheduled PIX. These methods will allow you to schedule debit operations and are similar to Pix Garantido. If there are no funds in the account on the due date, notifications will be sent and new payment attempts will be made.

via G1