Open Banking: Find out how to integrate Phase 3 into PIX | open banking

The third step of open banking, the financial data sharing system that he oversees central bank, will allow users pix Pay through non-banking apps like retailers and social media.

With this, the customer will be able to authorize an institution to initiate payment in his/her name, and a bank correspondent can send a credit proposal to the preferred bank.

BC expectation is that Increasing competition between financial institutions and retailers is reducing the interest charged to consumers.

Understand what open banking services are

The first phase of this phase was supposed to be implemented by the end of August, But it ended up being postponed to October 29. According to BC, it was necessary to make “modifications to the technical specifications” of the system.

According to Gustavo Bresler, director of strategy at Como, the integration of open banking with PIX will represent an alternative to a credit card, especially when instant transfers can be programmed, in the PIX payment method – scheduled for 2022.

Open Banking no Brasil – Foto: Arte / G1

“With PIX, the user no longer needs to rent a credit card to make purchases, and the retailer has less opportunity to hold stock until the customer pay slip goes down,” Pressler said.

In addition, according to BC, in the third phase of open banking, consumers will no longer need to scan the QR code of PIX, nor enter the bank’s application to pay a digital bill.

From step 3 onwards, The user can authorize to save his information on the company’s website until the gateway itself makes the payment.