The solution can lead to more timely payments, reduced administration, and a better customer experience for companies.

"The ability to do the direct deposits, the ability to do the auto debits ... it causes people to keep the business at the bank," says Bill Schretter, a certified financial planner at Allworth ...

Pix has seen rapid growth since its launch in 2020 by Brazil’s central bank. In 2024, Brazilians made 42 billion payments ...