Brazil to introduce instalment function for Pix
BCB also plans to allow merchants to collateralise loans with future receivables on platform
The Central Bank of Brazil (BCB) has announced to roll out more functions for its instant payment platform Pix, including the option to pay in instalments and collateralise future income for loans.
In a statement, published on April 3, the BCB said the “Pix in instalments” function should become available to consumers and retailers from September of this year.
It added that although the payer would be paying in stages, the recipient would have access to the full amount immediately. This means that
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