Key facts
- Brazil's central bank is evaluating ways to connect its Pix instant payment system with international platforms.
- The U.S. government has identified Pix as a practice that could justify new tariffs on Brazilian goods.
- The central bank's report suggests discussions are underway for bilateral connections and participation in multilateral payment hubs.
- Pix has significantly altered Brazil's payment landscape, increasing financial inclusion and reducing reliance on card networks.
- Pix transactions saw a 25.7% increase in 2025, reaching nearly 80 billion transactions valued at over 35 trillion reais.
Brazil's central bank is actively exploring the expansion of its popular instant payment system, Pix, to facilitate cross-border transactions. This initiative comes as Pix faces scrutiny from the U.S. government, which has cited the system's practices as potentially unfair, contributing to new tariffs on Brazilian goods.
The central bank's latest report indicates a more concrete push towards international integration than previously stated, with authorities discussing bilateral connections and participation in multilateral payment hubs. This follows information-sharing agreements signed with 65 foreign counterparts, including countries like Germany, Canada, South Africa, and Turkey.
Launched in late 2020, Pix has rapidly transformed Brazil's payment landscape, enabling real-time, low-cost transfers and bringing millions into the financial system. It has significantly eroded the market share of traditional debit and credit cards, impacting global networks such as Mastercard and Visa.
The U.S. administration, under President Donald Trump, cited Pix in a trade investigation, raising concerns about the central bank's dual role as operator and regulator, which supported the imposition of 25% tariffs on Brazilian imports. The central bank maintains that Pix is critical public digital infrastructure.
In 2025, Pix transactions surged by 25.7% to nearly 80 billion, with volumes exceeding 35 trillion reais ($6.87 trillion). Consumer-to-business payments now constitute 43% of all Pix transactions, a substantial increase from 6% in 2020, highlighting its evolution into a dominant retail payment method.