Brazil's central bank said on Monday it is assessing links between its popular instant payment system Pix and similar platforms abroad, in a more concrete push toward cross-border integration as the system comes under scrutiny from the U.S.
In a report on Pix, which was recently cited by the U.S. government among practices it views as unfair and used to justify new tariffs on Brazilian goods, the central bank said connecting instant payment systems could lower costs, accelerate transactions, broaden access and improve transparency in cross-border payments.
The language was firmer than in the regulator's previous Pix management report, published in 2023, which said only that the platform "may in the future" be integrated with international instant-payment systems.
The latest report says authorities are discussing bilateral connections and participation in multilateral payment hubs.
The central bank told Reuters in July that it had signed information-sharing agreements on Pix with 65 foreign counterparts, ranging from Germany and Canada to South Africa and Turkey.
Pix dominates electronic payments in Brazil, enabling real-time transfers through banking apps. The system offers free person-to-person payments and significantly cheaper transactions for merchants, bypassing much of the traditional card-payment chain.
Since its launch in late 2020, Pix has transformed Brazil's payments landscape, bringing tens of millions of people into the financial system while eroding the share of debit and credit cards, affecting global card networks such as Mastercard (MA.N) and Visa (V.N).
The system was cited by U.S. President Donald Trump's administration in a trade investigation concluded in July that raised concerns over the central bank's dual role as operator and regulator. The finding helped support fresh 25% tariffs on Brazilian imports.
The central bank reiterated in the report its long-standing view that Pix is critical public digital infrastructure.
Pix transactions rose 25.7% in 2025 from the previous year, to nearly 80 billion, with volumes exceeding 35 trillion reais ($6.87 trillion). Consumer-to-business payments accounted for 43% of all Pix transactions last year, up from 6% in 2020, underscoring its evolution into a dominant retail payment method.
($1 = 5.0967 reais)
