Bolsonaro Claims Not Familiar with Brazil’s New Instant Payment System “Pix”

RIO DE JANEIRO, BRAZIL – President Jair Bolsonaro said on Monday, October 5th, that he was not familiar with Pix, the new payment and transfer system developed by the Central Bank. Since taking over the institution at the start of the government in 2019, Roberto Campos Neto, president of the Central Bank, has considered the new system one of his bets to revolutionize the banking market.

A supporter of the President congratulated him for the new system, which can be used as a substitute for DOCs (Credit Transfer Documents) and TEDs (Express Wire Transfers), it will be free, immediate and available at any time, seven days a week. Most transactions are expected to be approved and finalized within ten seconds.

Bolsonaro replied that he has not read about the matter and that he discussed the driver’s license for truckers this week with Minister of Infrastructure Tarcísio de Freitas. The supporter then explains the operation of the Pix to the President.

“This one is from the Central Bank, used for 24/7 payments, anytime, you don’t need DOC or TED,” he said.

“I didn’t hear about it. I’m going to talk to Roberto Campos this week,” answered Bolsonaro.

Despite the President’s reply, Pix has been mentioned by Bolsonaro at least twice on his social media. On February 24th, he said on Twitter that the system would provide “greater agility” and “less costs to the citizen”. The most recent statement came on August 15th, when the President stressed the start of registrations on Monday.

“Registrations for the PIX can now start to be made from October 5th. The system will allow real-time electronic transfers at any time of day or night, including weekends and holidays,” he wrote.

According to the Central Bank, in three and a half hours on Friday there were over one million keys registered to use the Pix. By the close of business Monday, over three million keys had been registered.

Source: Estadão Conteúdo

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