Brazil’s Central Bank plans to introduce PIX card for offline payments

RIO DE JANEIRO, BRAZIL – In order to pay for a purchase via the new and extremely successful instant payment PIX system at a pharmacy, for example, your cell phone needs an Internet connection. But the Central Bank is already talking about an offline alternative: in an event on Wednesday (30), the institution’s president, Roberto Campos Neto, hinted that the “Pix card” could be coming soon.

The operation of this card is not yet defined. It is not even clear if the service will actually be called “PIX card”. But, according to Campos Neto, the novelty should be similar to contactless (non-swipe) cards. That is, the user will only need to bring the card close to the payment terminal to complete the transaction, without relying on the cell phone.

Normally, contactless cards are prepaid. One must purchase credit and then take the cards to specific validators to transfer the values to them. From there, the cards can be used on public transportation.

Campos Neto’s statement suggests that the PIX card will follow a similar but more practical dynamic.

Some issues still need to be resolved. For example: Will there be a value limit for transactions via the PIX card? Will passwords eventually be required? Can current credit or debit cards be “converted” into PIX cards?

Although details on this topic are scarce, answers to these and other questions shouldn’t be long in coming. That’s because the PIX launch schedule suggests that offline PIX and proximity PIX will launch in Q4 2021. Both modes can include the PIX card.

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