São Paulo Consumer Protection wants Brazil’s Central Bank to limit Pix transactions to R$500 (US$96)

Implemented in November last year, the instant payment system created by the Central Bank has been widely used by the population, but it has also been used for scams through WhatsApp, kidnappings, and QR Code issues, among others.

RIO DE JANEIRO, BRAZIL - Procon-SP's executive director Fernando Capez, on Wednesday, September 15, met with Central Bank representatives to discuss fraud on Pix.

The agency's proposal is that the Central Bank should determine a maximum amount to be spent by most users of the tool and limit transactions to R$500 (US$96) until there are enough security features in place.

He recalled that, according to the Consumer Protection Code, it is the supplier's duty to pay for any losses arising from the service provided.

The director also proposed the option of chargebacks of transactions made . . .

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