In operation since November 2020, Pix (the Central Bank’s instant transfer system) continues to attract more and more account holders. In March of this year, the number of users with registered Pix keys totaled 51 million, up 72% from the same month in 2021.
The data were disclosed in the third volume of the Banking Technology Survey, carried out by the Brazilian Federation of Banks (Febraban) and the consulting and auditing company Deloitte. The survey differs from official statistics because the Central Bank only discloses the total number of Pix keys and registered users in the Directory of Transactional Account Identifiers (DICT).
As each individual can have up to five keys for each account and each legal entity can have up to 20, the Central Bank count comes with duplication of information. DICT also does not provide the number of effective Pix users, but the account holders able to register keys.
According to the survey, not only the number of users is growing, but also the individual use of Pix. As of March 2021, only 2% of account holders had received more than 30 Pix. In the same month this year, the proportion rose to 6%.
According to the survey, Pix’s growth was concentrated in individuals, whose number of users rose more than that of legal entities. However, the number of companies that will join the instant transfer service is expected to rise further from 2023, as companies will have finished adapting their financial systems to Pix.
