The president of the Central Bank (BC) of Brazil, Roberto Campos Neto, said today (11) that it is not true that banks are losing money with the PIX. According to him, financial institutions participated in the development of the payment tool. In addition, any revenue losses from transactions are offset by the opening of new bank accounts and the lower circulation of paper money.
“I want to say right away that it is not true that banks lose money with PIX. In fact, we should, at some point, release some kind of study showing this. You have a loss of income on transfers, but on the other hand, new accounts are opened, new business models are generated, you withdraw money from circulation, which is a huge cost for the bank, you increase the transaction, so the transaction increases”, he said, in a lecture at the 32nd edition of Febraban Tech, an event of the Brazilian Federation of Banks, in São Paulo.
The BC president stressed that the banks understood, in the process of building the PIX, that the system would be a “win-win”, that is, all participants would profit, and helped to publicize the tool. “The system was built by the entire financial system. The banks helped a lot, put out beautiful advertising, did very good marketing.”
Campos Neto stressed that the BC’s intention is to increase society’s participation in the national banking system. “We want to ‘bankarize’, we want competition with inclusion, it’s not about winning or losing, everyone is winning.”
