In practice, Bacen is implementing tougher rules for everyone who is part of Pix. Currently, the system has almost 870 active participants. In recent years, the list has been growing – in November 2023, there were 800; a year earlier, 785. After credit unions, IPs are the type of institution with the largest number of participants in the system.
As a result, sports betting and online gaming operators, as well as payment method companies operating in the sector, must be aware of the changes promoted by BCB Resolution No. 429.
Requirements
According to the new resolution, upon being authorized, institutions will become fully subject to the regulations applicable to IPs. While authorization is not granted, Pix participants with an ongoing authorization process, as well as those who have not yet reached the period to submit the request, are subject to:
1. From July 1, 2025:
Accounting and auditing regulation, embodied in Cosif, including with regard to the preparation, sending of accounting documents to the BC and the disclosure of financial statements
Sending information regarding daily accounting balances and credit operations.
2. From January 1, 2026:
Request for payment and maintenance of share capital and net worth of not less than R$5 million.
Deadlines
Impacted institutions will have specific periods to file their authorization requests:
- November/2024 to March/2025: institutions that joined Pix until December 2022.
- April/2025 to December/2025: institutions that joined between January 2023 and June 2024.
- January/2026 to December/2026: institutions that join between July 2024 and December 2024.
Window
With the aim of encouraging participation in the system, the BC also opened a window until the end of 2024, allowing IPs that do not meet the general criteria for requesting operating authorization (which is based on the value of their financial transactions) to be able to join the system.
According to the BC, the new measures aim to “make regulatory requirements compatible with the level of operational requirements required to offer instant payments to customers.”
Furthermore, the idea is to make supervisory activity “more effective. In this way, the BC seeks to ensure that the service continues to be provided in a safe, inclusive and transparent way for the population.”
Source: GMB
