For a long time, Latin America was left on the sidelines of the financial innovation debate. Silicon Valley, London, and more recently, Asian hubs dominated the narrative about the future of digital payments.
But Brazil changed the game. In less than four years, Pix not only consolidated itself as the leading payment method in the country—surpassing credit and debit cards—but also became a global case study, placing Brazil as a key player in a transforming financial system.
Brazil’s success can also be explained by the structure of its market
With only five major banks—two public and three private—the country created favorable conditions for implementing Pix and, most importantly, ensuring its widespread adoption.
In the United States, for example, the fragmentation among thousands of financial institutions and the strong influence of the private sector—especially credit card companies—make it difficult to create a robust public system. Added to this is an economic mindset that limits the role of the state.
Launched in 2020 by the Central Bank, Pix was born with an ambition that now seems visionary: to reduce transaction friction, expand banking inclusion, and lower intermediation costs.
What could have been just another instant payment experiment quickly became a global trend.
Brazil is now the second-largest country in the world in instant payments by transaction volume, behind only India, according to the Prime Time for Real-Time Report.
This scale is impressive
Unlike private solutions such as Venmo or Cash App, or even public systems like India’s UPI—which operates under its own regulatory governance—Pix is a state project, fully regulated and operated by the Central Bank.
It is public infrastructure, not a company or an app, and precisely because of that, its impact is profound—creating an environment of trust and interoperability that breaks down traditional barriers.
The question that should be echoing in New York, London, and Singapore is simple:
What would happen if this model were exported?
Pix points to a frictionless payment future—where transferring value happens almost invisibly, as easily as sending a message.
In a world where people still pay fees to move money between accounts, or where international settlements take days, Brazil shows that it already lives in another era.
The international expansion of Pix is still in its early stages. Each country has its own rules, financial structures, and complex regulatory policies.
Harmonizing legislation and integrating systems will require multilateral negotiations, technological adjustments, and political patience.
Even so, global interest in Pix continues to grow
Sectors such as international retail, iGaming, and tourism already see Pix as an efficient and traceable alternative capable of replacing traditional payment methods and offering a competitive advantage to operators committed to compliance.
This movement has not gone unnoticed. BRICS countries are studying how to replicate the model; Portugal is investing in its adoption in the hospitality sector; and in the United States, the platform is already being used in retail targeting Brazilian consumers.
What began as a domestic necessity is gradually becoming an international trend—but its global consolidation will depend on political, regulatory, and governance factors that go far beyond technology.
Pix demonstrates that it is possible to combine technological innovation with state regulation, financial inclusion, and cost reduction.
By doing so, Brazil sends a clear message to the world: it has paved the way for efficient and reliable instant payments.
To ignore this movement is to overlook one of the most successful digital public policy experiments of our time—though it’s important to recognize that global consolidation remains a complex challenge.
Leonardo Baptista
CEO and Co-Founder of Pay4Fun
