Pix is the Brazilian instant payment. It was created by the Central Bank (BC) in 2020 to further democratise the Brazilian financial system, and increasingly reduce the use of paper money. PIX is now one of the ways in which people and companies in Brazil transfer funds to each other and is also one of the main options as a means of payment in e-commerce alongside cards and boleto.
A Pix payment is made in seconds and works 24 hours a day and 7 days a week, meaning that payments using this method can be made any day and time, without depending on working hours or banking hours, favouring faster transactions and end-user satisfaction.
At WEpayments, payout flows are carried out primarily with PIX. As a form of redundancy, TED (Available Electronic Transfer) can also be used, a more traditional payment model that contributes to our success rate of over 98% in making payments.