According to the Brazilian Federation of Banks (Febraban), PIX transactions surged by 61% in the first half of 2023, reaching a total value of BRL 29 billion. This rapid adoption is attributed to the convenience, speed, and security offered by the instant payment system. PIX has become a preferred method for both individuals and businesses, facilitating seamless transactions and reducing the reliance on cash. The growth in PIX usage is expected to continue in the coming months, further driving the digitalization of payments in Brazil.