According to a recent report by the Brazilian Federation of Banks (Febraban), Pix transactions have experienced an impressive 61% growth in the first half of 2023 compared to the same period last year. This surge in popularity highlights the growing adoption of the instant payment system in Brazil.

Pix, launched in November 2020, allows users to make instant payments and transfers using mobile devices. Its convenience and ease of use have made it a popular choice for both individuals and businesses. The report also indicates that the average value of Pix transactions has increased by 12% during this period, suggesting that users are increasingly relying on the platform for larger payments.

The growth of Pix transactions is expected to continue in the coming months, driven by its user-friendly interface, low transaction fees, and widespread acceptance. This growth is a testament to the transformative impact of digital payments in Brazil and the increasing preference for convenient and secure payment methods.