The Brazilian Federation of Banks (Febraban) has reported a significant increase in the use of PIX, Brazil's instant payment system, in the first half of 2023. Transactions via PIX grew by 61% compared to the same period last year, reaching a total value of £29 billion. This growth is attributed to the convenience, speed, and security offered by PIX, which has become increasingly popular for both personal and business transactions. The number of PIX transactions also saw a substantial increase, reaching 14.2 billion in the first half of 2023, representing a 40% growth compared to the previous year. The average transaction value remained stable at £2,034, indicating that PIX is being used for a wide range of transactions, from small everyday purchases to larger payments. Febraban's report highlights the growing adoption of PIX as a preferred payment method in Brazil, with its user-friendly interface and instant settlement capabilities continuing to drive its popularity.