This post is also available in: Español (Spanish)Contxto – The Central Bank of Brazil is shaking up the fintech scene of Latin America’s largest country.

Related article: Banxico rolls out CoDi pilot for cashless QR and NFC paymentsBrazil’s fintech betTo use PIX, a user needs an account whether it’s with a bank, fintech or valid payment institution.

Small and medium-sized enterprises (SMEs) can benefit from this platform as it gives them the opportunity to offer customers electronic payments.

Both are government-developed solutions designed to encourage electronic payments, increase the number of people with bank accounts, and reduce the use of cash.

And second, it also implies the need to break down misconceptions about electronic payments and reassure users on the security of processing transactions through PIX. | To read full story, visit https://startuparound.com/read/1582210808.2561033/Central-Bank-of-Brazil-to-launch-payment-application,-PIX?ref=audio_experience