The Central Bank decided to postpone the launch of the installment Pix, initially scheduled for this month of September. The new functionality still needs to go through additional regulation steps before being made available to the public. The estimated delay is approximately three months.
Recent hacker attacks, which resulted in millionaire deviations, directly influenced the decision of the monetary authority.
According to the revised schedule, the rules of the installment PIX must be completed in October, while the user experience manual and operating procedures are scheduled for December. After this, there will be a period of coexistence between existing products and the new system.
In addition to the concern for fraud, another challenge is linked to the high level of indebtedness of Brazilians. There is a risk that consumers confuse the sport, believing that they are making a installment transfer when, in practice, they will be hiring a loan subject to interest. The Central Bank works to define clear rules on rate transparency and the consequences in case of default.
