Pix by approach has arrived, but it's not for everyone; find out who can use it

O Approximate Pix has arrived, being announced this week by Google and the Central Bank (BC), but the functionality is not yet available to a relevant base of users and account holders.

This is because Pix by contact is only possible via Google Wallet, Google's digital wallet that is only available for Android cell phones. There is still no forecast of when it will be available for Apple cell phones, which currently use Apple Wallet for contactless card payments using the cell phone.

Among the banks that have Pix functionality within the GPayor Google Paythere are only PicPay, C6 and Itaú, which has just joined the list of financial institutions available on the platform.

Finally, the resource still faces one last restriction – the machines.

O payment with Pix by approximation it works on any machine that is enabled to receive payment, however, for now only machines from Rede – Itaú's acquiring company – are 100% enabled to receive this type of payment.

The functionality started to be designed by the Central Bank itself after a survey with users that identified that around 30% of people who were little or not fans of Pix attributed this to the need to access the app and enter a code or read a QRCode – public who had a preference for paying by contactless card, whether physical or on a cell phone, as it is faster.

“Payment by contact has a lot of traction among Brazilian consumers – most recent market data shows that 61.1% of transactions in the physical world are made using this technology. In addition to a very fluid and fast experience, which happens in seconds, it offers an additional layer of protection with authentication. With it, the use of Pix in commerce has enormous potential for growth, solving challenges that will bring a much better experience for the consumer, who makes the purchase, and for the seller, who receives it”, reinforces Mario Miguel, director of Payments for Individuals at Itaú Unibanco.

When will it be available to everyone?

The expectation is that in February 2025 the Pix by approximation will be widely available, given that it is the regulatory deadline, established by the Central Bank, which obliges banks and financial institutions to offer the modality of payment.

“We have this deadline in February, and we see this moment of open finance as a whole as very important. Adherence, after this, will depend on the mass expansion of this new journey. For the population to actually join, it has a lot to do with education and encouragement from institutions, which must make a lot of media about the subject”, observes, Auziane Moraes, Stark Bank Product Director

How to register an account on Google Wallet

For the user to start using the new functionality, simply register their bank account on the Google Wallet and validate the registration in the bank's application.

To register your bank account on Google Wallet, simply follow the steps below:

• Open the Google Wallet app
• At the bottom, tap “Add to wallet”
• Tap Payment Card
• All cards saved to your Google Account are displayed
• Tap New credit or debit card
• To add a card, use the camera or tap Enter details manually
• At the bottom of the screen, tap Save and continue
• Read the issuer's terms and tap Accept
• If you need to verify your payment method, choose an option from the list

More news

In addition to contactless payments, Google also announced simplification of payments via app and Chrome using Pix.

Now, a customer can use the Zona Azul application, for example, select payment via Pix and select the account you want to use to make the payment immediately. Likewise, in the Chrome browser you can click on the 'pay with GPay' button and select the account immediately.