From January 1, 2025, only institutions authorized to operate by Banco Central (BC) may apply to join the Pix. The new measures, announced this Monday, 11, by the BC, are contained in resolution number 492, which adjusts the Pix participation rules to, according to the BC, “ensure that the service continues to be provided in a safe, inclusive and transparent to the population.”
It is the BC who authorizes, regulates and supervises financial institutions to ensure the stability and proper functioning of the National Financial System (SFN). This authorization is based on the value of each company's financial transactions. In this sense, some of them are not subject to authorization by the BC, but were able to join Pix.
BC expands the requirements for institutions to participate in Pix, increasing its supervisory capacity Photo: Marcello Casal Jr./Agência Brasil
According to the BC, there are 867 institutions active on Pix and 80 in the process of joining. “Current participants [do Pix] that are not authorized [a operar pelo BC] will be able to continue participating, as long as they file a request for authorization within the deadlines established in the regulations”, explained the Bank.
Furthermore, until the end of this year, payment institutions that are not yet part of Pix and that do not meet the general criteria to request operating authorization from the BC can apply to join the instant payment system. “Upon authorization, institutions become fully subject to the regulations applicable to payment institutions”, highlighted the city hall.
Timeline
For institutions impacted by the measure – which are already on Pix, but are not regulated by the BC – the authorization request must be made in three periods, according to when these institutions joined Pix:
- Between November this year and March 2025, for payment institutions that joined until December 2022;
- Between April 2025 and December 2025, for payment institutions that joined between January 2023 and June 2024;
- Between January 2026 and December 2026, for institutions that joined between July 2024 and the end of this year.
While authorization is not granted, Pix participants with an ongoing authorization process, as well as those who have not yet reached the period to submit the request, will be subject to the following measures, from July 1, 2025 :
- Accounting and auditing regulation, embodied in the Accounting Plan for Institutions of the National Financial System (Cosif), including with regard to the preparation, sending of accounting documents to the BC and the disclosure of financial statements;
- Sending information relating to customers to the National Financial System Customer Registry (CCS);
- Sending information regarding daily accounting balances and credit operations;
- And, from January 1, 2026, the requirement for payment and maintenance of share capital and net equity of not less than R$5 million.
According to the BC, these measures aim to make regulatory requirements compatible with the level of operational demands required to offer instant payments to customers, in addition to making the supervision activity carried out by the Bank more effective./Brazil Agency
