Brazil's central bank is set to allow users of the Pix instant payments system pay for their transactions in instalments.
Launched in late 2020, central bank-run Pix has proved a runaway success and is already the most popular payment method in Brazil.
Arriving in September, the new 'Pix Parcelado' feature will be available to consumers and merchants. Payees will receive the full amount instantly, payers will have the option to pay in instalments.
Last month, the central bank added contactless functionality to Pix, enabling shoppers to pay with the system with a tap of their phone. The feature connects the digital wallet with the user's bank account through Open Finance's APIs.
Separately, the central bank has released a report on the first phase of its CBDC pilot. The pilot focused on privacy and programmability features tested by implementing a specific use case - a delivery versus payment protocol for a federal government bond between clients from different institutions, as well as the services underpinning the transaction.
A second phase is now underway, with 13 financial services being tested to solve real economic problems, such as buying and selling a car. These services will be operational through smart contracts created by the platform's participants.
"The Pilot has proven to be challenging from a technological point of view, and the second phase will require more intensive monitoring than anticipated," says the Bank.