The Central Bank’s instant transaction system will be restricted to 5% of registered customers in this testing phase.
The Central Bank’s new payment system, Pix, went live on Tuesday, limited to specific volumes and times.
As a result, customers and financial institutions can now use the system in a restricted way until November 15. On the 16th, the system will operate 24 hours a day, 7 days a week.
The first phase of operations, however, is restricted to 5% of customers registered by financial institutions so far.
In this phase, there are still limits on the volume of transactions and the system’s hours of operation, but the transactions will be available, with customers moving values in a real way, according to the Director of Competition and Financial Market Structure, Carlos Eduardo Brandt, told UOL.
In general, Pix will operate in this phase from 9 a.m. to 10 p.m., with the exception of Thursdays (9 a.m. to midnight) and Fridays (0 a.m. to 10 p.m.). Volumes will be restricted from 1 to 5% of the customer base:
Pix operating hours during the testing phase:
Every day (except Thursdays and Fridays): from 9am to 10pm
Thursday: from 9am to 24pm
Friday: 0h to 22h
On 16 November, the system will operate without interruptions from 9 am. There are already 762 financial institutions registered in the system, which has already registered 55 million customer keys.
Last week, the head of the Central Bank’s Competition and Financial Market Structure Department, Angelo Duarte, also explained that the service may present instability in the first days of operation, but argued that instability is part of the process and that it will not harm operations.