Pix, a fast payments system in Brazil, was developed between 2018 and 2020 by the Central Bank of Brazil (BCB). Launched in November 2020, Pix allows people to send and receive payments within a few seconds — typically around five seconds — at any time of the day, including non-business days. About 77% of Brazil’s population has used the system. Pix has also contributed significantly to financial inclusion, with 71 million Brazilians making their first digital payments using Pix.