Latest news with #CentralBank
Yahoo
7 hours ago
- Business
- Yahoo
Brazil's reshaping of the Latin American subscription economy
Brazil has quietly built one of the most successful real-time payment systems in the world over the past five years. Launched in late 2020 by the Central Bank of Brazil, Pix enables instant, free payments between individuals and businesses. Today, over two-thirds of the Brazilian population use Pix regularly, with people saying 'Pix me' instead of 'pay me back', and surpassing both credit and debit cards in transaction volume according to the Central Bank. Pix is now taking a significant step forward in the recurring payments space with the introduction of Pix Automático, a major upgrade that enables automated, pre-approved recurring payments. Building on the success of Pix, this new feature introduces a streamlined experience for subscription-based services and recurring charges. It promises to elevate an already trusted and efficient payment method into a powerful tool for sustained digital commerce, providing a blueprint for other countries in Latin America and beyond to follow. As Brazil's economy has modernised, more and more international companies that rely on subscription services have entered the South American country. In fact, subscription box services alone generate over $170 million annually. But until now, recurring payments typically relied on manual processes. With just 40% of Brazilians owning a credit card -and over 75% using Pix-, subscriptions must be paid manually every month using Pix or Boleto Bancário. Pix Automatico is set to reflect the adaptability and success of Pix in a card-scarce environment. It's a natural next step as a technical evolution that brings automation, simplicity, and reliability to recurring payments, all while building on the strong consumer trust Pix already enjoys. Pix Automático changes the equation. It allows consumers to authorise recurring debits directly from their existing bank or wallet accounts, eliminating the need for credit cards, repeated QR code scans, or monthly reminders. The process begins with a one-time enrolment, often via QR code or app interface, which serves solely to authorise future charges. The result is a smoother, more trustworthy experience that remains user-controlled through opt-in and cancellation features. For businesses, the implications are enormous. It offers them a more predictable cash flow, lower churn, and higher customer lifetime value, especially important in a market where flexibility and simplicity are key. Now, companies that rely on subscription models can reach Brazil's large unbanked and underbanked populations—people who were previously excluded from the digital economy due to a lack of access to traditional banking. Neobanks like Nubank (with over 104 million customers across Latin America) and Banco Inter (30 million in Brazil) offer simple, accessible alternatives. Digital wallets such as PicPay and Mercado Pago are also widely used, helping millions manage money and make payments without a traditional bank. For these consumers, Pix Automático doesn't just improve convenience—it represents inclusion. Banks and fintechs are also poised to benefit. Beyond media subscriptions and digital content, Pix Automático can power recurring use cases like insurance premiums, utility bills, gym memberships, and even automated savings or micro-investments. The infrastructure opens the door for new financial products that are simple, real-time, and inclusive by design. There's growing speculation that Pix Automático could even displace traditional direct debits in Brazil. Unlike legacy debit arrangements, which are slow to set up and can be bank-specific, Pix Automático offers real-time settlement and works across institutions. Pix Automatico isn't a new alternative form of payment in the Brazilian market, rather a continuation of the country's bold leadership in digital payments. Pix is already the country's most used payment method, deeply embedded in the lives of consumers and businesses alike. Pix Automático builds on this maturity, adding functionality that makes recurring payments easier, more consistent, and better aligned with both consumer behaviour and business needs. For companies looking to grow in Brazil, integrating Pix Automático will require collaboration with payment processors, updated user flows, and strong customer education. But the return is clear - stronger conversions, more predictable revenue, and a deeper connection to one of the world's most innovative digital economies. Brazil has already proven that game-changing financial innovation can come from central bankers, not just tech giants. Pix Automático is the next chapter in that story, reminding us that the future of fintech may be written not only in code, but also in Portuguese. Federico Mazzoli is VP of Product at dLocal "Brazil's reshaping of the Latin American subscription economy " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
Canada GDP Contraction Likely Continued Through May After 0.1% Fall in April
OTTAWA—Canada's economy shrank in April and likely did so again in May, leaving it tracking toward a modest contraction for the quarter as activity continues to be dampened by trade uncertainty and tariffs. The softness could encourage the central bank to again lower interest rates, provided inflation is held in check.
Yahoo
10 hours ago
- Entertainment
- Yahoo
Light rain no bother for Oregon Park District's second concert in the park
Jun. 27—OREGON — A smattering of light rain didn't stop Buzzed by SonSET from performing at the Oregon Park District's Concerts in the Park on Tuesday. The light rain that fell briefly across the concert venue at Oregon Park West, 1402 Koontz Place, didn't stop kids and their parents from moving to the tunes. Central Bank served as the music sponsor, providing flying discs to attendees. The free concerts are held from 6:30 to 8 p.m. Tuesdays. Bands perform on the park's covered stage, with spectators sitting on the surrounding lawn. Attendees are reminded to bring their lawn chairs, blankets and picnic baskets to enjoy the 90-minute concerts. Food vendors also are available on-site to purchase food or beverages. In the event of threatening weather, concerts will be moved to River's Edge Experience, 103 S. First St., Oregon. Upcoming schedule: July 1: The 80s Hit List, sponsored by Coilcraft July 8: Soda, sponsored by the city of Oregon July 15: Blue Steel, sponsored by E.D. Etnyre July 22: Burn N Bush/Color Run, sponsored by Woods Concert updates can be found on the park district's Facebook page. ExpandAutoplay Image 1 of 7 Evelyn Whalen, 3, of Oregon, plays with two plastic flying rings as she enjoys the music of ""Buzzed by SonSET," at the Oregon Park District's Concert in the Park on Tuesday, June 24. (Earleen Hinton)
Yahoo
11 hours ago
- Business
- Yahoo
Bolivia crypto transactions up over 530% amid currency woes
(Reuters) -Bolivia's central bank on Friday reiterated a dramatic uptick in transactions of digital assets, following a Reuters report that showed how more Bolivians were turning to crypto exchanges like Binance and stablecoins like Tether as a hedge against the depreciation of the local boliviano currency. According to new figures published on Friday by the Bolivian central bank, transactions using Electronic Payment Channels and Instruments for Virtual Assets (VA) soared more than 530%, from $46.5 million in the first half of 2024, to $294 million in the same period of 2025. New figures showed monthly transactions at a record $68 million in May. "These tools have facilitated access to foreign currency transactions, including remittances, small purchases and payments, benefiting micro and small business owners across various sectors, as well as families nationwide," the bank said in a statement. Cryptocurrencies were outlawed in Bolivia until June last year. Since the ban was lifted, transaction volumes reached $430 million across more than 10,000 individual operations, the bank said. The Bolivian government was working on a "comprehensive regulatory framework for financial technology companies," that aligns with international standards set by the Financial Action Task Force of Latin America (GAFILAT), the bank added. Bolivians are facing an acute economic crisis, with reserves of dollars near zero, inflation at 40-year highs and fuel shortages causing long lines at the pump. The South American country's currency has lost half its value on the black market this year, even as the official exchange rate has been held artificially steady by government intervention. That has meant more Bolivians are looking for alternatives to protect their savings and make transactions. Crypto proponents have pushed blockchain-based tokens as an answer, though economists warn that these digital offerings come with risks. "This (crypto uptick) isn't a sign of stability," said former central bank head Jose Gabriel Espinoza. "It's more a reflection of the deteriorating purchasing power of households." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 hours ago
- Business
- Yahoo
Bolivia crypto transactions up over 530% amid currency woes
(Reuters) -Bolivia's central bank on Friday reiterated a dramatic uptick in transactions of digital assets, following a Reuters report that showed how more Bolivians were turning to crypto exchanges like Binance and stablecoins like Tether as a hedge against the depreciation of the local boliviano currency. According to new figures published on Friday by the Bolivian central bank, transactions using Electronic Payment Channels and Instruments for Virtual Assets (VA) soared more than 530%, from $46.5 million in the first half of 2024, to $294 million in the same period of 2025. New figures showed monthly transactions at a record $68 million in May. "These tools have facilitated access to foreign currency transactions, including remittances, small purchases and payments, benefiting micro and small business owners across various sectors, as well as families nationwide," the bank said in a statement. Cryptocurrencies were outlawed in Bolivia until June last year. Since the ban was lifted, transaction volumes reached $430 million across more than 10,000 individual operations, the bank said. The Bolivian government was working on a "comprehensive regulatory framework for financial technology companies," that aligns with international standards set by the Financial Action Task Force of Latin America (GAFILAT), the bank added. Bolivians are facing an acute economic crisis, with reserves of dollars near zero, inflation at 40-year highs and fuel shortages causing long lines at the pump. The South American country's currency has lost half its value on the black market this year, even as the official exchange rate has been held artificially steady by government intervention. That has meant more Bolivians are looking for alternatives to protect their savings and make transactions. Crypto proponents have pushed blockchain-based tokens as an answer, though economists warn that these digital offerings come with risks. "This (crypto uptick) isn't a sign of stability," said former central bank head Jose Gabriel Espinoza. "It's more a reflection of the deteriorating purchasing power of households." Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
