Brazil's Central Bank has abandoned plans to regulate Pix Parcelado in the short term, following previous delays. The decision was announced on December 4 at the Pix Forum in Brasília. While banks can continue offering the service, the name 'Pix Parcelado' has been banned.
Brazil's Central Bank (BC) announced on December 4, during the Pix Forum in Brasília, that it has dropped plans to regulate Pix Parcelado in the short term. The service, which allows installment payments via Pix with the recipient receiving the full amount instantly, is already offered independently by banks and fintechs. Originally slated for September, the launch was delayed, with rules expected in October and a user experience manual in December, neither of which happened.
The authority banned the use of the name 'Pix Parcelado' by financial institutions, allowing variations such as 'Pix installments', 'credit via Pix', or 'Pix on credit'. According to sources, the shift disappointed the BC's technical team, which declined to comment. Interest rates range from 1.59% to 9.99% per month based on customer profiles, but current rules are inconsistent, with limited clarity on default consequences.
Experts have criticized the decision. The Brazilian Institute of Consumer Defense (Idec) labeled it 'unacceptable', warning of regulatory disorder, increased abuses, and heightened over-indebtedness risk. Idec consultant Viviane Fernandes noted that the BC provided no justification, only stating the product is already market-implemented, unlike other Pix services with standardized rules.
In November, BC President Gabriel Galípolo downplayed the lack of clarity, stating Pix Parcelado is used by over half of Brazil's population. In August, he presented it as an option for 60 million people without credit cards, enabling more competitive installment payments. The BC intends to keep studying the measure for potential future regulation.