Brazil’s pioneering instant payment system, Pix, is taking a step forward with the introduction of Pix by Approximation, a feature enabling contact less payments verified by biometrics. The system, set to roll out by February, 2025 and was developed in conjunction with Rede Itaú, represents the latest milestone in Brazil’s DPI journey.
As per reports, payments will be processed by bringing a mobile phone close to a payment terminal, such as a card machine, leveraging bank accounts pre-linked with Google Wallet. The system communicates through NFC (Near Field Communication) technology.
