What is Pix?

Pix is an instant payment platform created by the Central Bank of Brazil. Operational since November 2020, it now accounts for almost a third of all payments made in Brazil. Pix supports transactions 24/7, every day of the year including weekends and holidays.

The key facts are:

  • Payments are instant: notification of payment and the transfer of funds to Volt happens within 10 seconds
  • There are currently no chargebacks
  • Pix is free for shoppers
  • Refunds are supported
  • Every transaction has a unique ID, making reconciliation easy