I have been a working adult for several decades now, and the methods of payment that have been available at shops have changed and become much more convenient. Up until the early 1980s, you paid by either cash or check in Brazil. There was the risk of theft if you were carrying a lot of cash, so I always carried a few checks with me. Come to think of it, the materials for teaching foreigners Portuguese included an explanation on how to fill out a check. Nowadays my checkbook lies dormant in a drawer, but I can still use it. Credit cards made their first appearance in Brazil in 1968, but they didn’t become widely used until the 1980s to 1990s. It gives you a headache thinking about how high the credit card interest rate is for people who don’t stick to the due date for payments, but you can buy things in installments, you get points and so on, plus you can use them when you’re traveling, so they really are handy. Other safe and quick payment methods have also appeared, like internet banking and paying by QR code.


Then on November 16, 2020, the Central Bank launched PIX, a payment system it has developed. The PIX system lets you make transfers and payments instantly on your smartphone, 24/7/365. They don’t charge individual users any fees, and the fees they charge business users are low. You register via the app for your bank or the like, and you select a “Chave PIX” (PIX Key) from your ID number, mobile phone number, or your email address. You can receive transfers just by telling the payer your PIX Key. It’s safe because you don’t have to give them information like your bank name, branch number, or account number, plus, it’s quick. PIX also offers a cash withdrawal service that lets you withdraw cash not only at ATMs, but also at most retail stores.
More and more people have been using PIX, for example in my circles, I have paid for something at a garage sale, paid for services, and paid friends after asking them to get something for me. The transaction goes through in a few seconds, which is amazing.


But, unfortunately, with something new, there are always fraudsters.
Brazil has long had pickpocketing, thefts, hostage incidents, and other frightening crimes. You have to take care when withdrawing cash at the bank. You can be targeted and robbed. There are also counterfeit banknotes. You might think that checks are safe, then a forgery emerges. You might feel safe using your credit card, then a forgery emerges, or you experience some other problem, like your credit card number being found out through an online purchase and then being used improperly. And now, just when you thought PIX was secure, mobile phone thefts have increased, the reason being that the thieves use the PIX app to transfer money. I hadn’t heard of any hostage incidents for a while, but recently they have started increasing and apparently, it’s because they are demanding money transfers via PIX.
The Central Bank has introduced a measure to prevent the high number of thefts occurring because of PIX. They decided that from October 2021, it would only be possible to transfer up to R$ 1,000 (about US$ 215) between 8 pm and 6 am the next morning.
Although paying money has become much more convenient, I hope any new systems will be safer and quick. While I look forward to it, I am also not sure that I will be able to keep up.