Next Friday, February 28, the Pix by Proximity comes into effect throughout Brazil, also called Pix by Biometry, a new modality of the payment methods journey via Open Finance, that promises to bring even more ease and security to users
Trusted consultant for the Initial Structure of Open Finance with the Central Bank and specialized in enabling Open Finance for financial institutions, the technology multinational Sensedia listed the main benefits and precautions that users and companies need to take with the start of transactions via Pix by Proximity
"Before, to make a purchase through Open Finance, the user was redirected to the app or internet banking of their bank account to make the payment. Starting from February 28, this type of transaction will be done more smoothly. This is because the new feature aims to simplify the payment journey by allowing the user to complete the transaction using the bank details saved in digital wallets, without the need to be directed to your bank or financial institution's app through 'copy and paste', explain Gabriela Santana, Product Manager at Sensedia
How it will work
To use Pix by Proximity, the user will only need to link their banking information to a digital wallet, like Google's, just like we do today with credit card data on an e-commerce site, for example
After registering the bank account in the wallet, the person will be transferred to the banking app only to set up authorizations such as maximum limits per transaction and duration periods of that link. Done that, transactions via Pix will already be enabled to be made via wallet, without the need for redirection to the banking app that, inclusive, it can even be deleted from the phone if the user wishes, complements Santana
Remembering that each operation via Pix by Proximity will require the user to authenticate the final operation with biometrics, password or Face ID (this is, facial recognition
"Besides the safety requirements", reinforced by not requiring a banking app to make transactions via Pix and by the possibility of setting a maximum limit for transactions via wallet, Pix by Proximity will also be able to read QR Codes, both printed and digital, and will allow transfers between users, following the limits established during the linking process, complements Santana
Institutions already qualified
According to the definition of the Central Bank of Brazil, the largest financial institutions in the country – that hold 99% of the total amount of payment transactions made via Open Finance – were forced to implement the JSR (Journey Without Redirection), responsible for enabling features such as Pix by Proximity, until November 2024. As for the others,the obligation will only take effect starting in 2026.
During the testing period, besides technical evolution, the regulator was monitoring some indicators, how the PCM reports (Metrics Collection Platform), the response time of the APIs and the quality of the user experience journey. Upon reaching 100% in the monitored indicators, the institutions were authorized to proceed with the pilot project in production. That's why, in some digital wallets the payment option via Pix by Proximity, inclusive, "already available", highlights Santana
Next steps
Specialist in the development of projects that require the FIDO Server security protocol, mandatory by the BC for Pix authentication, and in the management of account linkages via APIs, Sensedia also developed a solution to serve Payment Initiators (ITPs)
"The goal of the project is to enable ITPs to also facilitate payments via Pix in the very environment where a purchase is being made", like sites, e-commerce, applications and marketplaces, without the need to redirect to the user's banking app through the current 'copy and paste' function, offering even more security and convenience to users, advances Santana
According to data from the Central Bank, Open Finance already has over 64 million active consents and 42 million users in Brazil
