Overview
- The decision was communicated on December 4 at the Fórum Pix in Brasília after multiple postponements of planned rules earlier this year.
- Institutions were told not to use the exact label “Pix Parcelado,” although similar phrases such as “parcele no Pix” or “crédito no Pix” remain allowed.
- Banks already offer installment Pix as a credit product with varying terms, where interest typically runs near 5% a month and CET can approach 8%, and charges may appear on card bills or follow biweekly schedules.
- Officials said the Central Bank will keep monitoring the market and could consider future regulation, but they did not detail how the naming restriction or disclosure expectations will be enforced.
- Consumer group Idec called the retreat unacceptable for leaving clients exposed to opaque costs and potential overindebtedness, while market players welcomed the flexibility and had previously split with the BC over using card limits versus a separate credit line.