2023-Public-Sector-Perspectives

Pix looks set to continue its phenomenal growth. Its usage has become second nature to many Brazilians and as its functionality becomes increasingly sophisticated volumes will grow further. The likely introduction of buy now, pay later will enable Pix to compete with credit cards while request to pay could act as an alternative to automated direct debits, for instance. Indeed, the success of Pix has encouraged other Latin American governments to consider its adoption. For governments and public sector entities, the opportunity to improve convenience for customers and reduce the cost of collections presents a win-win for all parties and further adoption seems inevitable. Citi’s Public Sector Group and Treasury and Trade Solutions teams in Brazil and Latin America continue to monitor developments in the market and are working with clients to deliver and develop new solutions using Pix. Indeed, the success of Pix has encouraged other Latin American governments to consider its adoption. For governments and public sector entities, the opportunity to improve convenience for customers and reduce the cost of collections presents a win-win for all parties and further adoption seems inevitable. 42 Governments Leading Digital Transformation: Instant Payments in Brazil