On Jul. 22, BRZ CB issued amendments to Pix operations rules.
BRZ CB issued Resolution 402 and Resolution 403 on the Pix payment arrangement.
Resolutions amend the regulations attached to Resolution 1 of Aug. 12, 2020.
Makes updates to rules for Automatic Pix and devices related to Scheduled Pix.
Resolution 402 Highlights
Adds to Article 3 of Resolution 1 the term payment transaction initiation service.
Service that enables the initiation of a payment transaction, ordered by the end user.
A payment transaction in relation to deposit or prepaid payment account, ordered by an institution that does not hold the account directed to the institution that holds it.
Additionally, it adds definitions for payment instruction and authorization journey.
Adds to Article 9 that the participant providing payment services to the paying user must make new attempts to initiate a Scheduled Pix transaction, if conditions apply.
If the original attempt was not authorized, observing the cases described and the procedures detailed in a specific document that will be published by the BRZ CB.
Also adds that prior to sending a payment order for settlement of a Scheduled Pix, must consult the DICT to obtain the information on the transactional account.
Transactional account of the receiving user linked to that user's Pix key, if the paying user has initiated the Scheduled Pix through the mechanism set forth in Article 12.
Resolution 403 Highlights
Resolution 403 added other financial institutions and payment institutions and National Treasury Secretariat, as government entity, to paragraph 3 of Article 3 of Resolution 1.
Added to paragraph 5 operational and liquidity risk management structure, as set out in current regulations; and cybersecurity policy, action plan and incident response plan
In addition, contracting of data processing and storage and cloud computing services.
Procedures for the execution of the measures determined by Law No. 13,810 of 2019.
Regarding compliance with sanctions imposed by resolutions of UN Security Council.
Effectiveness
Resolutions shall come into force on the date of their publication.
Jul. 24, 2024 BRZ CB Pix Security, Access Devices
On Jul. 24, 2024, BRZ CB informed on efforts to combat fraud, scams to improve Pix security mechanisms and ensure an increasingly secure payment process with Pix.
Also on Jul. 23, 2024, BRZ CB published Instruction 491 to establish guidelines for registering access devices to initiate Pix transactions and manage Pix keys.
Defined maximum value to initiate Pix transactions on an unregistered access device.
Guidelines for registering access devices aim to ensure the integrity, security, and efficiency of Pix and ensure transparency and protection of the rights of Pix end users.
The Pix participant must confirm the user’s personal information when registering.
Must establish the number of enabled devices by customers, at their discretion.
Pix participant must give the possibility of managing registered devices to customers.
Must delete a device that has already been registered, without the customer's consent.
The maximum amount allowed for Pix transactions to be initiated on an access device that is not registered is R$200.00 per transaction and R$1,000 on a given day.
Instruction 491 comes into force on publication date, taking effect from Nov. 1, 2024.
On Aug. 30, 2024, BRZ CB issued Instruction 511 through 517 on Pix membership, registration, and procedures for limit transaction management, see #224368.
Regulators
BRZ CB
Entity Types
Bank
Reference
PR, 7/24/2024; Ins 491, 7/23/2024; Res 403, Res 402, 7/22/2024
