Brazil’s Central Bank has moved to shore up the security of its instant payment system, Pix, after a series of cyberattacks exposed vulnerabilities in the country’s digital finance infrastructure and highlighted a new front in organized crime.
Announced on Friday, the measures impose stricter conditions on fintechs and service providers that connect to Pix, which can process as many as 290 billion transactions a day. Transfer limits for unauthorized payment institutions and technology providers are now capped at BRL 15,000 (about USD 2,700). Such firms must also meet higher governance and risk management standards, including maintaining a minimum capital of BRL 15 million.
In addition, no new payment companies will be able to operate without prior approval from the Central Bank, which has brought forward its deadline for unregulated institutions to seek authorization from December 2029 to May 2026. Technical certification by independent firms may also be required to confirm compliance.
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