Payment rails
PIX key
Brazilian identifier — CPF, phone, email or random key — resolved to an account by a central directory.
PIX is the Brazilian central bank’s instant payment system. Its key replaces the branch, account number and account type triple with a single value, chosen by the holder among four possible formats.
The key is personal: it is attached to an identified holder, which makes it possible to check that a payout beneficiary is indeed the verified person. Settlement is immediate and irrevocable, which makes key resolution all the more important: a mistake cannot be undone.