Brazil’s Pix is considering expanding into Europe, with Brazil’s central bank and the European Central Bank discussing a potential connection between Pix and the ECB’s TARGET Instant Payment Settlement (TIPS) network.
The ECB confirmed the discussions to Brazilian newspaper Folha de S. Paulo, saying the two platforms have already begun exploratory work on linking them. Legal, security, technical, and operational assessments are expected to be completed by September, with the two sides hoping to launch a pilot program by June 2028.
Moving Beyond Brazil
According to Folha, nine departments at Brazil’s central bank have been mobilized to define the governance framework and assess the compatibility of the two systems. If the connection goes ahead, Brazilians could settle payments in Europe using funds held in their bank accounts at home.
“It shows Pix is willing to move beyond being a domestic network and partner internationally,” said Ben Danner, Lead Analyst of Debit at Javelin Strategy & Research. “It would make payments for Brazilians that are traveling to Europe easier and familiar by having the ability to settle over the Pix network from their own domestic accounts.”
The reverse arrangement, which would allow Europeans to use Pix, does not appear to be part of the current plan.
“The EU has its own instant payments system, so it’s not like Pix is going to take over the domestic payments system there,” said Danner. “But I expect Pix to be partnering with more countries to enable acceptance for Brazilian travelers.”
Overseas Ambitions
The connection would mark Pix’s first major cross-border expansion, but Brazil has been laying the groundwork for international use of the system for several years. The central bank has been working with more than 60 other central banks through the Bank for International Settlements’ Project Nexus, which aims to enable interoperability among instant payment systems globally.
International Pix also allows Brazilians traveling abroad to use Pix at participating physical stores, although its reach so far has been concentrated largely in Latin America. Conversely, Pix Roaming allows visitors to Brazil to make instant purchases at merchants that accept Pix.
