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Writer's picturemarianacantini

How Pix Revolutionized Financial Behavior in Brazil

Pix, Brazil's instant payment system launched by the Central Bank, was designed with a unique value proposition—no fees, immediate transactions, and unrestricted hours. This set the stage for a rapid transformation in Brazilian economic behavior, enabling seamless, 24/7 transactions previously unthinkable in the traditional banking environment.

As a Senior Product Designer at iti Itaú, I led the design process for Pix, working to adapt its complex functionality into a user-friendly experience. Despite the challenges posed by the pandemic, we not only completed the project on time but also managed to release the solution ahead of the official launch of Pix, which evolved from an ambitious idea to a fundamental part of Brazil's economic landscape.




Key Challenges


1. The Remote Work Challenge Amid COVID-19

Developing Pix during the pandemic meant working in a high-stress, remote environment. The emotional toll of quarantine often fluctuated productivity, and our team had to navigate mental health struggles alongside the project's technical demands. This experience underscored the importance of flexibility and resilience, highlighting the personal toll often hidden in large-scale projects.


2. A Firm Deadline

Pix was a legal mandate, and missing the November 16, 2020, launch was not an option. Our design and tech teams worked tirelessly under constant pressure, balancing agile development cycles with the firm deadline imposed by Brazil's Central Bank. Our commitment to meeting this deadline was unwavering, ensuring Pix was ready for its official launch.


3. Public Skepticism

One of the most significant barriers was the public's skepticism. During user testing, many people thought Pix was "too good to be true" or suspected hidden fees. Some believed it involved blockchain or other unfamiliar technology, adding to the confusion. These misconceptions made it challenging to convey Pix's value while ensuring clarity and trust.


4. Navigating Changes with the Central Bank

Pix's scope evolved frequently, especially regarding new features like "EVP" (unique random key) and QR codes. The design needed agile enough to adapt to these ongoing shifts, often requiring last-minute adjustments. One of the most complex design problems was creating a user-friendly QR code generation and scanning system that met social distancing needs.


Solutions and Innovations


Designing with Distancing in Mind

Due to quarantine restrictions, we focused on touchless transaction options. The team emphasized Pix key sharing (using phone numbers, email, CPF, or random codes), eliminating the need for physical interactions. The creation of Pix QR Codes, scannable by any bank app, also facilitated cashless payments for businesses of all sizes, allowing even small vendors to accept payments remotely.


Adapting Global Inspirations to Local Needs

Inspired by the ubiquity of QR codes in WeChat (China), some stakeholders envisioned QR codes at every Brazilian market stall. However, we realized this assumption didn't align with Brazil's unique socio-economic context. The solution? A flexible, multi-platform approach allows users to scan QR codes from their gallery or WhatsApp, creating a more adaptable and credible experience.


Additional Innovations to Build Trust

We introduced Pix's "copy and paste" feature to counter public skepticism, mirroring familiar experiences with Brazil's "boleto" payment system. By framing the new functionality in context users already trusted, we could ease concerns and build confidence in Pix's security and ease of use. Our efforts to build trust in Pix were relentless, ensuring users felt confident in the system's reliability.


Transformative Impact on Brazilian Consumer Behavior

Pix quickly became ubiquitous. It shifted behaviors at all levels, from personal finance to business transactions, catalyzing a cashless economy. Since it offered instant transfers, no fees, and round-the-clock availability, Pix became the preferred payment method for individuals, small businesses, and large retailers. This convenience influenced Brazilian e-commerce, with more consumers completing online purchases due to Pix's frictionless experience. Additiuce the unbanked population by providing free, instant transactions accessible to all, including those with only a primary mobile phone.


Conclusion

Pix was more than a project; it was an opportunity to reshape financial behavior across Brazil. We created a product that balanced convenience with inclusivity by addressing unique design challenges and adapting to unprecedented circumstances. Pix is now a cornerstone of the Brazilian economy, setting a new standard for digital payments and influencing financial systems worldwide.

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