Pix ItaúInstant payments for a whole country
Overview
Pix is Brazil's instant payment system, created by the Central Bank in 2020. Every bank and financial institution was required to implement it. Transfers are free and run 24/7.
Context
The pandemic pushed digital adoption fast: up to 80% growth in the use of digital channels, and 78% of consumers cut back on cash. To use Pix, users register a "chave Pix", a key like a phone number or e-mail, instead of sharing full account details. They can also generate a QR code to receive money.
My Role
I was a UX Designer on the Itaú Empresas product, part of a war room team working alongside other designers.
The Challenge
Follow the rules set by the Central Bank and track their monthly updates through 2020, adapting each change to Itaú's reality and to how users actually understood the product. Main flows: registering and managing a Pix key, transferring, and charging.
Follow-ups with stakeholders
Coordinating consistency between products and teams
UX/UI design
User research
Process
Guided by a set of objectives, we built on what we already knew and started user research. We spoke to roughly 450 users, and took these as our main learnings:
- New concepts, like "chave Pix", weren't clear to people at the time
- Users prefer making one decision at a time within the flow
- People appreciate that it's a free product (for individuals, not companies)
- Some sellers wanted to print their QR code to charge customers in-store
Results
Pix became extremely popular in Brazil. By November 2020, Itaú held more than 37% of all Pix transfers received, while other banks averaged around 15%. According to the Brazilian Federation of Banks (Febraban), Pix is now, as of 2023/2024, the most used payment method in the country.
