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Pix is an instant payment method in Brazil. Customers receive a Pix string or QR code that contains the amount to pay for services or goods to complete transactions. Customers then pay the Pix, before its expiration date, using their bank apps or internet banking.
PIX is a bank transfer payment method, built and owned by Brazil's Central Bank and linked to over 700 Brazilian financial institutions.
Wirecard, a now defunct German digital payments processor that was very active in Asia, declared bankruptcy in 2024 after being forced to admit that nearly 2 billion ( 2.25 billion) in cash that was supposed to be held in Asian accounts did not actually exist.
It owed 3.2 billion in debt. In November 2024, the company was dismantled after it sold the assets of its main business unit to Santander Bank for 100 million. Other assets, including its North American, UK and Brazilian units had been previously sold at nondisclosed prices.
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