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Brazil's Central Bank extends Pix fraud contestation deadline to 80 days
The Central Bank of Brazil has implemented new rules for the Pix instant payment system to combat fraud. Effective September 1, 2026, the deadline to contest a refund via the Special Return Mechanism (MED) has been extended from 30 to 80 days. This change applies to two scenarios: victims of fraud can request a refund up to 80 days after the original transaction, and legitimate recipients who suffered an undue return can contest it within 80 days of the return date.
The measure specifically targets scams where fraudsters trick merchants into making manual transfers before claiming the original Pix was an error and triggering the MED. By extending the window, the Central Bank aims to protect small businesses and service providers from losing funds twice.
In the broader fintech sector, Creditas reported a fourfold increase in conversion rates for users arriving via AI tools, prompting tests of ChatGPT Ads in Brazil. Additionally, Simetrik has launched Simetrik Agent, an autonomous AI for financial control, to manage the increasing complexity of digital transactions. Meanwhile, data from binds.co indicates that 88.9% of Brazilians with four or more financial products have switched institutions, challenging the industry assumption that product diversification equates to customer loyalty.
Entities
Abecs · Banco Central do Brasil · Brazil · CREDITAS · Caixa Econômica Federal · FEBRABAN · Federação Brasileira de Bancos · Mecanismo Especial de Devolução · Pix · Simetrik · binds. co · binds.co
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] 82% of Brazilians use Pix for payments and bank transfers. jcce.com.br
- [○ 1 SOURCE] Over US$ 150 million was transacted between January and June, with 80% via Pix.
- [○ 1 SOURCE] Pix leads digital financial searches in Brazil with 1.1 million monthly searches. jcce.com.br
- [○ 1 SOURCE] There were 243 million active credit cards in Brazil in the first half of 2025. jcce.com.br
- [○ 1 SOURCE] Caixa Econômica Federal is pre-launching a new Android app to centralize social benefits and banking services.
- [○ 1 SOURCE] Pix acceptance has reached approximately 300 establishments across 13 countries.
- [○ 1 SOURCE] Pix search volume is 2.3 times higher than credit card search volume. jcce.com.br
- [○ 1 SOURCE] Pix moved R$ 19.8 trillion in the first half of 2026, a 28% increase from the previous year. valor.globo.com
- [○ 1 SOURCE] Bill 3127/26 proposes that financial institutions must refund victims of Pix scams in full within five business days. jequiereporter.com
- [○ 1 SOURCE] Losses caused by Pix scams totaled R$ 2.7 billion during 2023 and 2024.
- [○ 1 SOURCE] Among Brazilians with four or more financial products, 88.9% have switched institutions at some point. www.letsmoney.com.br
- [DISPUTED] The Pix system reaches more than 170 million individuals. valor.globo.com