Brazil: Central Bank of Brazil adopted regulation on authorisation, penalties and fraud-prevention measures in Pix payment scheme including authorisation criteria for payment institutions

On 26 September 2025, the Central Bank of Brazil (BCB) adopted resolution no. 506, amending BCB resolution no. 1 of 12 August 2020, which establishes the Pix payment scheme and its regulations. The new resolution revises the authorisation criteria for payment institutions that are Pix participants but not authorised to operate by the BCB. It also strengthens the scheme’s security mechanisms and updates the provisions on penalties applicable to Pix participants. The resolution requires such institutions that joined Pix up to 31 December 2022 to request authorisation to operate by 31 March 2025, those that joined between 1 January 2023 and 30 June 2024 to comply between 1 April and 31 December 2025, and the remainder between 1 January and 1 May 2026. It establishes grounds for loss of Pix participant status, including liquidation or bankruptcy, non-compliance with minimum capital and net worth requirements, failure to request authorisation within deadlines, or application of definitive exclusion penalties. The Resolution also introduces fraud-prevention measures, including mandatory rejection of Pix key registrations and portability requests linked to users flagged for transactional fraud, mandatory rejection of transactions involving such users, and obligations for participants to follow minimum fraud-suspicion criteria defined by the BCB.