Nubank has launched tap-to-pay Pix, a service that allows users to complete payments by tapping their phones on POS terminals, as it seeks to simplify in-person payments.

The new feature integrates Near Field Communication (NFC) technology, allowing users to pay at any enabled POS terminal.

They can choose whether to pay with the balance available on their account or with credit in up to 12 instalments.

NFC is a short-range wireless technology that enables devices to exchange data when they are in close proximity, typically within a few centimetres.

Launched in 2019, Pix is an instant payment platform created and managed by Brazil's monetary authority, the Central Bank of Brazil (BCB). It enables fast payments and transfers, offering an alternative to other payment instruments such as bank slips or ATM cards.

To complete a payment, the payer normally needs the recipient's alias or Pix key – the ‘nickname’ used to identify the recipient's transaction account – or a QR code.

Available from this week on Android, the new solution aims to provide a quicker way to complete in person-payments as it eliminates the need to scan QR codes.

To use it, customers simply need to have a Pix key registered with Nubank.

The service offers users the option to create a link for payment with Pix directly on the home screen of users' phones by accessing the “Pix” or “Pay” section in the app, selecting “Pay with Pix” and clicking on the “Settings” icon to add the link.

To complete a payment, users can hold their phone close to the POS terminal and a payment screen will appear to confirm that the payment has been made via biometrics or a four-digit password.

By choosing credit, users can select the number of instalments they want and view the total purchase amount, including interest rates and IOF tax (a Brazilian tax levied on certain financial transactions, such as loans, foreign exchange operations, insurance, and securities transactions), if applicable.

The service also offers AI-powered features such as Pix audio and messages, which are designed to boost transaction processing times.

Nubank said that the service will be gradually extended to individual customers with Android systems.

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