Belvo, an Open Finance company in Latin America, has announced the launch of Biometric Pix, a new solution aimed at revolutionizing instant payments in Brazil.
The new solution allows users to authorize Pix transactions using only their mobile device’s biometric features, such as facial recognition or fingerprints, eliminating the need for passwords or banking app access. The news follows a broader trend of financial institutions in Latin America seeking innovative solutions to enhance security and user experience in digital services..
According to Belvo, the technology can reduce average transaction times from one minute to less than 10 seconds. This improvement in speed and convenience comes without compromising security, as the system incorporates advanced biometric authentication methods that have proven increasingly reliable in financial applications.
OneKey Payments, a prominent Brazilian payment solution provider, has become one of the first companies to implement Belvo’s Biometric Pix. Albert Morales, General Manager of Belvo in Brazil, emphasized the significance of this development: “Biometric Pix is a major step forward in the evolution of digital payments in Brazil,” he said. “This technology makes transactions even more secure and seamless, allowing businesses and consumers to enjoy a much smoother and more reliable payment process.”
The technology’s implementation is particularly timely for Brazil’s newly regulated sports betting market. César Garcia, CEO of OneKey Payments, explained that the solution will function similarly to established biometric payment systems like Apple Pay, but with optimizations specific to sports betting transactions.
This launch follows a broader trend of financial institutions adopting biometric authentication, as demonstrated by major companies like Amazon and Mastercard in their approaches to “naked payments.” The technology addresses key security concerns while simplifying the user experience, a crucial balance in digital financial services.
Biometric Pix complies fully with Brazil’s financial regulations and aligns with the Central Bank of Brazil’s initiatives to modernize the country’s payment system. The solution is expected to see rapid adoption, particularly in e-commerce and retail sectors, where reducing friction in payment processes has been a priority.
Sources: Neobanque, Belvo, The Paypers, GamesBras, Payment Expert
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March 1, 2025 – by the ID Tech Editorial Team
