> ## Documentation Index
> Fetch the complete documentation index at: https://docs.lerian.studio/llms.txt
> Use this file to discover all available pages before exploring further.

# What is Pix Indirect (BTG)?

> BTG Pactual acts as the direct participant that connects your institution to BACEN's Pix infrastructure through its Banking as a Service offering.

BTG Pactual is one of the largest investment banks in Latin America. It operates as a **direct participant** in Brazil's Pix ecosystem. Through its Banking as a Service (BaaS) infrastructure, BTG connects indirect participants to BACEN's SPI and DICT. SPI is the Instant Payment System. DICT is the directory of transactional account identifiers.

# BTG's role in the Pix ecosystem

***

As the direct participant, BTG handles the layers that require regulatory licensing and direct BACEN integration:

* **SPI connectivity**: Sends and receives Pix payment and refund messages through BACEN's real-time settlement infrastructure
* **DICT access**: Manages Pix key lookups, registrations, and claim resolutions at the BACEN directory level
* **Settlement and liquidity**: Processes financial settlement between institutions through BACEN's infrastructure
* **Regulatory compliance**: Maintains the certifications, audits, and operational requirements BACEN mandates for direct participants
* **Webhook notifications**: Delivers real-time event callbacks for transaction status changes, key events, and dispute updates
* **mTLS security**: Provides certificate-based authentication for secure webhook communication

<Note>
  Your institution retains full control of its ledger, customer data, business rules, and operational infrastructure. BTG provides connectivity, not account management.
</Note>

Beyond standard transfers and DICT operations, the plugin supports the advanced Pix flows BACEN requires:

* **MED 2.0 Funds Recovery**: Track fraudulent fund movements across accounts and request coordinated refunds
* **Distributed partial refunds**: Return one refund debited from several internal accounts in a single operation
* **Intra-PSP (P2P) transfers**: Settle internal transfers without BTG and report them to BACEN through TRCK002
* **Unblock**: Recover refunds or transfers stuck in `PROCESSING`

# Why BTG

***

BTG brings specific advantages as a direct participant for Pix operations:

* **Production infrastructure**: BTG already operates at scale in the Pix ecosystem
* **Built-in BTG integration**: The plugin includes support for BTG's APIs, authentication, and event model. You do not build custom middleware
* **Faster launch**: BTG absorbs the regulatory and infrastructure complexity, so your institution launches Pix sooner
* **Simplified onboarding**: BTG provides credentials directly when your institution signs up for indirect BACEN integration. You do not need a separate certification process

# Next steps

***

* [Setting up the integration](/en/interfaces/pix-btg/indirect-pix-integration): Configure the plugin's connection to BTG, Midaz, CRM, and supporting services
* [Webhooks](/en/interfaces/pix-btg/indirect-pix-webhooks): Event types, payloads, retries, and handling of BTG notifications
* [MED 2.0 — Funds Recovery](/en/interfaces/pix-btg/indirect-pix-med-2-funds-recovery): Cross-account fraud recovery and the X-Purpose header
* [Refund operations](/en/interfaces/pix-btg/indirect-pix-refund-operations): Distributed partial refunds and unblocking stuck operations
* [Intra-PSP transfers](/en/interfaces/pix-btg/indirect-pix-intra-psp): Internal P2P settlement and TRCK002 reporting
* [API reference](/en/reference/interfaces/pix-btg/create-entry): Full API for DICT, Claims, Transactions, QR Codes, and MED operations