Skip to main content Pix is governed and standardized by the Central Bank of Brazil (BACEN). This glossary consolidates the most important concepts, infrastructure components, operational terms, regulatory definitions, and participant types used across the ecosystem.
Use this page as a quick reference while reading Pix documentation or integrating Pix into your financial system.
Account Identifier The banking details used to receive or send a Pix without a Pix key.
Includes: bank (ISPB), branch, account number, and account type (CACC, SVGS, SLRY, TRAN).
Alias (Pix Key) See Pix Key below.
Bacen / BACEN Banco Central do Brasil — the regulatory authority responsible for designing, operating, and supervising Pix.
BacenJud / SPI Gateway Certification A mandatory certification process required for participants that connect directly to the Pix infrastructure (SPI/DICT). Ensures cryptographic and operational compliance.
Cash-In A Pix received from an external sender into the institution’s account.
Cash-Out A Pix sent from the institution to an external recipient.
Charge (Pix Cobrança) Payment request issued via Pix, often with due dates, penalties, and interest rules. Used mainly for invoices and billing.
Claim (Portability & Ownership) A regulatory workflow used to transfer or confirm ownership of a Pix key between institutions.
There are two types:
Portability – moving a key to another institutionOwnership Claim – asserting ownership when a key is registered inconsistently
Both require user approval and follow DICT rules.
Confirmation Window The allowed time for a user to approve or reject a Pix key portability or ownership claim.
CICC / Câmaras Interbancárias Clearing houses connected to BACEN systems; referenced in certain regulatory flows.
DICT (Directory of Transactional Account Identifiers) BACEN’s official directory of Pix keys.
Stores:
key type
owner (CPF/CNPJ)
associated account
creation & update history
DICT enables sending money using simple identifiers rather than full account details.
Direct Participant An institution that connects directly to SPI and DICT with its own certified infrastructure.
Dynamic QR Code A one-time-use QR Code containing full payment details, including value, expiration, and transaction metadata. Supports Cobrança Pix and automated reconciliation.
A Pix charge with a predefined due date and rules for penalties, discounts, and interest.
E2E ID (End-to-End Identifier) A unique identifier generated for every Pix transaction.
Used for:
traceability
dispute resolution
reconciliation
fraud analysis
A special refund mechanism triggered when a transaction is identified as fraudulent. Governed by strict deadlines and workflows.
Gateway (SPI/DICT Gateway) The secure communication channel used by direct participants to connect to BACEN’s Pix systems.
A transfer settled instantly (typically < 10 seconds) through SPI.
Indirect Participant An institution that offers Pix through a Direct Participant , instead of connecting directly to BACEN.
ISPB Identificador de Sistema de Pagamentos Brasileiro — the unique numerical identifier of every financial institution in Brazil.
KYC (Know Your Customer) Regulatory verification of customer identity used to prevent fraud and ensure DICT accuracy.
Limits (Pix Limits) BACEN-defined and institution-defined rules restricting the maximum value a user can send or receive within certain windows (daytime, nighttime, custom limits).
MED (Mecanismo Especial de Devolução) The Special Refund Mechanism for fraud or operational error cases.
Allows institutions to:
request refunds
analyze fraud claims
return funds following mandatory rules
Merchant Initiated Pix When a business triggers a Pix charge using static or dynamic QR Codes.
Ownership Claim A process for asserting that the customer is the rightful owner of a Pix key held by another institution.
Participant (Direct / Indirect) Institutions authorized by BACEN to offer Pix services.
Payer The sender of a Pix transaction.
Payee The receiver of a Pix transaction.
BACEN-regulated technology provider that allows institutions to connect to the national financial network (RSFN) for Pix.
Used when the institution does not maintain its own direct infrastructure.
Portability (Key Portability) Moving a Pix key from one institution to another, with customer consent.
Pix Key A unique identifier used as a shortcut for receiving payments. Types include:
CPF
CNPJ
Phone number
Email
EVP (random key)
Pix Saque Withdrawal of physical cash using Pix at ATMs or merchants.
Pix Troco Cash withdrawal combined with a purchase: customer pays more than the purchase amount via Pix and receives the difference in cash.
QR Code — Static Single QR Code reused for multiple payments; customer enters the value manually.
QR Code — Dynamic Single-use QR Code containing full payment data. Automatically expires.
Refund (Devolução) Reversing a Pix transaction.
Types include:
standard refund
partial refund
special refund (MED)
Reconciliation Matching Pix events (sent, received, confirmed) across SPI, DICT, ledger, and internal records.
RSFN (Rede do Sistema Financeiro Nacional) The secure national network used for communication with BACEN systems.
SPI (Instant Payment System) BACEN’s infrastructure that routes and settles Pix transactions in real-time.
Static QR Code Reusable QR Code linked to a Pix key. Does not expire.
Settlement The moment funds are effectively transferred between institutions in SPI.
Transaction ID Unique identifier created by the initiating institution to track a Pix payment.
Transaction Status Positions include:
Pending
In Analysis
Completed
Refunded
Failed
Transfer Window The time window that affects Pix limits (daytime/nighttime).
Validation Regulatory and operational checks performed before executing a Pix transaction, including limits, anti-fraud, key ownership, and account status.
Webhook Callback mechanism used to deliver real-time transaction status to client systems. 
