> ## 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?
> Pix is Brazil’s official instant payment system, developed and regulated by the Central Bank of Brazil (BACEN).
It enables instant transfers between individuals, businesses, and financial institutions — operating **24/7**, including weekends and holidays.
Transactions typically settle in **under 10 seconds**, providing an accessible, low-cost, and secure payment experience that spans the entire financial ecosystem.
# How Pix works
***
Pix supports multiple initiation methods:
* **Pix Keys:** CPF/CNPJ, phone number, email address, or EVP (random key)
* **QR Codes:** Static (reusable) and dynamic (single-use, metadata-rich)
* **Manual entry:** Full banking details (bank, agency, account)
After confirmation, the transaction is validated, routed through BACEN’s infrastructure, and credited instantly to the recipient.
# Why Pix matters
***
Pix combines speed, accessibility, and regulatory-grade security:
* **Instant settlement**: Routed and cleared in seconds
* **Always available**: 24/7 operation
* **Low cost** or free for individuals
* **Secure and auditable**: Every transaction has an E2E ID
* **User-friendly**: Human-readable identifiers reduce friction and errors
Pix has rapidly become Brazil’s most widely adopted payment rail, used for everyday transfers, merchant payments, service flows, and financial operations.
# Pix modalities
***
Pix supports several operational flows defined by BACEN:
| Type | Description |
| ------------------ | ------------------------------------------------------------ |
| **Common Pix** | Standard transfer via key or full account details |
| **Pix QR Code** | Static or dynamic EMV-based payment initiation |
| **Pix Saque** | Cash withdrawal at authorized merchants |
| **Pix Troco** | Payment + cash withdrawal in a single operation |
| **Pix Cobrança** | Pix with due dates, penalties, discounts, and reconciliation |
| **Pix Agendado** | Scheduled Pix |
| **Pix Automático** | Recurring payments |
These modalities cover both consumer and business use cases.
# Pix infrastructure: SPI and DICT
***
Pix relies on two core services operated by BACEN:
## SPI — Instant Payment System
***
The SPI is Pix’s settlement engine.
It handles:
* Transaction routing between institutions
* Real-time clearing
* Final, irrevocable settlement
Institutions connect to SPI through the **SPI Gateway**, which requires strong cryptography, mTLS, and regulated network connectivity.
## DICT — Directory of Transactional Account Identifiers
***
DICT is the nationwide registry that stores **Pix keys**.
It ensures:
* Key uniqueness
* Lookup of recipient information
* Portability between institutions
* Ownership validation
* Fraud and dispute checks (linked to MED and infractions)
Every Pix operation also includes a **unique End-to-End ID (E2E)** for reconciliation and dispute resolution across all participants.
# Participants in the Pix ecosystem
***
BACEN defines participation models based on how institutions connect to its infrastructure:
### Direct Participants
Institutions that connect directly to SPI and DICT.
They manage:
* Their own Pix messaging and connectivity
* Real-time liquidity
* Full regulatory, operational, and security compliance
This model provides maximum autonomy and control but requires significant infrastructure and governance maturity.
### Indirect Participants
Institutions that access Pix through a direct participant (the “sponsor”).
The sponsor handles:
* Connectivity
* Clearing
* Settlement
* Compliance with BACEN protocols
This reduces operational complexity and speeds up time-to-market.
### A practical way to understand it
| Scenario | Direct participation | Indirect participation |
| ------------------ | -------------------------------------------------- | -------------------------------------------- |
| **Transportation** | Owning an airplane and being a licensed pilot | Flying using a commercial airline |
| **Food service** | Opening your own restaurant with all legal permits | Operating inside a licensed kitchen |
| **Real estate** | Building an entire building | Renting an apartment in a completed building |
In all cases, the goal is the same -- but the responsibility and complexity shift dramatically. End users see no difference between the two models.
### PSTI — Information Technology Service Provider
A PSTI is a BACEN-regulated provider authorized to operate the infrastructure required for financial institutions to connect to the RSFN (National Financial System Network).
Using a PSTI allows institutions to:
* Connect to BACEN networks without building full infrastructure
* Rely on certified, secure, and compliant systems
* Maintain control of their ledger and business logic
PSTIs ensure regulated communication, data protection, and high availability for Pix participation.
# Requirements for participation
***
To offer Pix, institutions must follow BACEN’s operational and security standards, which typically include:
* mTLS authentication and ICP-Brasil certificates
* Regulated connection to the RSFN (directly or via PSTI)
* 24/7 availability and redundancy
* Real-time monitoring and SLA adherence
* Fraud prevention and dispute handling (MED)
* Compliance with DICT and SPI message formats
* Timely reporting, logging, and auditability
* Following nightly limit rules and configurable customer limits
These requirements ensure consistent, regulated behavior across the entire ecosystem.
# In short
***
* **SPI** handles settlement
* **DICT** manages Pix keys
* **Direct or indirect participants** connect through certified gateways
* **PSTIs** provide regulated infrastructure
* **Pix modalities** support everything from simple transfers to QR Code payments and invoicing
* **BACEN regulations** ensure interoperability, security, and traceability
Together, these components form Brazil’s instant-payment ecosystem — fast, compliant, and universally accessible.
**Regulatory reference**
This page provides a practical overview of how Pix works. For deeper technical, legal, and regulatory details — and to stay up to date with rule changes, deadlines, and official requirements — always refer to the [official documentation](https://www.bcb.gov.br/estabilidadefinanceira/pix-normas) published by the **Central Bank of Brazil (BACEN)**.
BACEN’s materials are the authoritative source for Pix regulations and contain the most complete and up-to-date specifications.
# Pix in the Lerian platform
***
Lerian provides **Pix Switch** — a unified plugin that implements the complete Pix orchestration layer for financial institutions.
Pix Switch handles all the complexity described above — DICT management, transaction flows, QR Codes, MED, refunds, and more — through a single API. Institutions configure their connectivity provider, and the plugin handles the rest.
Key characteristics:
* **One plugin, any provider** — A provider adapter layer abstracts the connectivity provider, so your integration stays the same regardless of how you connect to BACEN
* **All participation models** — Whether your institution participates directly or indirectly, the API is identical
* **Native ecosystem integration** — Works with Midaz (ledger), CRM, Fee Engine, Reporter, Matcher, and other Lerian products
Learn how Pix Switch works, what it provides, and how to get started.
Explore the core Pix domains: DICT, Transactions, QR Codes, and MED.