Joint Instruction No. 4 — Publishes Version 2.2 of the Pix Execution Process Flow Manual, which comprises the Pix Regulation

The Head of the Department of Competition and Financial Market Structure (Decem), using the powers conferred by Articles 23, caput, item I, clause “a”, and 94, caput, item IX, of the Internal Regulations of the Central Bank of Brazil, annexed to Resolution BCB No. 340, of September 21, 2023, and considering the provisions of Article 2, caput, item III, of the Regulation annexed to Resolution BCB No. 1, of August 12, 2020,

RESOLVES:

Art. 1º This Instruction publishes version 2.2 of the Pix Execution Process Flow Manual, which comprises the Pix Regulation, as per Article 2 of the Regulation annexed to Resolution BCB No. 1, of August 12, 2020.

Sole Paragraph. The Pix Execution Process Flow Manual is available at the electronic address of the Central Bank of Brazil on the internet, on the page dedicated to the manuals that comprise the Pix Regulation: https://www.bcb.gov.br/content/estabilidadefinanceira/pix/Regulamento_Pix/III_ManualdeFluxosdoProcessodeEfetivacaodoPix.pdf.

Art. 2º Instruction BCB No. 631, of June 5, 2025, is hereby revoked.

Art. 3º This Instruction enters into force on February 1, 2027.

Ricardo Teixeira Leite Mourão

ANNEX TO INSTRUCTION BCB NO. 777 OF SEPTEMBER 18, 2026

Pix Execution Process Flow Manual Version 2.2

Revision History

Date	Version	Description of Changes
11/8/2020	1.0	Initial version.
10/9/2020	1.1	Adjustment in flow 2.3, regarding the generation of the payment order by Dynamic QR Code. The flow is exactly the same as the flow for generating the payment order by Static QR Code. After the payer user reads the Dynamic QR Code, the Payer’s PSP sends the key contained in the QR payload to the DICT. After the DICT returns, the Payer’s PSP presents the payload information and the payee user information to the payer user, requesting payment confirmation.
22/7/2021	1.2	Structure: insertion of subsection 2.1.3 “Payment Transaction Initiation Service Provider, with direct access to the DICT”. Structure: insertion of subsection 2.4 “Generation of the payment order by the payment transaction initiation service, in cases where the participant has all the payee user information”. Section 2.3: detailing of the step-by-step table, to better explain the process of generating the order by Dynamic QR Code.
29/9/2021	1.3	Adjustment in flow 2.2 “Generation of the payment order by Static QR Code” and in the table. Structure: insertion of subsection 2.3.1 “Pix Cobrança for immediate payment”. Structure: insertion of subsection 2.3.2 “Pix Cobrança for payment with maturity”. Structure: insertion of section 2.4 “Generation of the payment order for a Scheduled Pix by manual data entry or by means of a Pix key”. Structure: numbering adjustments in the subsequent subsection 2.5. “Generation of the payment order by the payment transaction initiation service, in cases where the participant has all the payee user information.”
29/10/2023	1.4	Section 3.1: adjustment in the explanatory text and in the flow to define the payment orders that must be sent to the primary message transmission channel of the SPI and to the secondary message transmission channel of the SPI. Section 3.2: adjustment in the explanatory text and in the flow to define the payment orders that must be sent to the primary message transmission channel of the SPI and to the secondary message transmission channel of the SPI. Section 3.3: adjustment in the explanatory text and in the flow due to the creation of the secondary message transmission channel of the SPI. Section 3.4: adjustment in the explanatory text and in the flow due to the creation of the secondary message transmission channel of the SPI.
30/08/2024	2.0	Section 3: inclusion of flows with scheduled settlement of the payment order (Scheduled Pix, Recurring Scheduled Pix, and Pix Cobrança with maturity). Structure: insertion of section 5 – Automatic Pix Flows. Structure: general review of the flows and explanatory texts.
05/06/2025	2.1	Structure: insertion of subsection 2.6 “Generation of the payment order by proximity (NFC)”. Section 3.1: adjustment in the explanatory text to include Automatic Pix among the payment orders that must be sent to the secondary message transmission channel of the SPI. Section 5: adjustment in the explanatory text to indicate the Automatic Pix flows that occur in the primary message transmission channel of the SPI and in the secondary message transmission channel of the SPI. Section 5.1.3.1: adjustment in the explanatory text to emphasize that the Payee’s PSP must wait for the completion of the immediate payment settlement flow before proceeding to the step of updating the recurrence status. Section 5.1.5.1: adjustment in the explanatory text to point out that after the cancellation of the recurrence, if there are pending schedules to be cancelled, the responsibility for their cancellation lies with the Payer user’s PSP. Section 5.1.5.2: adjustment in the explanatory text to point out that after the cancellation of the recurrence, if there are pending schedules to be cancelled, the responsibility for their cancellation lies with the Payer user’s PSP.
01/02/2027	2.2	Sections 2.4, 3.1, 3.1.2, 3.2.2, 3.3.2 and 3.4.2: adjustment in the explanatory texts to remove references to Recurring Scheduled Pix.

NOTE

Decree No. 10.411, of June 30, 2020, provides for the mandatory implementation of a regulatory impact analysis (AIR) for the issuance of normative acts of general interest produced by the bodies and entities of the direct and indirect federal public administration.

However, as defined in paragraph 8 of Vote 280/2021–BCB, of November 10, 2021, the Pix Regulation, including the other documents that comprise, detail, and complement it, do not constitute regulatory acts of coercive force, but rather have an eminently contractual nature. Thus, modifications made to said regulation and to the other documents that comprise, detail, and complement it are not subject to the prior production of an AIR.

Therefore, this Instruction is exempt from the prior production of an AIR.

Ricardo Teixeira Leite Mourão