A PIX transaction, in the Brazilian instant payment ecosystem, is a fast and secure method to transfer funds between accounts in real-time, 24/7, including weekends and holidays. It's facilitated by the Central Bank of Brazil's innovative infrastructure, allowing for seamless transactions across different financial institutions.

It allows users to transfer money or make payments in several ways, using:

  • DICT Keys: Unique identifiers such as email, phone number, CPF (Individual Taxpayer Registry Number), or CNPJ (National Registry of Legal Entities) that are linked to a bank account.
  • QR Codes: Dynamically or statically generated codes that contain transaction information.
  • Bank Instructions: Entering the recipient's bank account details manually if a DICT Key or QR Code is not available.

Understanding PIX Transaction States

In the PIX payment system, transactions undergo various states from initiation to completion. The DEBIT and CREDIT transactions each follow distinct paths:

DEBIT Transactions

Initiate in the CREATED state, from which they can either successfully transition to COMPLETED or end in FAILED due to issues such as insufficient funds or network errors. When transactions fail, a reason object is attached to the state, detailing the cause with a reasonCode. Possible reasonCodes include UNFINISHED ("Transaction could not be finished.") and CANCELED ("Transaction was canceled.").

CREDIT Transactions

Uniquely begin in the COMPLETED state, indicating that these operations are only persisted in our database when they are already completed. This approach streamlines the processing of incoming funds, ensuring that only successful transactions are recorded.