Suspension will come into effect from March 16th; customers will continue to make withdrawals normally at the units
A will suspend Pix Saque and Pix Troco services at lotteries in Brazil on March 16th. CAIXA communicated the decision to the lottery units at the end of February.
In an official note, CAIXA informed that “the suspension of Pix Saque and Pix Troco services in Lotéricas will come into force from March 16th”. The bank further clarified that “bank brokers will continue to make withdrawals normally in the lottery network, without any changes”and that “all services available at lottery outlets can be consulted on the bank’s website”.
“Caixa informs that the suspension of Pix Saque and Pix Troco services at Lotéricas will come into force from March 16th. We clarify that bank account holders will continue to make withdrawals normally from the lottery network, without any changes. All services available at lottery outlets can be checked on the bank’s website”, states to note.
According to Veja, the (Brazilian Federation of Lottery Companies) assesses that the suspension will cause “significant economic imbalance” to companies in the segment. Thousands of small business owners with permission depend on the movement generated by banking services to guarantee the financial viability of their businesses.
The suspension covers all lotteries in Brazil that offered Pix Saque and Pix Troco services. The decision has a national impact. The repercussions are especially relevant in municipalities where lottery outlets represent the only face-to-face financial service point available to the population.
Also according to the report, the president of the federation, Ricardo Amado, stated: “Saque Pix expanded the reach of the national financial system and strengthened the social role of lottery companies as the main channel for banking inclusion in Brazil”. He also says that the suspension compromises “operational revenues, reduces the flow of customers and weakens the maintenance of jobs in hundreds of municipalities, especially in the most needy regions”.
O Poder360 contacted Febralot by email and called Febralot, but we had no response until the publication of this report.
