The comparison between Pix and Zelle, a payment system in the United States, gained repercussions on social media following a statement by federal deputy Eduardo Bolsonaro (PL-SP). In a video that circulated this Thursday (4th), the parliamentarian stated that Zelle would be the American equivalent of Pix and suggested that the existence of similar mechanisms in both countries could serve as an argument in possible negotiations between Brazil and the United States.
The speech comes amid controversy involving criticism from President Donald Trump’s government of Pix. In a document released by the Office of the United States Trade Representative (USTR), the Brazilian system appears among the points questioned by the Americans, under the allegation that the Central Bank acts simultaneously as regulator and operator of the platform.
Although both allow fast digital transfers between users, experts point out that there are significant differences between the two models. The main contrast is in the scope and operating structure.
Pix was created by the Central Bank and launched in 2020 as a public infrastructure for instant payments. In addition to developing the technology, the monetary authority also regulates the system and establishes participation rules for banks, fintechs and other authorized financial institutions.
Zelle was launched in 2017 by a private initiative. The platform belongs to Early Warning Services, a company controlled by some of the largest American banks, including Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, US Bank and Wells Fargo.
In practice, this means that Pix has a broader reach within the Brazilian financial system. Any institution authorized by the Central Bank can offer the tool to customers. Zelle, in turn, depends on banks joining the private network. The service is currently available on more than 2,400 bank and credit union apps in the United States.
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Another relevant difference is the variety of uses. While Zelle is mainly aimed at transfers between people and small businesses, Pix was developed to function as a more comprehensive payments platform.
In addition to transfers between users, the Brazilian system allows payments in physical and virtual stores, payment of consumer bills, collection of taxes, payment of bills and operations between companies.
This versatility is highlighted by financial sector analysts as one of the main advantages of the Brazilian model. According to experts interviewed by g1, Pix was conceived as a national payments infrastructure capable of replacing different means of transfer and collection, while Zelle operates in a more limited way.
There are also differences in relation to costs. Pix is free for individuals in most operations. For companies, fees are usually lower than those charged by other payment methods. In the case of Zelle, the charge depends on the policies adopted by each participating bank, although most institutions do not charge fees to consumers.
When it comes to security, the two systems have different rules. Zelle allows you to cancel a transfer only when the recipient is not yet registered on the platform. Once money is sent to a registered account, the transaction cannot be reversed.
Pix has the so-called Special Return Mechanism (MED), created to help victims of scams and fraud. The resource does not guarantee reimbursement of the amounts, but it allows financial institutions to analyze the case and try to recover the funds when there is still a balance available in the accounts involved.
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The Brazilian system also has a specific functionality for returning amounts sent by mistake, allowing the recipient to make the refund directly through the banking application.
Although the Central Bank is studying alternatives to enable international transfers in the future, both Pix and Zelle currently remain restricted to domestic operations carried out within their respective countries.
As it brings together greater integration with the financial system, more usage possibilities and a standardized public infrastructure, Pix is considered more comprehensive than Zelle, despite both having been created with the aim of facilitating instant electronic payments.
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