According to information from the newspaper Estadão, the Central Bank of Brazil (Bacen), announced that Brazil's new instant payment system should be officially launched in November 2020. The measure will end TED and DOC transactions, considered " slow and expensive "by Bacen. The purpose of the Central Bank is to allow financial institution applications to transfer money using either QR Code or the mobile contact list.
According to the publication, the new instant payment platform may use Blockchain, although the institution has not confirmed this information. The instant payment system will connect more than 120 financial institutions registered with the regulator and is intended to enable real-time payment message transmission and funds availability to the final payee, available to end users 24 hours a day, for the whole year.