Cash or Pix: which is the best payment method?
Find out whether it's better to use cash or Pix to make payments!
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Cash or Pix: which is the best option for making purchases?
Obviously, one method does not replace the other. After all, you can have one or more Pix keys and still use physical money in your daily life.
But to help you, we’ll explain the advantages of these two payment methods in more detail! Keep reading to find out more.
What is Pix?
Pix is an electronic means of payments and bank transfers.
The Central Bank (BC) officially instituted Pix and approved its regulations in 2020.
This payment method has certainly changed our financial routine.
Previously, when making a transfer, you had to wait for the money to reach the other person's account.
Another disadvantage for the consumer was the fees charged on transfers made from one bank to another.
After Pix came along, that changed. Now, you can make transfers in just a few seconds and without paying anything extra for it.
Will Pix replace cash?
Without a doubt, the Brazilian instant payment system has transformed the way we make electronic transfers..
Although it will not completely eliminate transfers via TED and DOC, there is no doubt that Pix will grow even more.
But after all, will this payment method put an end to cash once and for all?
In fact, there is no doubt that technological tools are extremely useful when making a purchase in a physical establishment or in an online store.
However, Pix will not completely eliminate physical money, at least not anytime soon.
According to a survey carried out by the National Confederation of Shopkeepers (CNDL) and the Credit Protection Service (SPC Brasil), in partnership with Sebrae, physical money remains the payment method most used by Brazilians. In second place is Pix.
There is no doubt that digital payment methods have gained traction during the pandemic.
But between cash or Pix, we can't say that one is better than the other. After all, both have their advantages and are the most used payment methods in Brazil.
What are the main advantages of Pix?
Do you remember what life was like before Pix?
This tool has made Brazilians' daily lives more practical, thanks to the possibility of sending and receiving money even on holidays and weekends.
The number of transactions carried out through Pix surprised many financial institutions.
In fact, more than 61.4% of Brazilians already use Pix.
Want to find out why it’s so successful? Then check out the main advantages of Pix:
Available anytime
Pix is available 24 hours a day, 365 days a week.
In other words, you no longer need to wait for the business day to arrive to receive the money that was transferred to your account.
Without a doubt, this is the main benefit of Pix.
More security
The entire process is digital and encrypted.
Pix is protected by the Central Bank. Authentication and encryption security tools, which were already used in other payment methods, were also adopted by Pix.
Furthermore, the transactions are traceable. This means that the institutions involved, at the request of the competent authorities, can identify the account holders of all financial transactions carried out via Pix.
Less costs
Bank transfers via DOC and TED, in addition to taking longer, have certain costs (depending on the bank).
With Pix, you don't pay anything to make transfers or pay establishments.
Pix withdrawal and Pix change resources
Have you heard about Pix's new features?
They can be used when you need physical money.
Pix withdrawal allows customers to make withdrawals at commercial establishments that offer the service.
Basically, it works like this: you will carry out a transfer operation via Pix by reading the QR Code presented by the establishment.
I already change Pix It works in a similar way. The difference is that in this case, there is a need to make a purchase at the commercial establishment.
For example, imagine that you made a purchase that cost R$30.00. Now, you will make the payment via Pix for the amount of R$50.00. This way, you will receive the “change” of R$20.00 in cash.
What are the main advantages of cash?
Even with the technology and convenience offered by online payment methods, most Brazilians tend to make payments using cash.
After all, physical money still brings many advantages to the consumer, such as:
Expense control
Physical money helps you have greater control over your budget.
In fact, this is one of the main tips for those who want to save money and avoid compulsive shopping.
Because with the money in your hands, you know exactly how much you have and how much you can spend.
Cash discounts
Most establishments offer discounts to customers who pay in cash.
Therefore, physical money helps you save money and have greater negotiating power when making a purchase.
No fees charged
This is one of the main advantages of using cash, which benefits both the owner of the establishment and the consumer.
By receiving the value of the product or service in cash, the store owner will not need to worry about some fees, which are charged on the credit card, for example.
Access to places that do not accept cards
It is increasingly difficult to find an establishment that does not accept debit or credit cards.
Even so, there are places where physical money is the only method of payment.
Conclusion
Cash or Pix: which is the best option?
Pix is obviously the most practical option for making transfers and online purchases. However, both are good payment options.
For a more peaceful financial life, the most important thing is that you always control your spending and avoid compulsive shopping!
