Caixa launches installment Pix, recipient gets full amount instantly

Brazil's state-owned bank Caixa begins offering an installment payment option for Pix, its instant payment system, allowing payers to split transactions while recipients receive full value immediately. This is a product innovation in Brazil's rapidly expanding instant payments landscape, potentially boosting credit usage and consumer spending. The move follows similar offerings by other Brazilian banks and could accelerate Pix's role in e-commerce and higher-value transactions.