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BTG Pactual is one of the largest investment banks in Latin America. It operates as a direct participant in Brazil’s Pix ecosystem. Through its Banking as a Service (BaaS) infrastructure, BTG connects indirect participants to BACEN’s SPI and DICT. SPI is the Instant Payment System. DICT is the directory of transactional account identifiers.

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BTG’s role in the Pix ecosystem

As the direct participant, BTG handles the layers that require regulatory licensing and direct BACEN integration:
  • SPI connectivity — Sends and receives Pix payment and refund messages through BACEN’s real-time settlement infrastructure
  • DICT access — Manages Pix key lookups, registrations, and claim resolutions at the BACEN directory level
  • Settlement and liquidity — Processes financial settlement between institutions through BACEN’s infrastructure
  • Regulatory compliance — Maintains the certifications, audits, and operational requirements BACEN mandates for direct participants
  • Webhook notifications — Delivers real-time event callbacks for transaction status changes, key events, and dispute updates
  • mTLS security — Provides certificate-based authentication for secure webhook communication
Your institution retains full control of its ledger, customer data, business rules, and operational infrastructure. BTG provides connectivity — not account management.
Beyond standard transfers and DICT operations, the plugin supports the advanced Pix flows BACEN requires:
  • MED 2.0 Funds Recovery — Track fraudulent fund movements across accounts and request coordinated refunds
  • Distributed partial refunds — Return one refund debited from several internal accounts in a single operation
  • Intra-PSP (P2P) transfers — Settle internal transfers without BTG and report them to BACEN through TRCK002
  • Unblock — Recover refunds or transfers stuck in PROCESSING

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Why BTG

BTG brings specific advantages as a direct participant for Pix operations:
  • Production infrastructure — BTG already operates at scale in the Pix ecosystem
  • Built-in BTG integration — The plugin includes support for BTG’s APIs, authentication, and event model. You do not build custom middleware
  • Faster launch — BTG absorbs the regulatory and infrastructure complexity, so your institution launches Pix sooner
  • Simplified onboarding — BTG provides credentials directly when your institution signs up for indirect BACEN integration. You do not need a separate certification process

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Next steps

With this context, explore how to configure and operate the plugin with BTG: