HomePayment MethodsPIX MED: A Pix Superhero Rescuing Users from Fraudulent Schemes

PIX MED: A Pix Superhero Rescuing Users from Fraudulent Schemes

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PIX MED (Mecanismo Especial de Devolução) is an exclusive Pix mechanism designed to smooth out fund reimbursements in the event of fraud, providing victims a better chance of retrieving their money. It is like a chargeback for PIX transactions.

Here is the drill: Users that have been taken advantage of by fraud, scams, or other illegal activity have 80 days from the Pix transaction date to submit a reimbursement request to their banking institution.

Here’s a step-by-step breakdown.

1. The user addresses their concerns with their banking institution.
2. If the case is deemed MED-worthy, the recipient’s Pix account will be temporarily restricted with a resource block.
3. A quick analysis begins; it can take up to 7 days. If the alarm is false, the recipient’s resources are allowed to proceed. However, if it’s a genuine fraud, the victim’s funds will be returned within 96 hours. This is why it is important to have a strong data-backed PSP behind your operation to help you dispute fraudulent transactions.

And, guess what? MED is more than simply a caped crusader fighting evil. It also steps in when your institution’s Pix system fails, such as when doing a duplicate payout transaction.

It performs a short check, and if there’s an issue, your money, as a merchant, is returned within 24 hours.

MED: converting Pix headaches into disappearing acts!

Alexandre Pereira
Driving Payment Success with Banks, Acquirers and Card Schemes 🏦💳 | Payments Strategy ♜💡 | Global Cross-Border Payments Expert 🌎 | Payment Partnerships 🤝 | Payment Consulting 📋🎯


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