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Brazil's government-run payments system has become dominant

economist.com

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Re: Brazil's government-run payments system has become dominant

#201

Post by guax »

Galatians4_16 wrote: post #125

Despite a global move towards a cashless society, 54% of Brazilians now opt for cash withdrawals.¹ 2024 has seen a surprising reversal, as cash usage makes an unexpected comeback , defying predictions that the world was moving toward a cashless society. With rising cybersecurity threats, concerns over financial privacy, and economic instability, consumers and businesses are increasingly turning back to physical curre…

I believe it's more related to economic crisis and informal work (tax evasion). Brazil is very cashless for normal transactions.

Re: Brazil's government-run payments system has become dominant

#202

Post by desiderantes »

anal_reactor wrote: post #184
yetihehe wrote: post #143

Earlier quoted context omitted.

More likely it was written by some cheap interns and requires getting unique ticket id from server for "controlling" purposes. Then there is one part time employee (met him, small talked a little) who goes from car to car with terminal and checks if those tickets are valid. I have some experience with gprs systems here, so probable flow: - press button - gprs roundtrip about button press with "no payment, free ticket…

More likely a parking machine needs to be accessible to all users, and some people get confused when technology works too fast.

Perhaps if you get confused by fast things you shouldn't be driving?

Re: Brazil's government-run payments system has become dominant

#203

Post by Perizors »

accurrent wrote: post #149
SwiftyBug wrote: post #8

I've been living in Brazil for the last 20 years. Pix revolutionised the way we transact in Brazil. I've used Pix to pay for things that cost only cents, and I have a friend who bought her house using Pix. The system just works for any transfer amount. And it's so easy to use. Its speed is truly baffling, and so is its reliability. Never have I failed to make a Pix payment because of downtime. I never cease to be ama…

While I agree cryptocurrencies don't stand a chance, my experience with qr systems has been a mixed bag. The country I live in has a fairly good qr code payment system. But there was one day when the largest bank went down and that was chaos (cash very much has a role to play). We also supposedly have linkage with India's UPI. Unfortunately, it was impossible for me to actually use that linkage thanks to the way upi…

In the case of Brazil, besides QR codes, you can also make payments using the user unique key, which can be its phone number, social security number, email or a random generated key.

Re: Brazil's government-run payments system has become dominant

#204

Post by cesarb »

Perizors wrote: post #203
accurrent wrote: post #149

Earlier quoted context omitted.

While I agree cryptocurrencies don't stand a chance, my experience with qr systems has been a mixed bag. The country I live in has a fairly good qr code payment system. But there was one day when the largest bank went down and that was chaos (cash very much has a role to play). We also supposedly have linkage with India's UPI. Unfortunately, it was impossible for me to actually use that linkage thanks to the way upi…

In the case of Brazil, besides QR codes, you can also make payments using the user unique key, which can be its phone number, social security number, email or a random generated key.

> you can also make payments using the user unique key, which can be its phone number, social security number, email or a random generated key.

And you can also use the bank account number, effectively replacing older bank transfer mechanisms like DOC and TED.

Re: Brazil's government-run payments system has become dominant

#205

Post by theideaofcoffee »

SwiftyBug wrote: post #8

I've been living in Brazil for the last 20 years. Pix revolutionised the way we transact in Brazil. I've used Pix to pay for things that cost only cents, and I have a friend who bought her house using Pix. The system just works for any transfer amount. And it's so easy to use. Its speed is truly baffling, and so is its reliability. Never have I failed to make a Pix payment because of downtime. I never cease to be ama…

It’s truly remarkable and makes any interaction with a US-based payment system look ancient in comparison. One to two business days to make an ACH? Ugh, please. People still using paper checks? Get with the times.

Re: Brazil's government-run payments system has become dominant

#206

Post by nirui »

I'm thinking, maybe controversially, centralized national payment service like this should be government-run based on my experience with Alipay which is a digital payment service in China.

Due to it's commercial origin, Alipay is filled with unwanted ads and traps. Almost every time I made a payment with it, a pop up prompts me to enlist their Ant Financial LOAN service either now, or being prompted for the same question again 30 days later (yep, not Yes or No, but Now or Later). It's just fucking ridiculous, I don't need a LOAN for a $400 projector, and I don't need a LOAN for a $4 hair cut (Xi should probably do something about it, really).

I'm glad that at least people of Brazil don't have to suffer that kind of shit. At least their government-run program is better scrutinized and boring, thus more dependable, that's a good thing in my eyes.

Re: Brazil's government-run payments system has become dominant

#207

Post by carlosjobim »

jowea wrote: post #28
afarah1 wrote: post #15

WhatsApp is omnipresent for communication in Brazil, and WhatsApp Pay was ready before Pix, but the government blocked the launch to launch Pix first.[1] I rarely see this mentioned. [1] https://www.reuters.com/article/technology/brazil-suspends-w...

Well I'm thanking the government for saving us from yet another Facebook monopoly thorough first mover advantage and network effects.

Good to hear your words loyalty and patriotism, dear citizen! I will contact your local commissar and make sure he increases your social credit score by 5 points.

But we must also be realistic if we want to win against our eternal enemy Eastasia, and admit that Facebook coin would never be a monopoly because Visa, Mastercard and cash exist.

Re: Brazil's government-run payments system has become dominant

#208

Post by cesarb »

xenospn wrote: post #178
accurrent wrote: post #149

Earlier quoted context omitted.

While I agree cryptocurrencies don't stand a chance, my experience with qr systems has been a mixed bag. The country I live in has a fairly good qr code payment system. But there was one day when the largest bank went down and that was chaos (cash very much has a role to play). We also supposedly have linkage with India's UPI. Unfortunately, it was impossible for me to actually use that linkage thanks to the way upi…

QR codes are problematic. First of all, you can’t really verify it with your naked eye. It can take you to a fake site that looks just like the original. Using phone numbers is vastly superior.

> It can take you to a fake site that looks just like the original.

At least with PIX, you scan the QR code directly on your online banking app, so there's no risk of going to a "fake site" (and the app also displays the information extracted fron the QR code, it's not a blind payment).

Re: Brazil's government-run payments system has become dominant

#209

Post by guax »

trollbridge wrote: post #10

Standard workflow in Brazil: - You need to buy something from person XZ, whether an individual, small business, or huge business. - XZ sends you an invoice (including relevant taxes). - You pay the invoice. XZ knows you’ve paid. - At year end you can download all your invoices, including any taxes already paid, for doing your taxes. (Brazil taxes make American taxation look simple.) Standard workflow in America: - “D…

This is misleading and borderline false.

Most people don't have to do much during tax season nor keep any receipts. You download the declarations of your bank, receive one from your work. Fill them out on a free software and you're done in 15min.

Only gets somewhat complicated If you have lots of deductibles and you have to prove them, that's the same everywhere.

Re: Brazil's government-run payments system has become dominant

#210

Post by IG_Semmelweiss »

SwiftyBug wrote: post #8

I've been living in Brazil for the last 20 years. Pix revolutionised the way we transact in Brazil. I've used Pix to pay for things that cost only cents, and I have a friend who bought her house using Pix. The system just works for any transfer amount. And it's so easy to use. Its speed is truly baffling, and so is its reliability. Never have I failed to make a Pix payment because of downtime. I never cease to be ama…

The good thing is that Pix shows it will work for many, many years.

The bad thing is that Pix shows it will work for many, many years.

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