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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

#331

Post by cesarb »

aembleton wrote: post #314
fdgjgbdfhgb wrote: post #88

Earlier quoted context omitted.

You use your bank's phone app. You can scan a QR code or you can send money to someone if you know their "id string", like a phone number, an email or a random string of numbers - you choose the "id string" format you want, and you can have different "ids" linked to different bank accounts. There are no physical cards.

What happens if you miss-type the email or phone number when making a payment? Is there any confirmation of the persons name?

> Is there any confirmation of the persons name?

Yes, and it's a small privacy leak in Pix: it shows the person's name and part of their CPF.

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

#332

Post by owebmaster »

whimsicalism wrote: post #316
paintbox wrote: post #54

Earlier quoted context omitted.

It's a question of national security not to let Meta eat that cake, and Brasil made the right choice. Tangentially related, I've heard talk of EU alternative to VISA and Mastercard, which I also believe is the right direction.

i hate this expansion of national security justification and securitization rhetoric - whether it is the US justifying tariffs or deportation or Brazilians justifying no fair play under the law or trying to jail presidential candidates.

> or trying to jail presidential candidates.

not trying, jailing. Soon, we will have the second jailed presidential candidate in less than 10 years. Many Brazilians do believe that this is a sign that the Justice System is working, tho.

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

#333

Post by lucasoshiro »

djrj477dhsnv wrote: post #296
lucasoshiro wrote: post #274

Earlier quoted context omitted.

This post is about how Brazil created a universal payment technology that most richer countries don't even dream to have. And a technology that works, is free, easy to use, and become part of reality of country that, despite having several tech companies, isn't exactly recognized (yet) as big player in the tech scenario. And you keep repeating these old-fashioned stereotypes?

Huh? What stereotype? It was an honest question that I haven't heard a good answer for how black market payments will work as societies go cashless. In the US, it seems that 3rd party systems like Venmo are lightly monitored when it comes to payments for minor crimes. But I imagine that would change when there is a single government controlled payment system with total transparency.

> It was an honest question

Sorry if I misunderstood you, but just as tip, make it clear in your question. Probably the downvotes are from people who are tired of having Brazil being associated with drugs, crime, corruption and sex while it is a giant country with so many things to offer, and with so many hard working people doing their best.

But answering: just like any other country. Cash, jewels, money laundering, etc. Pix is not a replacement (at least so far) for cash, is just a modern option. And I really question if it will be someday a full replacement. Pix is amazing, but for a daily use (in restaurants, physical stores, etc) it is still more practical to pay using cards as Pix takes a little time to grab the phone, opening the bank app, scanning the QR code, typing the PIN and hoping that the internet connection is good enough for that

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

#334

Post by paleotrope »

tetris11 wrote: post #322
olalonde wrote: post #282

Earlier quoted context omitted.

> I've even had homeless people ask me for Pix instead of change on multiple occasions. Sounds like WeChat Pay. It's been years now that beggars in China only carry QR codes. > Cryptocurrencies don't stand a chance. They solve a different problem or have the potential to: predictable/unbiased money issuance and on/off ramp for payment platforms.

I wish the homeless in London did this, I'd happily give a few pounds here and there if it were easy to. Back when I had cash on me at all times, I would think nothing of it, just toss a coin. Now in our cashless society, I found myself at a loss to do anything about the people suffering in front of me

You could donate to your chosen homeless assistance charity and just carry cards that explain how to get assistance from the same org.

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

#335

Post by yetihehe »

01HNNWZ0MV43FF wrote: post #196
yetihehe wrote: post #18

Earlier quoted context omitted.

> I receive a push notification from my Brazilian bank before Wise finishes running the animation of confirmation of withdrawal. It's like magic. After I had to add a special animation for one email system so that user was sure that "the core functionality of encrypting" was indeed working (it took milliseconds in reality), your experience doesn't surprise me that much. But, in my "IoT" system we have a mix of device…

Even if it's free, doesn't it have to put the ticket cookie in some database?

Other machines can do it with single roundtrip (2s pause between pressing and printing). That one single manufacturer is slower than everyone, but hey, maybe the app (which requires location, phone number and vehicle number) will be faster?

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

#336

Post by mixmastamyk »

leereeves wrote: post #279
Xunjin wrote: post #235

Earlier quoted context omitted.

The world needs to implement Pix. I truly believe that is a system which can replace SWIFT with just a intermediary, with a virtual currency that exchange rate between the 2 countries in the operation, this way the world can have a freedom outside dollar and really fast transactions.

I'd hate to see a system like that where I live, because the government will abuse it. We've already seen Canada freeze bank accounts of protestors, and US officials put protestors on the no fly list.

The govt already has full access to your bank account! Always did and KYC ended privacy.

Preventing convenient payment technology only hurts the rest of us. If you want redundancy buy gold coins.

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

#337

Post by abecedarius »

cesarb wrote: post #331
aembleton wrote: post #314

Earlier quoted context omitted.

What happens if you miss-type the email or phone number when making a payment? Is there any confirmation of the persons name?

> Is there any confirmation of the persons name? Yes, and it's a small privacy leak in Pix: it shows the person's name and part of their CPF.

That doesn't sound small?

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

#338

Post by babypuncher »

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…

I've been saying for over a decade that crypto makes no sense for micropayments and the only reason traditional methods don't work is because they are run by rent-seeking middlemen like VISA.

Watching the Indian and Brazillian governements solve this problem by by building the payment networks themselves and removing the profit incentive has felt vindicating.

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

#339

Post by skeletal88 »

Xunjin wrote: post #235
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 world needs to implement Pix. I truly believe that is a system which can replace SWIFT with just a intermediary, with a virtual currency that exchange rate between the 2 countries in the operation, this way the world can have a freedom outside dollar and really fast transactions.

Europe has SEPA payments. They are very fast and reliable, and separate from Swift.

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

#340

Post by cubefox »

derelicta wrote: post #290
cubefox wrote: post #223

Earlier quoted context omitted.

That's not true. See https://de.m.wikipedia.org/wiki/Deutscher_Wetterdienst

Oh well! Good to know! Next time I'll use DWD instead of using those weird apps. Thanks!

No the DWD is not allowed to provide a weather app I believe. Because it would compete with commercial apps. It offers an app which issues weather warnings though.
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