191–200 of 397 posts
Read: The USA does not like what they cannot control!! I am glad to see the EU following Brazil with its own payment system. Visa/MasterCard/Paypal era is gone!!
I can see that Visa and Mastercard are freaking out, not because Pix can take over their business model, but because it can give ideas to other countries doing the same. I've spent three months earlier this year in Brazil and never used Pix once. Not because I didn't want, but because I couldn't, or let's be honest: my time was not worth the hassle. To be able to pay with Pix, one needs to get a CPF (Brazilian Tax ID…
on Europe there is talks about using Spanish's Bizum as the oficial European replacement for Visa/MasterCard
I can see that Visa and Mastercard are freaking out, not because Pix can take over their business model, but because it can give ideas to other countries doing the same. I've spent three months earlier this year in Brazil and never used Pix once. Not because I didn't want, but because I couldn't, or let's be honest: my time was not worth the hassle. To be able to pay with Pix, one needs to get a CPF (Brazilian Tax ID…
I can see that Visa and Mastercard are freaking out, not because Pix can take over their business model, but because it can give ideas to other countries doing the same. I've spent three months earlier this year in Brazil and never used Pix once. Not because I didn't want, but because I couldn't, or let's be honest: my time was not worth the hassle. To be able to pay with Pix, one needs to get a CPF (Brazilian Tax ID…
It's not ideal, but you can use Wise to pay using Pix and India's UPI. You simply transfer the money from your local bank account to Wise and they transfer to whatever Pix you tell. It's almost instant.
Meanwhile, there are talks about integrating these systems. This is the obvious long-term game, a clear threat to Visa and MasterCard.
Right now in Brazil the only advantages of using a regular credit card are the cashbacks and convenience to use contactless. The convenience is going away -- Pix now supports contactless payment, but it's not widely accepted yet.
I can see that Visa and Mastercard are freaking out, not because Pix can take over their business model, but because it can give ideas to other countries doing the same. I've spent three months earlier this year in Brazil and never used Pix once. Not because I didn't want, but because I couldn't, or let's be honest: my time was not worth the hassle. To be able to pay with Pix, one needs to get a CPF (Brazilian Tax ID…
Earlier quoted context omitted.
USD is a hard currency unlike the BRL. It is not supposed to move that fast by design. Google “Regulation E”. Brazil has no such strong provisions for protecting unauthorized transfers out of your account
> USD is a hard currency unlike the BRL How much does this matter in the context of paying in BRL, to a BRL merchant, in Brazil?
It is worth noting that despite all this cheap sovereignty talk from Brazil’s president, in practice Brazil would not be able to operate Pix at that scale without heavily relying on American hyperscalers companies. Brazilian institutions are paying hundreds of millions of dollars to US cloud providers, specially AWS, to be able to process that many transactions. Earlier this year, when sa-east-1 was down, major banks…
There is no explicit need for AWS in this. But it was probably easier to build since it is what we are used to.
Earlier quoted context omitted.
> Pix is already 100% surveilled And Visa and MasterCard aren't surveiled? Isn't one of their selling points that they surveil every transaction and automatically block anything suspicious? And increasingly, the parameters for suspicious include anything pornographic or even 'pornographic' (see: the bullying of steam to remove explicit games). At least with Pix, the costs get lower for the end users.
Of course they are. Theirs is a more corporate surveillance, though. I'm genuinely afraid of what the brazilian government can do with this sort of data.
I can see that Visa and Mastercard are freaking out, not because Pix can take over their business model, but because it can give ideas to other countries doing the same. I've spent three months earlier this year in Brazil and never used Pix once. Not because I didn't want, but because I couldn't, or let's be honest: my time was not worth the hassle. To be able to pay with Pix, one needs to get a CPF (Brazilian Tax ID…
Europe is already moving towards having own payment system with Wero