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Brazil's Pix payment system faces pressure from Visa and Mastercard

elciudadano.com

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Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#391

Post by Daedren »

pcardoso wrote: post #19
Daedren wrote: post #12

Earlier quoted context omitted.

PSD2 is merely a framework for an uniform access to banking, same APIs everywhere. While you can send money through it, it's still through the same means as normal. Many of the european countries have their own "Pix", but there's no European-wide alternative. The ECB wants to make one (tentatively titled "digital euro"), but it's going to take a long time to come out.

There are plans for interoperability between the various European payment apps. My local app (MB Way, PT) can be used to send money to Spain and Italy. Others will follow. https://www.mbway.pt/a-interoperabilidade-e-o-futuro-dos-pag... (link in portuguese)

Yes but this is merely an abstraction of SEPA Instant transfers to not have to write an IBAN when sending money.

The issue to solve is payments, Portugal for instance has its Multibanco payment scheme, but it's only used in Portugal. I assume eventually it'll be cobranded with Wero like it happened to Netherlands' iDEAL and eventually fully replaced.

Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#392

Post by pkphilip »

thefossguy69 wrote: post #229
pkphilip wrote: post #98

India's UPI is also extremely quick and easy to use - instant transfers with just the person's phone number or via a QR code or via a UPI id which looks like an email id. We are talking about 19-20 billion transactions per month. Apart from UPI, there are other interbank transfers methods such as NEFT, IMPS, RTGS etc. All quite convenient and easy to use.

Online UPI is IMPS, with a good UX

There is a transaction charge for IMPS which is not there for UPI. Also, IMPS only works against already pre-approved bank accounts

Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#393

Post by registeredcorn »

hulitu wrote: post #358
registeredcorn wrote: post #302

Earlier quoted context omitted.

> in reality it was because Visa and MC had taken over all the POS market Do you happen to have any insight on this? I mean, how is it that one or two companies can manage to squeeze everyone else out so completely? If two big players control Point of Sales (POS), shouldn't someone be able to come in and make a business out of underselling the competition? I would think that smaller overhead means smaller margins are…

> how is it that one or two companies can manage to squeeze everyone else out so completely? Like everywhere: lobby and corruption. Works like a charm. Being based in the "World policeman" also helps.

Do you mean that they have lobbied virtually all countries though, or what? I don't understand how they can be so dominant on a kind of global scale. I suppose there may be some places where they are not (I.e. North Korea, and a few other outliers) but I would assume they do have a certain amount of broad, global reach. Have they really just managed to bribe/make "friends" with (almost) every country on the planet?

Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#394

Post by registeredcorn »

bilekas wrote: post #363
registeredcorn wrote: post #302

Earlier quoted context omitted.

> in reality it was because Visa and MC had taken over all the POS market Do you happen to have any insight on this? I mean, how is it that one or two companies can manage to squeeze everyone else out so completely? If two big players control Point of Sales (POS), shouldn't someone be able to come in and make a business out of underselling the competition? I would think that smaller overhead means smaller margins are…

> If two big players control Point of Sales (POS), shouldn't someone be able to come in and make a business out of underselling the competition When your business depends on a customer focused payment, your primary goal is reach, more possible customers, bigger market. If a competitor or offering lower fees, it's still fees, of which those userbase might cross over. I hate this framing of the problem as a "well it's…

Thanks for the response. I'm not quite getting it though. Are you saying something like, "If there are fees, the amount of those fees between A, B, and C are relatively inconsequential"? Or something else? I would think that if I am shop owner, I want to get as much of the sale as I can. So, if Company A and Company B both want 7%, but Company C only wants 4%, I'm going to switch from A/B to C as soon as I can. I don't get why there isn't a Company C trying to snag more shops in that way.

I'm also not very well versed in what you mean about Steam; are there specific types of games that Visa and MasterCard have prevented them from selling recently? I've used that service for a number of years now, and usually the only titles I don't see on there are ones that have some kind of exclusivity deal either with a gaming console, or with Epic or whatever. I know that they had some controversy a while back over the game "Hatred".

I have also been a little grossed out at the amount of Hentai-like content they've started to allow on their platform, but once I turned on the "Hide adult-content" setting, and setup a few additional filters, it's been pretty painless for me. Is there other types of games that they want to sell, but have been prevented from selling?

Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#395

Post by fmobus »

ric2b wrote: post #380
fmobus wrote: post #65

Earlier quoted context omitted.

How many transactions can you ran per second on major coins like BTC?

Depends on what you mean, if using batching technologies like Lightning Network it is theoretically unlimited. If you mean on the globally replicated and stored forever blockchain, I think it's 50/s or something like that.

I keep hearing those marvels about how lightning network solves everything and gives everyone a pony, but it is currently estimated to perform about 200k transactions per day.

Pix achieves literally a thousand times that.

Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#396

Post by dd_xplore »

jeroenhd wrote: post #151
dd_xplore wrote: post #143

Earlier quoted context omitted.

In some setups UPI doesn't even internet! Just an SMS is sufficient

I can see the usability aspect, but using an insecure protocol like SMS for something like payment sounds like an absolutely awful idea. RCS might work as it's a bit more secure (and more importantly: doesn't have a 2G/3G compatible version that criminals might trivially abuse); it even has an optional money sending API in its protocol.

The wallet doesn't allow you to keep more than ₹2000

Re: Brazil's Pix payment system faces pressure from Visa and Mastercard

#397

Post by SomeUserName432 »

trollbridge wrote: post #339
bleepblap wrote: post #279

Earlier quoted context omitted.

Calling a CPF a "tax ID" is a bit misleading, much like calling an SSN "the way you get social security benefits". You can (even as a non-citizen) get one in a couple mins at the post office, and it's used for literally everything, including things like buying a SIM card or registering for some public WiFi hotspots.

Okay, that's quite a bit less bureaucratic than American EIN, ITIN, or SSN (collectively known as TINs). How many digits/letters long is it? One problem with American TINs is the entire space is only a billion digits, so it's not possible to assign one to every person in the world. If we could add two more digits or make 3 alphanumeric, it would be a lot more feasible to do this, but that is basically impossible at t…

> How many digits/letters long is it

nnn.nnn.nnn-nn

A CPF is nationally unique.

You also have a RG/RNE which is unique per state. Not too often you get asked for this one though.

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