It's time for all of us that travel to have 2 pins: the regular one, and a second one that notifies the issuer that the transaction happens at gunpoint, in which case the amount that can be taken is drastically reduced.
Brazil central bank to launch Pix installment feature in September
171–180 of 187 posts
Re: Brazil central bank to launch Pix installment feature in September
#172Earlier quoted context omitted.
I mean, the cashback is paid for out of the fees you pay for the service. In a world with low capped charges (EU etc) then you'll just pay less, which is equivalent to cashback and much fairer.
So long as the price is the same for cash and card (and Pix?), then you should pick the one that gives you the best kickbacks. I don't think capping CC fees will actually lower prices for consumers much (because merchants prefer round prices for psychological pricing). For evidence, see the fairly uniform pricing of products sold in euros between countries, despite varying vat rates between eurozone countries.
> see the fairly uniform pricing of products sold in euros between countries, despite varying vat rates between eurozone countries.
Huh, not sure I agree with that (the uniform pricing thing). I mean, one should believe that, but it doesn't appear to be true. For example, recently I saw a tablet for 208 euro (converted from GBP) on amazon.co.uk, approx 220 euro from amazon.de and 360 euro from amazon.ie, for the same item.
I was really surprised because I figured electronics would be pretty similarly priced across the EU/UK, but apparently not.
Re: Brazil central bank to launch Pix installment feature in September
#173Earlier quoted context omitted.
Systems like these are very common in Europe. Here in Norway, you can pay for almost anything, anywhere with Vipps. It works very similarly to Brazilian Pix. Another system I have used in the past is the Portuguese MBWay which although similar to Pix and Vipps, doesn’t seem to be as widely adopted as the former.
The problem is that most European schemes are country specific. As soon as you cross the border even to another European country, your options are pretty much cash or Visa/MasterCard.
Vipps now works across the Scandinavian countries, but I doubt it will be adopted by any other countries.
Re: Brazil central bank to launch Pix installment feature in September
#174Earlier quoted context omitted.
The problem is that most European schemes are country specific. As soon as you cross the border even to another European country, your options are pretty much cash or Visa/MasterCard.
There is nothing for the Euro zone?
There are maestro cards, bank cards that work very conveniently including with nfc, including with Apple Pay. Given that Apple Pay supports multiple kinds of cards.. my phone probably works almost anywhere..
Re: Brazil central bank to launch Pix installment feature in September
#175It's time for all of us that travel to have 2 pins: the regular one, and a second one that notifies the issuer that the transaction happens at gunpoint, in which case the amount that can be taken is drastically reduced.
This is called a duress pin and is implemented in alarm systems.
Re: Brazil central bank to launch Pix installment feature in September
#176Earlier quoted context omitted.
There is nothing for the Euro zone?
There are maestro cards, bank cards that work very conveniently including with nfc, including with Apple Pay. Given that Apple Pay supports multiple kinds of cards.. my phone probably works almost anywhere..
Maestro is owned by Mastercard (and are now being phased out for explicitly Mastercard branded cards). So like I said, cross border options are basically cash or Visa/Mastercard.
Re: Brazil central bank to launch Pix installment feature in September
#177Earlier quoted context omitted.
Russia is bigger and has its own system of instant payments SBP, which has now completely substituted Visa, Mastercard etc and has some presence in 8-9 other countries (depending on whether you count Abkhazia as a country or not) with 50 foreign banks supporting it.
Russia is bigger in area but not in population.
Can’t argue with that, but I was replying to a comment about area specifically :)
Re: Brazil central bank to launch Pix installment feature in September
#178On a technical level are there big differences between Pix and FedNow[0]? Besides this upcoming installment feature.
Re: Brazil central bank to launch Pix installment feature in September
#179Earlier quoted context omitted.
Mercado Pago is closer to PayPal than PIX. I'd say it's a generation behind Google Pay/Apple Pay.
This. Mercado Pago is also available in Brazil, and it requires you deposit funds in their own account to use. The thing about PIX most people don't get, including Europeans in this thread, is it integrates into whatever is your bank, so you can use your bank's cashing account to pay, no external app or account necessary.
I use Mercado Pago as my bank account, so I don't need to deposit anything as long as I have money.