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Brazil central bank to launch Pix installment feature in September

reuters.com

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Re: Brazil central bank to launch Pix installment feature in September

#71

Post by miltava »

brainwad wrote: post #51
miltava wrote: post #46

Earlier quoted context omitted.

It could give cashback if it cost 3% of the transaction. But it’s it’s actually much cheaper. For credit cards you have to pay for the brand, the issuer and the acquirer. And each gets a nice cut.

Reducing merchant fees seems like a mistake if you are in competition with both cash (which has high intrinsic merchant costs) and credit cards (which has low intrinsic costs, but which are padded so they're closer to the costs of cash, with consumer cashback coming out of this padding). I'm certainly not going to _choose_ to receive less cashback, as a consumer.

Pix costs are very low and the fee for the merchant as well. They pay less for it and get the money instantly. That’s why many small merchants only accept pix and some big merchants offer discounts for payments using it.

Re: Brazil central bank to launch Pix installment feature in September

#72

Post by renrutal »

jabjq wrote: post #62
ojosilva wrote: post #3

This is hands down one of the best instant payment platforms at the moment. Only India's UPI can match it in features, and China and Thailand in adoption. Most Western countries have had a (somewhat timid) taste of instant payments, but most don't know what it means to just drop credit and debit cards and cash altogether for a system that is not just universally adopted (from apps to flea markets to online payments a…

The best instant payment system is cash. It allows the merchant to skip the taxes too. Unbeatable.

Cash is a hassle. It requires everyone to have change. You need to count the money, the cashier needs to count the money and store it. The line behind you gets longer. The end of day close-out process is longer.

Brazilians also generally don't like to walk with cash in their pockets. Only politicians usually do it, but in their underpants.

The pros is that cash is analog, no battery, internet connection or digital system needed to process it.

Re: Brazil central bank to launch Pix installment feature in September

#74

Post by mvieira38 »

ozgrakkurt wrote: post #59
jt2190 wrote: post #50

Earlier quoted context omitted.

> … CCs should be an exception, not the norm they are now, with a bunch of embedded costs we all pay for, one way or another. To spell it out, the merchant pays fees to the payment processor and carries risk (chargebacks, etc) and these costs are included (“embedded”) in the purchase price of whatever you’re buying. Moving to instant pay moves these risks to the purchaser, which is probably not ideal for the merchant…

It is just better in my experience. You just scan a QR code and pay. Not much point of using a credit card unless you want to spend money that you don’t have. Or to think you are making “points” by spending more money

You're wasting a relevant amount of money by not using a credit card in Brazil. Interest rates are so high right now they have reached 1% monthly, which you can pocket by just delaying payment on everything for a month. And credit is stupid cheap here, too, with a bunch of different picks for free credit cards giving thousands of reais for anyone.

If you have some money you can easily get a card with high cashback, as well, in the 1%+ territory depending on if you want big banks or not, and pay no fees.

Re: Brazil central bank to launch Pix installment feature in September

#75

Post by renrutal »

mrisoli wrote: post #60
rcruzeiro wrote: post #17

Earlier 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.

Interestingly, I've spotted a few places in Portugal already accepting Pix as a form of payment, catering to a large demographic of Brazilian immigrants and tourists.

There is no PIX in Portugal, or places other than Brazil.

What they have there is a Brazilian person receiving payments from another Brazilian person, only through Brazilian accounts, all happening remotely in Brazil(at least for now)

Re: Brazil central bank to launch Pix installment feature in September

#76

Post by mlinhares »

ojosilva wrote: post #3

This is hands down one of the best instant payment platforms at the moment. Only India's UPI can match it in features, and China and Thailand in adoption. Most Western countries have had a (somewhat timid) taste of instant payments, but most don't know what it means to just drop credit and debit cards and cash altogether for a system that is not just universally adopted (from apps to flea markets to online payments a…

Developed countries (like the US) do have these capabilities, there's fed now in the US, but the banks have captured the government apparatus so that the government can't force it to become the default cos they wouldn't be making interest money on the cash they get to hold without instant payments.

Re: Brazil central bank to launch Pix installment feature in September

#77

Post by sam-cop-vimes »

jabjq wrote: post #62
ojosilva wrote: post #3

This is hands down one of the best instant payment platforms at the moment. Only India's UPI can match it in features, and China and Thailand in adoption. Most Western countries have had a (somewhat timid) taste of instant payments, but most don't know what it means to just drop credit and debit cards and cash altogether for a system that is not just universally adopted (from apps to flea markets to online payments a…

The best instant payment system is cash. It allows the merchant to skip the taxes too. Unbeatable.

Cash is king - but security is an issue unless you are dealing with small amounts.

Re: Brazil central bank to launch Pix installment feature in September

#78

Post by simtel20 »

sam-cop-vimes wrote: post #77
jabjq wrote: post #62

Earlier quoted context omitted.

The best instant payment system is cash. It allows the merchant to skip the taxes too. Unbeatable.

Cash is king - but security is an issue unless you are dealing with small amounts.

I can buy and pay for an airline ticket online with pix, and not with cash

Re: Brazil central bank to launch Pix installment feature in September

#79

Post by somedude895 »

brainwad wrote: post #22
ojosilva wrote: post #3

This is hands down one of the best instant payment platforms at the moment. Only India's UPI can match it in features, and China and Thailand in adoption. Most Western countries have had a (somewhat timid) taste of instant payments, but most don't know what it means to just drop credit and debit cards and cash altogether for a system that is not just universally adopted (from apps to flea markets to online payments a…

Credit cards give me cashback, worldwide acceptance and peace of mind. The country I live in, Switzerland, has a very widely accepted QR-based payment system... but credit cards (in mobile wallets) are more convenient, safer, faster. The only time I use the QR codes is when a merchant doesn't have a card terminal.

Yeah but Twint is a piece of crap. Maybe Pix or Alipay are faster to use. But I agree, Apple Pay is pretty much perfect in terms of UX for in-store and especially for online payments.

Re: Brazil central bank to launch Pix installment feature in September

#80

Post by jowea »

renrutal wrote: post #72
jabjq wrote: post #62

Earlier quoted context omitted.

The best instant payment system is cash. It allows the merchant to skip the taxes too. Unbeatable.

Cash is a hassle. It requires everyone to have change. You need to count the money, the cashier needs to count the money and store it. The line behind you gets longer. The end of day close-out process is longer. Brazilians also generally don't like to walk with cash in their pockets. Only politicians usually do it, but in their underpants. The pros is that cash is analog, no battery, internet connection or digital sy…

Also theft/robbery.

Not that Pix isn't a risk, being forced to do bank transactions at gunpoint is a thing now, but anyway.

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