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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

#91

Post by Tmpod »

closewith wrote: post #37
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.

Vipps and MBPay are a pale shadow of Pix. No aliases, no mandatory participation, much lower merchant fees, and instant settlement not dependent on the merchant bank.

MBWAY has card aliases, I believe it had been a thing since the 90s (previously know as MBNET).

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

#92

Post by csomar »

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…

Malaysia has duitnow which they recently started making it international. You can buy a coffee in Thailand with a duitnow wallet (ie: BigPay). It is also integrated with AliPay, so you can pay wherever AliPay is accepted (most of China).

I honestly think, at this point, they should just drop the bomb; take their currency to the blockchain (stablecoin) and make the wallets fully connectable to the crypto ecosystem. China doesn't seem keen to take a more open role to capital markets, so there is a void there.

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

#93

Post by kevin_thibedeau »

gruez wrote: post #64
ozgrakkurt wrote: post #59

Earlier quoted context omitted.

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

>It is just better in my experience. >You just scan a QR code and pay. Tap to pay (ie. NFC) with credit cards is as convenient and arguably more convenient than a QR code solution. At the very least you don't have to worry about aiming at the QR code and waiting for it to scan/focus, which is especially important if you're using it on transit systems.

This also doesn't require functional cell service.

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

#94

Post by Tmpod »

rcruzeiro wrote: post #17
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…

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.

I don't think I know a single person that doesn't have MBWAY, but I'm younger than 30, so that might have something to do with it.

Even then, everywhere you go, unless they're really small or old places that still don't accept anything other than cash, you can pay with MBWAY, through a QR code or NFC. All POS terminals support that nowadays. You can even add an email address and VAT number and newer terminals automatically skip printing the customer receipt, send it to your email and give the VAT number to the merchant (not entirely sure how that last one works, but it's there).

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

#96

Post by jowea »

ivape wrote: post #30
c0wb0yc0d3r wrote: post #25

Earlier quoted context omitted.

It’s a shame that it isn’t used.

I just learned about this. Looks like this system is only available to banks, and they would have no incentive to break the old system by being quick to implement this. If the Federal Reserve provided this directly to individuals, then we'd have a lot of new payment apps that bypasses the middle network (that would be a paradigm shift).

This was a whole controversy in Brazil. There was a conspiracy theory that the banks wanted to sabotage the Pix rollout because they would lose out on the fees for using the old transaction systems. In any case, there is a lot more money circulating through the banks now.

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

#97

Post by jowea »

voxleone wrote: post #29
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…

It may be good, but what does the Brazilian law say[0]? In 2021, Brazil enacted Law No. 14.063, which governs the digitalization of public services. Its Article 16 is clear: “Information and communication systems developed exclusively by the public administration shall be governed by open-source licenses, allowing their unrestricted use, copying, modification, and distribution by all public agencies and entities.” In…

Isn't it much more likely that a court would order the code published instead of restricting the use of an extremely popular payment system and brake half of the economy?

I mean, they blocked WhatsApp (95+% usage) before so who knows, but it seems unlikely it will actually affect the average person.

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

#98

Post by jowea »

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 has been some talk of actually internationalising Pix, but from what I understand, those uses that exist now outside of Brazil are a kludge for the benefit of Brazilian tourists.

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

#99

Post by [deleted] »

em500 wrote: post #42
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…

> 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. I'm not familiar with Pix or UPI, so out of curiosity, how are they better than Alipay/WeChat Pay (which I am familiar with)?

[deleted]

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

#100

Post by brainwad »

disgruntledphd2 wrote: post #63
brainwad wrote: post #51

Earlier quoted context omitted.

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.

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.
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