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Brazil's government-run payments system has become dominant

(www.economist.com)
667 points jcartw | 2 comments | 4/8/2025, 10:59:00 AM | HN request time: 1.1s | source
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bestouff ◴[4/8/2025, 11:47:00 AM] No.43620573[source]▶

> Pix has spiced up Brazil’s fusty banking sector, but it gives the central bank a worrying amount of power

I think a largely prefer a government-run payment system than an US company monopoly.

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dtquad ◴[4/8/2025, 12:23:00 PM] No.43620874[source]▶

There are alternatives to both inefficient government-run monopolies and US tech giant monopolies.

Even a small country like Denmark has multiple software and finance companies doing apps and software in the digital payments and banking field.

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Gud ◴[4/8/2025, 12:55:00 PM] No.43621208[source]▶

Why do you assume a government-run monopoly is inefficient?

You should try to take a train in Switzerland sometime. Its government run and I guarantee you will be mind blown over its efficiency.

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1. wtcactus ◴[4/8/2025, 1:05:00 PM] No.43621334[source]▶

You should take one in Portugal, where it’s also government run…

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2. Gud ◴[4/8/2025, 1:17:00 PM] No.43621468[source]▶

I made no assumption that government run organisations are necessarily efficient. The comment I responded to implied that government monopolies are inefficient by their nature, which I would argue against.