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    Brazil's government-run payments system has become dominant

    (www.economist.com)
    666 points jcartw | 13 comments | 08 Apr 25 10:59 UTC | HN request time: 1.536s | source | bottom
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    SwiftyBug ◴[08 Apr 25 11:48 UTC] No.43620583[source]▶
    I've been living in Brazil for the last 20 years.

    Pix revolutionised the way we transact in Brazil. I've used Pix to pay for things that cost only cents, and I have a friend who bought her house using Pix. The system just works for any transfer amount. And it's so easy to use.

    Its speed is truly baffling, and so is its reliability. Never have I failed to make a Pix payment because of downtime. I never cease to be amazed by how fast money arrives in my Brazilian account when I make a withdrawal directly from my EUR wallet on Wise. I receive a push notification from my Brazilian bank before Wise finishes running the animation of confirmation of withdrawal. It's like magic.

    And it's so widespread that nowadays I don't even question whether someone accepts Pix. When I get in a taxi, no matter how old the driver is, it's certain that they take (and prefer) Pix.

    I've even had homeless people ask me for Pix instead of change on multiple occasions.

    Cryptocurrencies don't stand a chance.

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    1. olalonde ◴[08 Apr 25 15:05 UTC] No.43622627[source]▶
    > I've even had homeless people ask me for Pix instead of change on multiple occasions.

    Sounds like WeChat Pay. It's been years now that beggars in China only carry QR codes.

    > Cryptocurrencies don't stand a chance.

    They solve a different problem or have the potential to: predictable/unbiased money issuance and on/off ramp for payment platforms.

    replies(3): >>43623170 #>>43625445 #>>43629123 #
    2. tetris11 ◴[08 Apr 25 15:49 UTC] No.43623170[source]▶
    I wish the homeless in London did this, I'd happily give a few pounds here and there if it were easy to. Back when I had cash on me at all times, I would think nothing of it, just toss a coin. Now in our cashless society, I found myself at a loss to do anything about the people suffering in front of me
    replies(3): >>43623400 #>>43623602 #>>43624311 #
    3. phillc73 ◴[08 Apr 25 16:12 UTC] No.43623400[source]▶
    You could try carrying cash again, especially just a few coins for the homeless.
    replies(1): >>43625466 #
    4. paleotrope ◴[08 Apr 25 16:31 UTC] No.43623602[source]▶
    You could donate to your chosen homeless assistance charity and just carry cards that explain how to get assistance from the same org.
    replies(1): >>43623807 #
    5. mulderc ◴[08 Apr 25 16:48 UTC] No.43623807{3}[source]▶
    Maybe not true everywhere but in all the towns I have lived in the homeless were well aware of organizations that provide assistance. No need to carry a card about it.
    replies(1): >>43630239 #
    6. bananalychee ◴[08 Apr 25 17:31 UTC] No.43624311[source]▶
    Can't even be penniless these days, you need a fancy electronic device, a data plan and reliable access to an outlet before you can beg for charity. Sad world.
    replies(1): >>43624534 #
    7. lazyasciiart ◴[08 Apr 25 17:49 UTC] No.43624534{3}[source]▶
    And then people won't give you money because "look at them with their phones! I'm sure that could have paid rent for a month"
    replies(1): >>43630219 #
    8. reaperducer ◴[08 Apr 25 19:11 UTC] No.43625445[source]▶
    > I've even had homeless people ask me for Pix instead of change on multiple occasions.

    Sounds like WeChat Pay. It's been years now that beggars in China only carry QR codes.

    I saw a guy at a freeway offramp in north Texas with a Venmo (?) address scrawled on a piece of cardboard.

    9. reaperducer ◴[08 Apr 25 19:12 UTC] No.43625466{3}[source]▶
    You could try carrying cash again, especially just a few coins for the homeless.

    I make a point of carrying cash. Especially for buskers. It's just so simple to push the "cash back" button at the PoS when I'm buying something else.

    (I miss the days when you could buy a CD from a talented busker.)

    10. sneak ◴[09 Apr 25 05:23 UTC] No.43629123[source]▶
    I was expecting China to be totally cashless when I went last year. While everyone accepts digital payments, almost everyone also accepts cash just fine.
    11. rcxdude ◴[09 Apr 25 09:01 UTC] No.43630219{4}[source]▶
    Maybe 1/10th of the rent for a month. Second-hand crappy phones are real damn cheap. I know someone who can't afford rent even if they paid for nothing else, and they go through one every 2-3 months.
    12. rcxdude ◴[09 Apr 25 09:05 UTC] No.43630239{4}[source]▶
    Indeed, and there's usually a reason why they're on the street instead of going to those organizations (justifiable to a random other person or not).
    replies(1): >>43668332 #
    13. mulderc ◴[12 Apr 25 22:15 UTC] No.43668332{5}[source]▶
    My experience is they are already using those services but most of those services can only provide so much. In my state most people on the street already have Medicaid and food stamps but it isn’t like that is enough to get you a place to live or a job. The programs and services available can keep someone alive but are rarely comprehensive enough to deal with chronic mental and physical health issues that impact the ability of someone to thrive in a market economy. Even the most rightwing 20th century economist recognized that the state will need to step in for housing and employment for some part of the population.