←back to thread

Brazil's government-run payments system has become dominant

(www.economist.com)
666 points jcartw | 2 comments | 08 Apr 25 10:59 UTC | HN request time: 0s | source
Show context
bestouff ◴[08 Apr 25 11:47 UTC] 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.

replies(7): >>43620584 #>>43620865 #>>43620874 #>>43620906 #>>43620937 #>>43624958 #>>43625649 #
rebanevapustus ◴[08 Apr 25 12:29 UTC] No.43620937[source]▶
The Brazilian government is a *very* corrupt authoritarian oligarchy. I would take any US company over that any day.
replies(4): >>43620990 #>>43622237 #>>43627367 #>>43628965 #
xinayder ◴[08 Apr 25 12:35 UTC] No.43620990[source]▶
Yet we, a developing "third-world" country, have a better functioning payment system than the US, where it takes days, or even weeks, for a wire transfer to land, and you pay a huge amount of fees for that.

Cases in point:

- To transfer money to a broker, I need to pay around $5 in transfer fees via ACH or wire

- I want to change the custody of my stock market assets from one broker to another, and it will cost me $75 to move $60 worth of shares. Meanwhile, in Brazil, this process is free in every broker.

replies(4): >>43621031 #>>43621424 #>>43624618 #>>43631271 #
1. rebanevapustus ◴[08 Apr 25 17:56 UTC] No.43624618[source]▶
It's cool that "we" have a payment system, however, I would never be comfortable using something whose people in charge are those that keep us (not me particularly because I've gladly left the country almost a decade ago) in this misery.

I use Crypto for everything you've mentioned. It's instant, almost free, and alexandre(he deserves a lowercased a) can't take my money if he feels that writing his name in lowercase makes me unworthy of my civil rights.

replies(1): >>43642832 #
2. xinayder ◴[10 Apr 25 11:35 UTC] No.43642832[source]▶
Do you have a guide on how to use it or what services accept crypto for this purpose?