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Brazil's government-run payments system has become dominant

(www.economist.com)
666 points jcartw | 1 comments | 08 Apr 25 10:59 UTC | HN request time: 0.001s | source
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forinti ◴[08 Apr 25 14:09 UTC] No.43621978[source]▶
Brazil was in constant economic chaos in the 80s and 90s, so the banking system invested a lot in automation and communications.

I actually think it took too long for Pix to be invented. The piping was all there. Somebody just had to have the idea.

Even in the 80s you could easily transfer from any bank to any other bank.

replies(2): >>43627262 #>>43639401 #
1. dkga ◴[08 Apr 25 22:54 UTC] No.43627262[source]▶
Well, not just the idea. The technical feats supporting Pix are actually amazing; it's a whole separate payments system that settles almost immediately, 24/7.