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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: 0.333s | source
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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.

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nicce ◴[08 Apr 25 11:49 UTC] No.43620584[source]▶
Payment systems take huge fees. It is always good if they get back to the country and not elsewhere. Digital paying is something fundamental. Like electricity.
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1. blackoil ◴[09 Apr 25 05:16 UTC] No.43629090[source]▶
> Payment systems take huge fees

That is the monopoly cost. UPI is free for both payee and payer. Whatever it costs banks to operate it is covered by reduced cost of dealing with cash/consumer.