2 Days
Source:
النهار
Brazil's Pix System Faces US Tensions
Brazil's "Pix" payment system is a real-time payment network launched by the Central Bank of Brazil in November 2020. It has become widely adopted across the country, with over 160 million users out of a population of 211 million. The system allows for the quick transfer and receipt of funds using simple means such as phone numbers or email addresses. It serves as an alternative to traditional payment networks that charge high fees, with a transaction volume reaching $7 trillion by 2025—equivalent to three times Brazil's economy. Washington views "Pix" as a threat to the American payment model due to its integrated role as both regulator and operator, as well as its potential impact on U.S. revenues. This has raised concerns about the global spread of such systems and the potential reshaping of the payments sector worldwide.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)