Brazil’s pix payment system … anyone else amazed by how popular it is?

General Discussions Forum
1

In 2023, there were almost 42 billion Pix transactions, making it one of the most used instant payment systems in the world. To put that in perspective, it’s almost five times the volume of combined debit and credit card transactions in Brazil.

how quick is pix?

Transactions happen instantly, averaging around 2.5 seconds per transfer.

If you’re interested in learning more, I wrote an article about it: https://medium.com/@rasvihostings/brazils-pix-payment-system-is-one-of-the-world-s-most-used-instant-payment-systems-73adbd702ce3

2

Wow, 42 billion? Meanwhile, Visa is handling far more globally.

What’s the main point of the article? Just saying Brazil’s ignoring the rest of the world’s systems?

3

Edward said:
Wow, 42 billion? Meanwhile, Visa is handling far more globally.

What’s the main point of the article? Just saying Brazil’s ignoring the rest of the world’s systems?

It’s 42 billion, not million. Pix is only 3 years old, so it’s catching on pretty fast. Already 42 billion transactions!

4

Edward said:
Wow, 42 billion? Meanwhile, Visa is handling far more globally.

What’s the main point of the article? Just saying Brazil’s ignoring the rest of the world’s systems?

What do you mean by Visa’s low capacity?

5

@Rian
Keep in mind, Pix is only within Brazil, not worldwide. What’s impressive is the speed of transactions.

6

Rian said:
@Rian
Keep in mind, Pix is only within Brazil, not worldwide. What’s impressive is the speed of transactions.

Rest of the world isn’t exactly impressed by that small transaction volume.

Fast? Sure, but it’s a level of transactions the world was doing decades ago.

7

@Edward
You’re comparing a global system with one country’s system. Anyway, thanks for reading, and feel free to follow if you want to see more articles.

8

Rian said:
@Edward
You’re comparing a global system with one country’s system. Anyway, thanks for reading, and feel free to follow if you want to see more articles.

Not really interesting, honestly. Kind of underwhelming.

9

Have you looked into India’s UPI system?

10

Shay said:
Have you looked into India’s UPI system?

Yeah, I’ve read about it – really impressive numbers. Kudos to India!

11

Monobank is big in Ukraine, Zelle is popular in the US.