- technically not a specific app, its a payment method that any app with a checkout flow (for example) can chose to implement.
- you register some id with your financial institution of choice (any of CPF - equivalent to SSN, CNPJ - for businesses, phone number, email or a randomly generated key).
- keys are fully portable, as in you can revoke em or change the bank institution they're associated with any time.
- you can generate a QR code on the spot so the person paying can just scan it
- transfer is pretty much instant (under 5s seems to be the norm)
- no NFC (so works with any crappy phone)
- since its a bank transfer, and since bank transfers are insured up to 200k (afaik), its pretty safe.
Brazilian banking system is quite well developed for a long time. Let's see if Pix being ubiquitous can help the country better develop economically, with better wealth distribution, innovation and high-paying jobs
That's something I've wondered for a long time. Especially know when real time bank transfers aren't allowed to cost more than regular bank transfers (usually free), there's really no point in creating a seperate system.
But it seems to me like banks don't really want to make bank transfers more comfortable for small transactions.
- no card
- technically not a specific app, its a payment method that any app with a checkout flow (for example) can chose to implement.
- you register some id with your financial institution of choice (any of CPF - equivalent to SSN, CNPJ - for businesses, phone number, email or a randomly generated key).
- keys are fully portable, as in you can revoke em or change the bank institution they're associated with any time.
- you can generate a QR code on the spot so the person paying can just scan it
- transfer is pretty much instant (under 5s seems to be the norm)
- no NFC (so works with any crappy phone)
- since its a bank transfer, and since bank transfers are insured up to 200k (afaik), its pretty safe.