Brazil launches ‘Pix’ instant payments system, Whatsapp to enter ‘soon’
Brazil’s central bank on Monday launched an instant payments platform that will speed up and simplify transactions, as well as foster financial sector competition and lure in new players such as big techs Facebook Inc and Google, Reuters reports.
Dubbed “Pix,” the state-owned instant payments system allows consumers and companies to make money transfers 24 hours a day, seven days a week, without requiring debit or credit cards. It is also free of charge for individuals.
