[soneca]

As a Brazilian living in the US I can tell you that the TED system is already a smooth, efficient, and cheap money transfer service compared to the solutions here in the US.

So I have total confidence that they are capable of creating a better yet version of it.

[danilocesar]

As a Brazilian living in Canada, I can say the same.

[f00zz]

As a Brazilian living in Brazil I'm surprised that anyone would expect a service provided by the Brazilian government to be efficient, or even work at all.

This Pix thing seems to cover more than inter-bank transfers, people are expected to use it for QR code-based mobile payments for instance.

[EL_Loco]

The HIV treatment program, provided by the brazilian government for free to everyone that needs it, has been very succesful and is a model to be followed. Not everything the government does is rotten, just a lot of it.

"Throughout the 1990s, when the annual cost of drugs for AIDS treatment often exceeded US$10,000 per patient, the World Bank and other development agencies discouraged developing countries from implementing treatment programs, favoring “cost-effective” prevention over costly treatment. Brazil challenged this conventional wisdom and, despite World Bank objections, has provided free universal access to highly active antiretroviral therapy (HAART) for all people living with HIV/AIDS since 1996." source: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2782963/

[fredguth]

You have a very narrow world-view. You can not even imagine...

[centimeter]

What solutions have you tried in the US? Venmo and Cash App are both free and work up to like $2500, at which point you have to deal with government systems like ACH and it gets slow and expensive.

[mixmastamyk]

The US banking system is archaic compared to elegant systems like they have in Australia/New Zealand (and probably Europe). No malicious rent-seeking third parties needed in the transaction.

[jryle70]

Perhaps you should do a little bit more research. Zelle allows payment between banks (almost) instantly. No fee, since it's a service owned by participating banks, practically all major banks in the US. Zelle processed $187 billion in 2019.

https://www.zellepay.com/get-started

[mixmastamyk]

Perhaps you should do a little research and find that the rest of the world has been doing that between all banks for a decade or two.

Not mention its ubiquity that allows everyone from teens to grandparents to pay .25 for a cookie, to dropping a down payment, to paying bills, to filing taxes, to automating a weekly rent check. Basically an elegant single system required for modern life.

The fact zelle, launched in 2017, has a brand name, and competes for mindshare illustrates how they missed the target. In other countries it’s called banking.