[haolez]

As a Brazilian, I am not pleased. This will become just another tool for the government to create artificial difficulties and sell solutions to its closest "friends". Standards have been created without any government's help since forever.

[marcosdumay]

> This will become just another tool for the government to create artificial difficulties and sell solutions to its closest "friends".

What are those difficulties you are expecting?

It's absurd that most of the world is hostage of a few credit card operators to do any kind of business. Nearly all the problems one has to receive payment today are caused by those.

[gcbw3]

What's the alternative? leave facebook do exactly it instead of the government?

You speak like the free-for-all tax tools didn't work for you. Do you rather the US model? where you have to pay $100~300 every year for exactly the same tools from a single private company that has a de facto monopoly because of close ties to the government?

Also, in the US, a transfer from your checking account (where you get your paycheck) to your credit card account (where credit card purchases show up) to pay up your monthly credit card bill, in the same bank, same client, you literally see both on the same screen on your internet bank, takes two to FIVE business day. Let that sink in when talking about US banking being archaic.

[jkaplowitz]

The Canadian model of Interac e-Transfer works pretty nicely, and is (at worst) cheap or (increasingly) free depending on the exact bank accounts involved: https://en.wikipedia.org/wiki/Interac_e-Transfer it's pretty widely supported within Canada, both among banks and among real use cases like paying rent or moving companies as well as peer-to-peer reimbursements.

Transfer time for Interac e-Transfer ranges from instant to hours, in practice.

[tinus_hn]

Similarly the Dutch iDEAL. I don’t really understand why this has to be country specific and the only international standard is US credit cards

[haolez]

> What's the alternative? leave facebook do exactly it instead of the government?

Not only Facebook, but any company that wishes to offer this service. Private monopolies are usually the result of government policies. In Brazil, all monopolies are like that.

[lykr0n]

> takes two to FIVE business day

That's only the case if the credit card services are powered by a 3rd party.

Chase, Wells Fargo, USBank, BECU, Alliant CU, BBVA, Citi, M&T, and others are all instant if you're paying from an account at that bank.

[A4ET8a8uTh0]

I think OP is talking about movement between banks. External transfer ( basically ACH ) between my banks is on average 5 days now. Last time I challenged them on this they used blanket 'fraud protection' as an excuse. When I started depositing cash as a way to deal with it, I got odd looks asking if the money is from my online business.

I dislike banking lately. And I used to be that annoying guy who goes into branch to do some transactions.

Point is, it really shouldn't take that long ( and I know for a fact it doean't ) to settle.

[Kaze404]

Can you name examples?

[pedrocx486]

Brazilian here, he can't and for a good reason: The entire process for PIX, from initial engineering to final implementation is documented and made public.

The government is making this for the exact reason someone else mentioned: We're at the mercy for a handful of big players, and that's enough. One open standard for all is good. (Edit: It's also an "economy" controlling standard. Not aimed at end users. It's something for the Central Bank to keep notes on what's happening with the money going around.)

The documentation sadly is in portuguese and in PDF: https://www.bcb.gov.br/content/estabilidadefinanceira/forump...

You can find more by looking on Google for: Banco Central PIX PDF

Personal note: A lot of people sadly still believe everything the government makes equals bad or equals to something that was idealized/created by the current president in office. It's not the case here by any means (the Brazilian Central Bank runs "independently") but unfortunately a lot of people see it that way.

[haolez]

Great! Just make PIX an alternative to the market, not something mandatory.

[Kaze404]

That's not possible for products that rely on social networks. Facebook has a monopoly in communication in Brazil, and if they had to compete with Pix they'd win regardless of the product. Pix, however, means anyone can integrate the functionality in their application, making every service compatible with each other and increasing competitiviness.