[kwanbix]

While it is a private service by a company called Mercado Libre (which means Free Market), in Argentina we have Mercado Pago (which means Market Pay), has instant payments and it is free for 99% of the people that do P2P transactions. It is free for anyone, meaning, you don't pay to use it. You only need your national document. Of course, after seeing the success, the banks tried to implement MODO, but it was already too late.

[dudus]

Mercado Pago is closer to PayPal than PIX. I'd say it's a generation behind Google Pay/Apple Pay.

[guhcampos]

This. Mercado Pago is also available in Brazil, and it requires you deposit funds in their own account to use.

The thing about PIX most people don't get, including Europeans in this thread, is it integrates into whatever is your bank, so you can use your bank's cashing account to pay, no external app or account necessary.

[vitorgrs]

You can put your credit cards on Mercado Pago and pay with it... But yeah. Before PIX, places were going with PicPay and Mercado Pago world... And Pix just "killed" both overnight lol

[kwanbix]

I use Mercado Pago as my bank account, so I don't need to deposit anything as long as I have money.