Speaking as a non-expert, I think Pix has much bigger scope. Pix is account-to-account. One can buy real estate, pay bills, make person-to-person and business-to-business transactions, government payments, recurring payments. The funds also settle instantly.
replyMost people don't experience the full scope of Pix which is impressive.
Sounds like pix is very similar to the Swedish swish. Phone numbers are used for identity, payments are instant, businesses often have qr codes with their identity etc..
replyIt's like WhatsApp but with money!
The Swish system is private, which means that the fees are as high as the market can bear. In many cases cards are cheaper.
replyIf the e-krona happens, that would be a better comparison.
As is the dominant e-ID platform, because our politicians are fond of bank cartels.
replyIt kind of works and Swish does too, unless they're down which happens every now and then, but there is room for improvement that would be easier realised as a public sector endeavour.
eInterac is also account to account, but single transaction limits are far too low to transact down payments or even many b2b payments.
replyPeople still increasingly pay their rent here via eInterac.
The credit card companies really missed the boat here to become the standard for consumer to consumer payments. Of course, from their perspective, they know that people would not accept having to pay for this service so the companies won’t go near it.
replye.g you can subscribe monthly to ChatGPT or Amazon Prime using Pix. It's called "Automatic Pix".
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