Brazil's Pix payment system replaces cash and wire transfers in three years, potentially ending the era of credit cards.
Brazil's Pix payment system, launched by the central bank, has become the country's preferred payment method in just three years, replacing cash and wire transfers in many cases. The instant payments benefit online retailers, helping with cash flow and undercutting existing credit card infrastructure. This growth has led market trends to suggest that credit cards may cease to exist soon.
April 02, 2024
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