1. the "social problems" aspect is a bit overstated by the press. What happened was a combination of factors, like the ability to have a free digital account (with the likes of nubank) and then get paid via PIX QR code when begging on the street. This it not exactly solving social problems.
2. It did enable some additional innovation, as you can even buy crypto using PIX, with services such as It's Ramp.
Great material as always, and (maybe) this time naysayers won't complain you left their angle out LOL
Good read as always. FPS in the UK is now up from £250k to £1m per tx - but of course consumer (and many corporate) facing banks dial this down to reduce fraud both on a per tx and tx value per day basis. Causing a dial-down in UK CHAPS usage in B2B....
A couple of comments about PIX:
1. the "social problems" aspect is a bit overstated by the press. What happened was a combination of factors, like the ability to have a free digital account (with the likes of nubank) and then get paid via PIX QR code when begging on the street. This it not exactly solving social problems.
2. It did enable some additional innovation, as you can even buy crypto using PIX, with services such as It's Ramp.
Great material as always, and (maybe) this time naysayers won't complain you left their angle out LOL
Good read as always. FPS in the UK is now up from £250k to £1m per tx - but of course consumer (and many corporate) facing banks dial this down to reduce fraud both on a per tx and tx value per day basis. Causing a dial-down in UK CHAPS usage in B2B....
My understanding is that FedNow will replace the ACH and wire rails as part of the rollout in July. Am I wrong?
cough cough Orum