Instant Payment System PIX: Fintechs and WhatsApp Win, Terminals and Banks Lose

A study by Roland Berger consultancy projects a drop of up to 63 percent in some companies' revenues with the Central Bank's new digital transfer platform.

RIO DE JANEIRO, BRAZIL - The Central Bank announced this week that it will advance from November to October the launching of a service that will revolutionize the payments market in Brazil. It is called PIX, the instant payments and transfers system between digital wallets that will work 24 hours a day at zero cost to the end consumer.

It may be the end of TED and DOC, the transfer instruments currently used by large banks with hourly limits, but it will also be a rebalancing of power in the Brazilian financial market. In the end, who gains, and who loses . . .

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