New instant payment system closer to launch in Brazil – TBR Weekly #23

Brazil is about to launch PIX, a new instant payment system. It will allow near-instant money transfers between banks at any time of day. The Central Bank hopes PIX will speed up the digitalization of Brazil’s financial systemAs the instant payments system is set to reach 20 million users in its first year—The Brazilian Report is an independent media outlet uniquely positioned to offer an insider’s view on current affairs in Brazil.