alt Hacker NewsIt's not different, many countries already have their own version of it, you just don't hear about them. India's UPI has more users but you don't hear about it.
Maybe we hear about it because, it's right in the US' backyard and the biggest country there is Brazil from which pix comes from. All these payment systems threaten visa and Mastercard but pix is the largest in the US' backyard because the country it comes from, Brazil, is the largest there.
And it's also government run, dun dun dun. The us hates anything that is government run. That's why they hate china and communists and socialism so much.
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Right, but PIX on their website says they're expanding to Europe, which makes me wonder what do they have to offer on this heavily saturated market.
India's UPI is practically impossible to use even for tourists in India. It's not serving the same role as Visa and MasterCard.
UPI used to be good, but they started adding charges after Visa and Mastercard lobbied D.C. probably with huge bribes. And the Indian government is spineless against D.C.
Agree that PIX bothers the US more because it's directly under US (self assessed) area of influence. But the reason is not some philosophical alignment, but rather deep rooted lobbying practices.
Evidence of high levels of power political pressure - US latest 25% tariff pressure came out explicitly around this topic - https://www.reuters.com/business/finance/brazil-us-clash-ove...