Comment Brazil's PIX has no fee (Score 1) 45
It is instant money transfer with *no fees*. Small shops will give you the same discount as if you pay with cash (around 5% or the credit card fee).
The system is really handy, as you can associate your phone number or email to your PIX so it serves as a handle/alias when you receive money. You can also generate a random key to disclose less data with the sender.
The challenge has been educate the population and make the system safe against scammers and regular muggers. It is a lot easier for scammers to mass message people on WhatsApp and lure them to send some money. Also you might get forced to send money to a temporary account (usually a owned by someone that has no idea about it, another victim) at gunpoint, so another criminal will withdraw the money at an ATM.
Pix is improving and the mass adoption tells it was well received by the population, specially small business. For the people concerned about digital cash, government overwatch, etc it is a valid conversation to have, but remember that in Brazil you will deposit your paper money in the bank anyway because it is just not safe to carry big sums of money around.
