So I have total confidence that they are capable of creating a better yet version of it.
This Pix thing seems to cover more than inter-bank transfers, people are expected to use it for QR code-based mobile payments for instance.
"Throughout the 1990s, when the annual cost of drugs for AIDS treatment often exceeded US$10,000 per patient, the World Bank and other development agencies discouraged developing countries from implementing treatment programs, favoring “cost-effective” prevention over costly treatment. Brazil challenged this conventional wisdom and, despite World Bank objections, has provided free universal access to highly active antiretroviral therapy (HAART) for all people living with HIV/AIDS since 1996." source: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2782963/
Not mention its ubiquity that allows everyone from teens to grandparents to pay .25 for a cookie, to dropping a down payment, to paying bills, to filing taxes, to automating a weekly rent check. Basically an elegant single system required for modern life.
The fact zelle, launched in 2017, has a brand name, and competes for mindshare illustrates how they missed the target. In other countries it’s called banking.