> require ID, zero privacy, usually government sanctioned
Unfortunately systems that don't have those requirements are going to be money laundering channels. I wish it wasn't such a big concern but it's unavoidable.
> Unfortunately systems that don't have those requirements are going to be money laundering channels. I wish it wasn't such a big concern but it's unavoidable.
There same requirements also make the likelihood of these systems scaling beyong one jurisdiction very unlikely. Tourists don't want to set up a payment account for every country they visit. Or other way around, banks don't want to KYC and set up an account for every foreign tourist.
As Visa and MC work globally, I'm betting that the dominance from those will continue. Cryptocurrencies might have some change of becoming the "global" transaction method as well.
China, India, Brazil, Russia, Japan, South Korea, and others are all trying to expand their own transaction networks.
While it's still piecemeal, a Chinese or Indian tourist in Thailand can use UnionPay or UPI to transact without using Visa/Mastercard, a Russian tourist in Vietnam can use Mir, a Brazilian in Argentina can use Pix instead of Visa/MC as well, and a Japanese visitor in Singapore can use JCB instead.
Even the ECB has recently started considering this option (though it might also be an attempt to force the Trump admin to negotiate).
The biggest thing blocking international payment competitors is FATF, which has some regulations biased in favor of Visa/Mastercard.
> Cryptocurrencies might have some change of becoming the "global" transaction method as well
I'm not sure. Most jurisdictions that aren't the US and EU heavily regulate cryptocurrencies, and at best allow state managed or regulated cryptocurrencies, which basically makes the whole point of crypto moot.
If you can find a place that actually accepts it! It’s certainly not as ubiquitous as the local Napas247 QR codes.
The point is there is a steady decoupling towards non-Visa/MC payment systems outside the US and EU, and it wouldn't be too surprising if a number of these systems begin supporting inter-operability within the next 10 years.
I find very likely Netflix or Amazon will be one of the first companies to support this in June now.
This was made initially to replace old school automatic debit for phone/electricity/etc bills, but it will support all services.
In Brazil, installments with credit cards are also super common... Basically when you put a credit card on any website or buy on a store, you can just choose to pay in 12x.
Well, they will add in September Pix Installments as well.
> Brazil, installments with credit cards are also super common... Basically when you put a credit card on any website or buy on a store, you can just choose to pay in 12x
Yea that kinda makes sense. The market dynamics in Brazil reminds me a lot of India albeit better regulated (thank you OECD reforms), but tbf, there has been a lot of cross-pollination between Brazilian and Indian policymakers - Cambridge MA is that kinda melting pot, and Brazil has a very similar political dynamic.
Brazil Journal too, but it usually focus more on market as a whole. https://braziljournal.com/
But most of the news are usually covered on Infomoney, Valor Economico, with the together with daily market coverage.
NeoFeed and Brazil Journal focus more on "high-quality", less content.
Let's grab some cacha or other trashy/bourgeois booze when I'm back in São Paulo! I'm am Arak kinda guy
the best source I could find is this: https://finsidersbrasil.com.br/
Until there will be a stable coin we can trust and which can be accepted by most businesses.
By the same thinking we should forbid cash, too.
We have two ways:
Give up all freedoms, forbid anything and transform the society into a mass surveillance society where everyone spies everyone, where is no anonimity and no privacy.
Or require law enforcement to do a better jobs without people giving up their freedoms.