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Comment by kyrra | Hacker News Reader

My understanding is that Pix took over because the Brazilian gov did transfer payments during covid and the (only?) way to get those payments was via Pix. So it forced everyone to start using it. And once people had more familiarity with Pix, merchants started pushing for it because it charges ACH level fees.

The chargeback system (MED) is only so-so right now, but expected to get better.

There is a lot to like about Pix, but the spec is extremely complicated and hard to implement.

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I started using Pix, because it's the best way to do business with Chinese ecommerce sites.

You don't have to give your credit card details and refunds go straight back to your account.

In fact, it really impressed me that Aliexpress got it working before many Brazilian sites.

If you use an intermediary, implementation is usually very simple and straightforward. The biggest challenge is becoming a direct participant—that is, communicating directly with the central bank. In this case, you need to enter the regulatory framework and become a payment institution.

There are plenty of companies in Brazil that offer PIX payments to foreign e-shops. Valve has been accepting PIX for some time now, for example.

Can you suggest some?

Many banks and Fintechs here offer this, the trick is that you need to open a local office, so you have a Brazilian subsidiary with a CNPJ number in order to open a bank account and receive the money.

Pix blew other kinds of bank transfer out of the water. TED, DOC, Boleto, were slow and expensive. Pix is instant, free for most people, and just works.

No, the Central Bank of Brazil did not force any person to start using Pix.

Also, care to elaborate why you think the spec is complicated and hard to implement?

Coerce is likely a better word.

Pix and OpenFinance are extremely chatty APIs with a ton of rules. Being a merchant using the ecosystem is not that bad, but trying to be a participant in the network is complicated.

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