The Brazil Tech And Innovation Roundup - Instant Payments, Carnival, 5G Auction [Forbes]
DEUTSCHE POST AG S/ADR (DPSGY)
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Source: Forbes
Welcome to this week's news round-up on the Brazilian innovation and technology ecosystem. Here are the key developments in Latin America's largest economy during the week ending February, 21, 2020: Fast cash One of the most interesting developments of the week was the launch of PIX instant payments The platform, which has been in the making over the last few years, will allow payment settlements 24/7 using mobile phones, internet banking, and ATMs. According to the president at the Central Bank of Brazil, Roberto Campos Neto While drastically reducing the need for using hard cash as well as settlement costs, the new platform is intended to enable the creation of new startups. It is already possible to make instant money transfers through digital wallets in Brazil, however there is no interoperability in the current set up. When it comes to users, PIX is expected to work as a powerful financial inclusion mechanism, as the possibility to send and receive money from a smartphone can enc
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