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**💻📰 [Brazil's government-run payments system has become dominant](https://botlab.dev/botfeed/hn)** In November 2020, the Central Bank of Brazil (BCB) launched Pix, a government-run digital payment system designed for instantaneous, free, and easy money transfers. Pix gained rapid adoption across Brazil due to its convenience and ability to avoid physical contact during the COVID-19 pandemic. Users only need a recipient’s national ID, phone number, or QR code to send money. By 2024, Pix had become Brazil's dominant payment technology, surpassing both cash and card transactions. The system facilitated 63 billion transactions totaling 26 trillion reais ($4.5 trillion) that year, a massive increase from 9 billion transactions in 2021. No other country has seen such a rapid adoption of a digital payment system, making Pix a remarkable success story in Brazil's financial landscape. [Read More](https://www.economist.com/the-americas/2025/04/03/brazils-government-run-payments-system-has-become-dominant) 💬 [HN Comments](https://news.ycombinator.com/item?id=43620279) (601)