Brazil’s innovative PIX banking system is replacing cash and credit cards

The World

PIX is a three-year-old system developed by the Brazilian Central Bank that has revolutionized how Brazilians pay for things. It’s like sending an instant wire transfer through the banking app on your phone with the click of a button, and no fees. Michael Fox reports from Florianopolis, Brazil, on how the banking app has changed Brazilian society in just three years. 

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