> As Visa and MC work globally, I'm betting that the dominance from those will continue.
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.
Yep! And Napas247 was co-developed by Vietnam and South Korea (edit: Only VN - confused Shinhan's support for development work)!
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.
Yes. As soon as June, Brazilian pix will support "Automatic Pix". Which means, basically, Pix will support subscriptions. So let's say, you authorize Netflix with pix, and then every month they will charge you with Pix automatically.
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.
Intruiging (in a great way). Do you have any recommendations of any Brazilian sources (Portuguese em Ingles) about the Brazilian and MERCOSUR FinTech and Public Tech industry? I'd love to dig even deeper, but my background is more NAM and Indo-Pac driven. I passed on NuBank eons ago and don't want to make the same mistake again.
> 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.
Not sure if there's an english website about it, but in Portuguese quality content you can find without paywall I would say is NeoFeed https://neofeed.com.br/
Oh yeah, I think lots of QR code based systems in Asia are actually interoperable now (just not if you’re not a resident in any of these countries — e.g. I do have GCash, but my account works in Philippines only).
You can absolutely not use Pix in Argentina. Maybe some street performer will, but most places barely accept cards, let alone pix. Cash is still king there.
Where? Pretty much every place accepts Mercadopago at least in Buenos Aires and PBA. From big stores to smaller ones to street performers or small shops in the middle of the road.
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.