Santosh Kumar’s Post

Real-Time Payments Showdown: Brazil’s PIX🇧🇷 🆚 India’s UPI🇮🇳 Real-time payment solutions have undeniably cemented their presence in today's financial ecosystem, with Brazil's Pix leading the charge. Per capita, its usage is twice as high as India's UPI, highlighting its remarkable acceptance and effectiveness. Launched in 2020 by the Central Bank of Brazil (BCB), Pix has rapidly evolved as one of the primary payment methods in the nation. Recent BCB data reveals the system's enormous contribution to financial inclusion, having brought 71 million Brazilians into the financial sphere—individuals who had not previously utilized the TED (Electronic Bank Transfer) system within the preceding year. Interestingly, regions with fewer brick-and-mortar bank branches tend to show a higher adoption rate of Pix. Amazonas and Amapá lead the charge with 26 and 24 Pix transactions per user, respectively, while larger regions like São Paulo and Rio de Janeiro report 18 and 19 transactions per user. Pix's soaring popularity is further evident in its recent milestone: an astounding 152.7 million transfers executed in just one day, on September 6. Both Pix and UPI have immensely influenced economies, businesses, and day-to-day activities. Far from plateauing, the momentum for real-time payments continues to grow, promising further local and global transformations in the financial landscape. NOTE: This post is inspired by Nathan Marion’s orginal linkedin post so follow him for more great updates like this one👌 Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentservices #instantpayments #financialtechnology #fintechindustry #pix #upi #fintechnews 

There's a lot of excitement right now about direct real-time payments in Brazil and India.  Interestingly, there's no technical barrier preventing this type of payment scheme from being implemented in the EU, US, and other regions. In fact, it would be straightforward to integrate direct payments into existing POS networks or major ECR providers, making these payments instantly available to most merchants. However, Payment Service Providers (PSPs) are primarily focused on alternative payment methods like Satispay, Klarna, and cryptocurrencies, in addition to credit cards. The transaction volumes for these alternatives are relatively low. Surprisingly, there seems to be little interest in direct SEPA payments, which would be the EU's equivalent of Brazil's PIX and India's UPI. This is true in most markets where we are active, with the notable exception of Portugal and its unique payment ecosystem. The lack of widespread adoption of instant account-to-account payments in retail can be attributed to a mix of profit structure and market inertia. The innovation needed here is more of a business innovation rather than a technological one. https://lnkd.in/dSaR7_BY #RealTimePayments #DirectPayments #BrazilPayments #IndiaPayments #PaymentInnovation #POSNetworks #ECRProviders #PSPs #AlternativePaymentMethods #Satispay #Klarna #Cryptocurrencies #SEPA #EUFinance #USPayments #MarketInertia #BusinessInnovation #PortugalPayments #PaymentEcosystem

Over 70% of Brazil's population are making payments with Pix – the instant money movement platform launched in 2020 by Banco Central do Brasil. But could it now go global? In a new FXC Intelligence report, I've broken down who's using the Pix platform, what's driving its success and its potential to be used across borders. Pix has grown significantly since its launch, with R$1.4tn of volume passing through the full version of the system in February 2024. This was driven by 3.8 billion transactions, a 79% YoY increase. Now, the Brazilian Central Bank is considering agreements to connect Pix with similar instant payment platforms in other countries. Various fintechs have already enabled the payment method to be used in Argentina and Uruguay. The BCB has also expressed interest in Nexus – a project being spearheaded by the Bank for International Settlements – BIS to develop a platform that will enable instant payments platforms around the world to connect with each other. For the full in-depth report on Pix, click the link in the comments below 🇧🇷 Thanks very much to Liber Fernández Gribov, Chief Commercial Officer of embedded finance platform Inswitch, and Ralf Germer, CEO and Co-Founder of Brazilian payment processor PagBrasil, for taking the time to speak to me! #Pix #instantpayments #QRcodes #payments #crossborderpayments

With Pix, Brazil 🇧🇷 has become the second largest market for instant payments in the world 🤯 The country accounts for 14% of all global transactions, second only to India, which represents 49% of the operations. Other countries in the ranking include Thailand (8%), China (7%), and South Korea (3%). The data comes from the "Prime Time for Real-Time 2024" report, developed by ACI Worldwide, a real-time payment software company, in partnership with GlobalData, a global analysis and data firm. In 2023, after a 77.9% increase, real-time payments in Brazil reached a record 37.4 billion transactions. Globally, real-time transfers grew by 42.2% to 266.2 billion. See more info in the picture below👇 #payments #paytech #digitalpayments #fintech

📈 Did You Know? 🤔💸 According to a recent report by Worldline, the world of digital payments has been buzzing! 🌐 📈 UPI transactions have skyrocketed from 4.6 billion in January 2022 to 9.3 billion in June 2023. 😲 What's causing this surge? It's the rise of person-to-person transactions! 👫 📆 Let's rewind to January 2018 when UPI transactions were just 151 million. Fast forward to today, and the numbers have gone through the roof! 🚀 💰 Not only are there more transactions, but the transaction value has also surged from ₹8.3 trillion in January 2022 to ₹14.7 trillion in June 2023. 💰 The world of payments is evolving faster than ever! 🌟 Stay tuned for more fintech updates! 💳📱 #fintechfacts #digitalpayments #fintech #upi #upigrowth #paytring

"Exciting times ahead in #emerging_economies as new-gen #payment solutions revolutionize financial landscapes!" 🌍💸 The remarkable success of #PIX in #Brazil and #UPI in #India highlights their pivotal roles in growth of #instant_payment systems. Both countries have made significant steps in #digitalizing #transactions and fostering trust of citizens in these transformative #technologies. 📱 💡 UPI, launched in 2016 by NPCI under RBI's regulation, aims to streamline transactions, promoting interoperability and enhancing customer experiences. Its growth has been further accelerated by the booming #telecom sector, with over 14 billion monthly transactions valued at USD 239 billion. UPI is projected to multiply several times by 2026. 💡 In contrast, PIX, introduced in 2020 and regulated by the Central Bank of Brazil, has achieved a remarkable 78% growth rate and widespread adoption among citizens. It has shaped the payments trend in #LATAM. Reports indicate that 70% of Brazil's population has embraced PIX since its inception. 👉 Both payment systems have rapidly expanded, driven by #zero transaction fees. However, future #challenges may arise with the potential introduction of transaction charges. This might put these technologies on real test. While PIX is catching up on UPI, it aims to strengthen its infrastructure for enhanced flexibility with #PSPs and #cross-border payment capabilities. What are your thoughts on these emerging payment trends? Let's discuss!💬 🌎 #Fintech #EmergingMarkets #UPI #PIX #DigitalPayments #crossborder #payments #npci #rbi #Paymenttrends #Brazil #India #Trends #PSP @INNOVATION IN PAYMENTS

This chart by Insider Intelligence is an excellent visual depiction of how fast Pix (the Brazilian instant payments solution) grew in the country - and how it has impacted other payments alternatives since Q2 2019. Besides this impressive growth, Pix also strengthened competition in the financial sector and fostered financial inclusion - by facilitating transactions made by 71.5 million individuals (as of December 2022) who had not made any electronic credit transfers over a one-year period prior to the launch of Pix and are Pix users now. Looking ahead, Pix may eventually integrate with international instant payment systems to enable cross-border transactions, including remittances, international trades, and overseas payments for goods and services. The Brazilian Central Bank (Banco Central do Brasil) is monitoring global initiatives and has designed Pix to support such connections using international standards. According to the regulator, future products and functionalities will be developed based on societal needs and technological advancements, contributing to the digital transformation of payment methods. The BCB is also focused on incorporating new technologies to the financial sector, like Drex (the local CBDC, currently under development), indicating that the innovations starting in 2020 were just the beginning of a much broader revolution. #pix #Brazil #payments

🇧🇷 Pix 🆚 UPI 🇮🇳 - Both are instant payment systems, but how do they work? Let's dive in👇 The diagram below by Hua Li shows how Pix and UPI (Unified Payments Interface) are structured and how they have developed in transaction volumes over the years. UPI, which stands for Unified Payments Interface, is a real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate inter-bank transactions. UPI has revolutionized digital payments in India by making them simpler, faster, and more accessible to a vast majority of the population. Introduced in 2016, UPI quickly became one of the most popular digital payment methods in India, and recently hit the landmark figure of 𝟏𝟎 𝙗𝙞𝙡𝙡𝙞𝙤𝙣 (!) 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩𝙞𝙤𝙣𝙨. Launched in 2020 by the Central Bank of Brazil (BCB), Pix has rapidly evolved as one of the primary payment methods in the nation. Recent BCB data reveals the system's enormous contribution to financial inclusion, having brought 71 million Brazilians into the financial sphere—individuals who had not previously utilized the TED (Electronic Bank Transfer) system within the preceding year. Interestingly, regions with fewer brick-and-mortar bank branches tend to show a higher adoption rate of Pix. Amazonas and Amapá lead the charge with 26 and 24 Pix transactions per user, respectively, while larger regions like São Paulo and Rio de Janeiro report 18 and 19 transactions per user. Pix's soaring popularity is further evident in its recent milestone: an astounding 152.7 million transfers executed in just one day, on September 6, 2023 (more info here: https://lnkd.in/eVjgTabj) Per capita, PIX usage is in Brazil is twice as high as India's UPI, highlighting its remarkable acceptance and effectiveness. Both Pix and UPI have immensely influenced economies, businesses, and day-to-day activities. More info here: https://lnkd.in/eANZ9Pp9 Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentservices #instantpayments #financialtechnology #fintechindustry #digitalbanking #bankingtechnology #banking #bankingindustry #brazil #india #fintechnews 

🇧🇷 Pix 🆚 UPI 🇮🇳 - Both are instant payment systems, but how do they work? Let's dive in👇 The diagram below by Hua Li shows how Pix and UPI (Unified Payments Interface) are structured and how they have developed in transaction volumes over the years. UPI, which stands for Unified Payments Interface, is a real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate inter-bank transactions. UPI has revolutionized digital payments in India by making them simpler, faster, and more accessible to a vast majority of the population. Introduced in 2016, UPI quickly became one of the most popular digital payment methods in India, and recently hit the landmark figure of 𝟏𝟎 𝙗𝙞𝙡𝙡𝙞𝙤𝙣 (!) 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩𝙞𝙤𝙣𝙨. Launched in 2020 by the Central Bank of Brazil (BCB), Pix has rapidly evolved as one of the primary payment methods in the nation. Recent BCB data reveals the system's enormous contribution to financial inclusion, having brought 71 million Brazilians into the financial sphere—individuals who had not previously utilized the TED (Electronic Bank Transfer) system within the preceding year. Interestingly, regions with fewer brick-and-mortar bank branches tend to show a higher adoption rate of Pix. Amazonas and Amapá lead the charge with 26 and 24 Pix transactions per user, respectively, while larger regions like São Paulo and Rio de Janeiro report 18 and 19 transactions per user. Pix's soaring popularity is further evident in its recent milestone: an astounding 152.7 million transfers executed in just one day, on September 6, 2023 (more info here: https://lnkd.in/eVjgTabj) Per capita, PIX usage is in Brazil is twice as high as India's UPI, highlighting its remarkable acceptance and effectiveness. Both Pix and UPI have immensely influenced economies, businesses, and day-to-day activities. More info here: https://lnkd.in/eANZ9Pp9 Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentservices #instantpayments #financialtechnology #fintechindustry #digitalbanking #bankingtechnology #banking #bankingindustry #brazil #india #fintechnews

🇧🇷Pix 🆚 UPI🇮🇳 - Both are instant payment systems, but how do they work? The diagram below by Hua Li shows how Pix and UPI (Unified Payments Interface) are structured and how they have developed in transaction volumes over the years. UPI, which stands for Unified Payments Interface, is a real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate inter-bank transactions. UPI has revolutionized digital payments in India by making them simpler, faster, and more accessible to a vast majority of the population. Introduced in 2016, UPI quickly became one of the most popular digital payment methods in India, and recently hit the landmark figure of 𝟏𝟎 𝙗𝙞𝙡𝙡𝙞𝙤𝙣 (!) 𝙢𝙤𝙣𝙩𝙝𝙡𝙮 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩𝙞𝙤𝙣𝙨. Launched in 2020 by the Central Bank of Brazil (BCB), Pix has rapidly evolved as one of the primary payment methods in the nation. Recent BCB data reveals the system's enormous contribution to financial inclusion, having brought 71 million Brazilians into the financial sphere—individuals who had not previously utilized the TED (Electronic Bank Transfer) system within the preceding year. Interestingly, regions with fewer brick-and-mortar bank branches tend to show a higher adoption rate of Pix. Amazonas and Amapá lead the charge with 26 and 24 Pix transactions per user, respectively, while larger regions like São Paulo and Rio de Janeiro report 18 and 19 transactions per user. Pix's soaring popularity is further evident in its recent milestone: an astounding 152.7 million transfers executed in just one day, on September 6, 2023 (more info here: https://lnkd.in/eVjgTabj) Per capita, PIX usage is in Brazil is twice as high as India's UPI, highlighting its remarkable acceptance and effectiveness. Both Pix and UPI have immensely influenced economies, businesses, and day-to-day activities. More info here: https://lnkd.in/eANZ9Pp9 ❓Do you know other instant payments success stories like these two? Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #fintech #payments #paytech #digitalpayments #paymentservices #instantpayments #financialtechnology #fintechindustry #digitalbanking #bankingtechnology #banking #bankingindustry #brazil #india #fintechnews