In Brazil, the dazzling success of Pix, the payment method that provoked the ire of the Trump administration

It's 4:30 p.m. on Rio de Janeiro's legendary Copacabana Beach. The sun is giving off its last rays, and Eduardo Resende Gonçalves, a street vendor selling iced tea, is starting to count his sums. "Of the twenty-four glasses I sold today, I'd say 80% were paid for with Pix." Pix: three letters for a free and instant banking transaction system, usable for any type of payment and implemented in all banking institutions' mobile apps.

Launched by the Brazilian central bank in November 2020, the mechanism is so popular that it has already surpassed bank card and cash transactions. In April 2025 alone, 2.677 trillion reais (over €410 billion) in payments were made with Pix. This immediate success can be explained in part by the ease of use of the system, says Carla Beni, professor of economics at the Getulio Vargas Foundation: "Transfers do not generate any additional costs and the money arrives instantly in the user's account. The cleaning lady or electrician who has just completed a service can then go shopping immediately afterward."

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