Brazil's instant payment system, Pix, has reached another milestone as its popularity continues to increase.
BNPL business models gained momentum in Brazil earlier in the year among financial technology firms catering services to cardless customers.
By the end of 2020, the Central Bank of Brazil launched its own instant payment system, called PIX, with the ambitious goal of speeding up and facilitating transactions.
Pix's massive success has triggered the fraudsters who always go where the action and money are congregating.
As of May 2022, the PIX system had roughly 118 million users, 56% of Brazil's population.
I have said many times that Latin America is the hottest region for fintech on the planet. The digital banks...
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