By BBC World Service
Published November 30, 2021 3:00pm
PIX instant payment limits to reduce kidnappingsLast year the PIX instant payment system was introduced in Brazil. It currently has 112 million registered users – that’s 62% of the population. It’s proving incredibly popular and is allowing the 40 million unbanked people in the country access to electronic payments. Unfortunately its popularity has also led to significant issues – namely ransom demands by kidnappers that can be paid immediately. By lowering the payment limit and stopping night payments, it’s hoped this will curb the problem. Silvia Bassi, who runs the tech website The Shift in Brazil, is on the show.
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