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Pix (electronic Payment System)
Pix is an instant payment platform created and managed by the monetary authority of Brazil, the Central Bank of Brazil (BCB), which enables the quick execution of payments and transfers. Pix was announced in the summer of 2019, and was fully operational on November 16, 2020. The "Pix" brand name and logo were created in-house by the Central Bank of Brazil in 2020. History and usage Brazil's central bank launched Pix in part to spur competition in the country's banking industry. Bloomberg referred to the app as "ubiquitous" in Brazil in October 2021, a year after Pix's release. As of November 2021, it has been reported that the system has already made more than 6 billion transactions totaling to an amount of 3.75 trillion BRL or about 682 billion USD. Features The Brazilian instant payment ecosystem (Pix) was created with the aim of reducing cash transactions and offering an alternative to existing payment instruments, such as bank slip or boleto and ATM, as well as being faste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Instant Payment
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of exchanging money and processing payments, allowing for almost immediate transfer of money between bank accounts, instead of the more typical one to three business days. Many countries have implemented instant payment systems, and many instant payment systems and platforms are currently under development worldwide, due to increased need for faster and reliable transactions. The Euro Retail Payments Board (ERPB) define instant payments as: Background The growth of e-commerce has caused changes in people's spending patterns. Shopping is no longer confined to regular business hours, creating new challenges for funds transfers. Similarly, merchants require faster and more reliable money transfer systems to keep up with consumers' demands. Traditional electronic payments like simple bank transfers, that perform the electronic funds transfer within few business days, are not in line wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brazil
Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area and the seventh most populous. Its capital is Brasília, and its most populous city is São Paulo. The federation is composed of the union of the 26 States of Brazil, states and the Federal District (Brazil), Federal District. It is the largest country to have Portuguese language, Portuguese as an List of territorial entities where Portuguese is an official language, official language and the only one in the Americas; one of the most Multiculturalism, multicultural and ethnically diverse nations, due to over a century of mass Immigration to Brazil, immigration from around the world; and the most populous Catholic Church by country, Roman Catholic-majority country. Bounded by the Atlantic Ocean on the east, Brazil has a Coastline of Brazi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Brazil
The Central Bank of Brazil ( pt, Banco Central do Brasil) is Brazil's central bank. It was established on Thursday, 31 December 1964, a New Year's Eve. The bank is not linked to any ministry, currently being autonomous. Like other central banks, the Brazilian central bank is the principal monetary authority of the country. It received this authority when it was founded by three different institutions: the (SUMOC), the Bank of Brazil, Banco do Brasil (BB), and the . One of the main instruments of Brazil's monetary policy is the Banco Central do Brasil's overnight rate, called the SELIC rate. It is managed by Monetary Policy Committee (COPOM) of the bank. The bank is active in promoting financial inclusion policy and is a leading member of thAlliance for Financial Inclusion It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration. during the 2011 AFI Global Policy Forum, Global Policy Forum i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg News
Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, ''Bloomberg Businessweek'', ''Bloomberg Markets'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief. History Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers. The agency was established in 1990 with a team of six people. Winkler was first editor-in-chief. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide. Beginnings (1990–1995) Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''The Wall Street Journal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boleto
''Boleto bancário'', simply referred to as ''boleto'' (English: bank ticket) is a payment method in Brazil regulated by (FEBRABAN). A boleto can be paid at ATMs, branch facilities and internet banking of any bank, post office, lottery agent and some supermarkets until its due date. After the due date it can only be paid at the issuer bank facilities. Boleto can only be collected by an authorized collector agent in the Brazilian territory. Open source projects like BoletoPHP allow the merchandisers to generate unregistered Boleto Bancários without communicating with the bank.http://techinbrazil.com/online-payment-for-e-commerce-in-brazil Online Payment for E-Commerce in Brazil See also *Brazilian Central Bank The Central Bank of Brazil ( pt, Banco Central do Brasil) is Brazil's central bank. It was established on Thursday, 31 December 1964, a New Year's Eve. The bank is not linked to any ministry, currently being autonomous. Like other central banks, ... * Pix (electroni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Machine
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff. ATMs are known by a variety of names, including automatic teller machine (ATM) in the United States (sometimes redundantly as "ATM machine"). In Canada, the term ''automated banking machine'' (ABM) is also used, although ATM is also very commonly used in Canada, with many Canadian organizations using ATM over ABM. In British English, the terms ''cashpoint'', ''cash machine'' and ''hole in the wall'' are most widely used. Other terms include ''any time money'', ''cashline'', ''tyme machine'', ''cash dispenser'', ''cash corner'', ''bankomat'', or ''bancomat''. ATMs that are not operated by a financial in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CPF Number
The CPF number (', ; Portuguese for "''Natural Persons Register''") is the Brazil, Brazilian individual taxpayer registry, since its creation in 1965. This number is attributed by the Receita Federal do Brasil, Brazilian Federal Revenue to Brazilians and resident Alien (law), aliens who, directly or indirectly, pay taxes in Brazil. It's an 11-digit number in the format 000.000.000-00, where the last 2 numbers are check digits, generated through an arithmetic operation on the first nine digits. In May 2020, a digital version of the document was promoted for Android and iOS. In June 2020, an audit from the Tribunal de Contas da União (''Federal Court of Accounts'', often referred to as TCU) revealed that there was at least 12.5 million CPFs more than the total population. During COVID-19 pandemic the Revenue reported 223.8 million active CPFs, the problem is that, according to the Brazilian Institute of Geography and Statistics (IBGE), the Brazilian population at the time of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UUID
A universally unique identifier (UUID) is a 128-bit label used for information in computer systems. The term globally unique identifier (GUID) is also used. When generated according to the standard methods, UUIDs are, for practical purposes, unique. Their uniqueness does not depend on a central registration authority or coordination between the parties generating them, unlike most other numbering schemes. While the probability that a UUID will be duplicated is not zero, it is generally considered close enough to zero to be negligible. Thus, anyone can create a UUID and use it to identify something with near certainty that the identifier does not duplicate one that has already been, or will be, created to identify something else. Information labeled with UUIDs by independent parties can therefore be later combined into a single database or transmitted on the same channel, with a negligible probability of duplication. Adoption of UUIDs is widespread, with many computing platforms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CNPJ
The Brazilian National Registry of Legal Entities (Portuguese: ''Cadastro Nacional de Pessoas Jurídicas'', “CNPJ”) is a nationwide registry of corporations, partnerships, foundations, investment funds, and other legal entities, created and maintained by the Brazilian Federal Revenue Service (''Receita Federal do Brasil'', “RFB”). Currently, all companies are automatically enrolled in the system upon incorporation. The system uses a fourteen-digit number, which is made up of an eight-digit unique identifier, a four-digit branch identifier, and two check digits. The first number (even though it does not belong to the first company to be enrolled), 00.000.000/0001-91, has been assigned to Banco do Brasil, the country's largest public bank. The CNPJ has become the most important number for commercial transactions between companies due to its ubiquity and official status. The RFB maintains a publicly accessible website where any CNPJ number can be checked; thus, for many pur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Systems
A payment system is any system used to settle financial transactions through the transfer of monetary value. This includes the institutions, instruments, people, rules, procedures, standards, and technologies that make its exchange possible.Biago Bossone and Massimo Cirasino, "The Oversight of the Payment Systems: A Framework for the Development and Governance of Payment Systems in Emerging Economies"The World Bank, July 2001, p.7 A common type of payment system, called an operational network, links bank accounts and provides for monetary exchange using bank deposits. Some payment systems also include credit mechanisms, which are essentially a different aspect of payment. Payment systems are used in lieu of tendering cash in domestic and international transactions. This consists of a major service provided by banks and other financial institutions. Traditional payment systems include negotiable instruments such as drafts (e.g., cheques) and documentary credits such as letters of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Brazil
The Federal Government of Brazil (''Governo Federal'') is the national government of the Federative Republic of Brazil, a republic in South America divided in 26 states and a federal district. The Brazilian federal government is divided in three branches: the executive, which is headed by the President and the cabinet; the legislative, whose powers are vested by the Constitution in the National Congress; and the judiciary, whose powers are vested in the Supreme Federal Court and lower federal courts. The seat of the federal government is located in Brasília. Division of powers Brazil is a federal presidential constitutional republic, which is based on a representative democracy. The federal government has three independent branches: executive, legislative, and judicial. The Federal Constitution is the supreme law of Brazil. It is the foundation and source of the legal authority underlying the existence of Brazil and the federal government. It provides the framework for the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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