The Brazilian Instant Payment Scheme (PIX) is interesting, because it is launching within a year with both a mandatory QR code scheme and an Identifier Database (DICT) on top of the existing TED transfer system https://www.bcb.gov.br/en/pressdetail/2313/nota … Both features EU SEPA and US RTP are missing
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Replying to @thijsniks
Is this similar to what the Thailand banks are doing?
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Replying to @DanGrover
Yup, same thing. They launched PromptPay as their real-time bank transfer network (based on Vocalink tech), offer an identity directory, and the QR code is based on the EMV standard https://www.bot.or.th/English/PaymentSystems/PolicyPS/Documents/PaymentRoadmap_2021.pdf … https://www.bot.or.th/Thai/AboutBOT/Activities/event/Documents/ADBI_bancha.pdf … https://github.com/dtinth/promptpay-qr/blob/master/README.md …pic.twitter.com/3cRbU18K1w
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Replying to @thijsniks @DanGrover
Indonesia has done the same thing https://www.bakermckenzie.com/en/insight/publications/2019/08/bank-indonesia-launches-standard-qr-codes … And is requiring wallets to use themhttps://www.techinasia.com/indonesia-imposes-standard-qr-code-fixed-fees-wallets …
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I don’t quite understand why the central banks in Brazil and Thailand are standardizing on EMV codes though. They have a real-time bank transfer network, so they don’t need the expensive card networks. My guess is that banks prefer the EMV codes to maintain interchange income
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