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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https://www.pagbrasil.com/insights/how-instant-payments-will-transform-financial-operations-in-brazil/ …pic.twitter.com/1ddAgCOP9o
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Pix will use EMV QR codes, which helps standardization but is also slightly over-engineered and thus results in large barcodes https://www.bcb.gov.br/content/config/Documents/Central_Bank_of_Brazil_Manual_BR_Code_April_2020.pdf … Whereas EPC is much simpler https://www.europeanpaymentscouncil.eu/document-library/guidance-documents/quick-response-code-guidelines-enable-data-capture-initiation …pic.twitter.com/Y39qPII9EE
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It’s amazing how much unnecessary information EMV crammed into their QR code standard (merchant code, city, postal code, tip, loyalty, etc) and then ends their guideline with “please don’t use most of that because it makes the barcodes hard to read” https://www.emvco.com/wp-content/uploads/documents/EMV-Merchant-QR-Guidance-and-Examples-1.0.pdf …pic.twitter.com/muCMkfE6YV
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