Diem – A rebrand of Facebook’s Libra

Re:Diem – A rebrand of Facebook’s Libra by giovannibonetti on Sunday December 06, 2020 @02:16PM (#25325840)

> In the UK, I have low-cost, fast, reliable, accessible money transfers. Basic bank accounts are free, and come with reliable free instant transfers to any other UK bank. That may not be reality in all countries, but it is in many.

It is also a reality in Brazil. Last month the government and the banks released a standard money transfer protocol (PIX) which superseeds the other protocols (similar to ACH in USA). Cheap, instant payments 24h a day regardless of the bank are a reality here today.

Hence I don't see FB having much success in Brazil with this product.

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Re:Diem – A rebrand of Facebook’s Libra by rglullis on Monday December 07, 2020 @03:36AM (#25330380)

> I don't see FB having much success in Brazil with this product.

Really?! They just need to tie whatsapp payments with a novi wallet, perhaps offer a few bucks as bait and suddenly they get millions of users.

Never underestimate the power of a monopoly position.

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Re:Diem – A rebrand of Facebook’s Libra by emteycz on Sunday December 06, 2020 @05:11PM (#25327105)

What about sending money out of Brazil, and non-permanent residents of Brazil?

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Re:Diem – A rebrand of Facebook’s Libra by mikaelmello on Monday December 07, 2020 @12:09AM (#25329486)

Any person with a CPF, our individual taxpayer registry identification, can use PIX. Non-permanent residents of Brazil are included in this category.

As for international transfers, the Central Bank is looking at simplifying existing regulations in order to allow international transfers as late as 2023

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