@maccruiskeen @stefan That's what my country (Brazil) did. PIX is operated by our Central Bank, is lightning fast, and mostly free of charge (Corp accounts pay a fee, but it is cheap).

The entire thing costs like 10M USD a year to run last I checked. For a country this big, it's an absolute bargain.

This has revolutionized things so much that Trump used it to justify sanctions (because it hurts Visa and MC).

@maccruiskeen @stefan an opaque bank with poor customer service and weird regulatory position? Nah

Instant inter-Bank transfers should be the default for all banks, it should not require a third-party app. Should be a requirement for a bank to be called a bank.