With Pix, then, we’ll no longer have to pay the banks for service packages, since we pay for having DOC, TED, and withdrawals available, right?
Withdrawals will remain necessary if you want cash and you don´t keep track of how many withdrawals you want to make in a month.
No, they won’t. Just like cards didn’t kill checks. It’s still around today and still used on some occasions.
I hope I can pay the slips and bills through Pix
This should be the first thing to die with PIX. Boleto charges are expensive to issue.
After getting to know Brazil, I’m more conservative — I think it’ll take a good 6 months to a year to migrate all the systems over to PIX.
I’d kick it five times more to get it working for real. hahaha
The financial sector is the only thing that works properly here, and on time. I believe it’ll be working soon.
Only the IT sector doesn’t. hahaha
Probably in the long run, but at first Pix will basically be used by a smaller portion of the population. And it’ll take a while for the rest to understand that Pix replaces DOC and TED.
Banks may also revamp their service packages, changing what they offer to make it more attractive in the coming landscape.
No, because banks can also charge for SAC (Customer Service), “VIP” support, and other things they’ll keep trying to sell. After all, fintechs and digital banks don’t charge for TED (bank transfer) and still haven’t managed to “bring down” the big banks.
The PIX schedule is really well aligned. It will start working a week before Black Friday, so we should see lots of retailers helping to boost PIX adoption (because it’s much cheaper than boleto), in addition to the banks that are already helping with understanding because they want their keys registered with them.
I think PIX was an extremely well-aligned project. I started following the project a bit more closely last year when it wasn’t even called PIX yet, and the involvement of all layers of the payment system helped a lot with the structure and consequently will help drive its usage.
Of course, in the end, everything depends on population adoption, but we’ll certainly see many initiatives promoting PIX in various different sectors, which should help this adoption happen very quickly.
Answering the topic’s question, I believe nothing should cease to exist instantly. As mentioned above, checks still exist! So things taking a while to disappear makes sense because DOC (which is a worse TED) still exists too.
The first thing we should start seeing a strong migration from, I believe, are boletos due to the costs involved. The cost of boleto is usually absorbed by the issuer, while DOC/TED costs fall on the end user making the transaction.
But the basic rule is that the most sensitive organ of the human body is still the wallet; anything that generates cost savings will likely be migrated to PIX. We just have to wait until November to start understanding the speed of this.
The ones who will define PIX adoption are the companies that send you bills. If they send you a Pix instead of a DOC for you to pay, you‘ll go after it and pay it, and they‘ll quickly migrate to Pix due to its lower settlement cost and higher speed.
Looking at it that way, yes, but a large part of the population still goes to the ATM to make a TED (bank transfer), and in some cases they still need help from the tellers. For these people, using PIX won’t be an easy and quick process, which is why I made my comment above.
There’s your mistake. PIX at first focuses on a system to replace boleto bancário. This will happen quickly — it doesn’t depend on the public learning or understanding what they’re doing. The boleto will become a PIX, and it’s up to whoever has to pay to figure it out. Even if you take that code and pay at a lottery outlet, the company will receive the money instantly and at a much lower cost.
I don’t think these services will die, but I understand that TED and especially DOC should fall into disuse over time.
To this day I still don’t understand why DOC still exists. Why isn’t there only TED?
If I’m not mistaken, there are some differences under the hood of each one, even though on the surface they may look like the same thing.
But even so, I think there’s no reason for the DOC to still exist, except for the banks’ inertia.
Bank slips (boletos) are based on the DOC system, which is why it still exists. Also, it allows transactions to be made outside of TED’s operating hours.