Brazilian President Luiz Inácio Lula da Silva is preparing to stand up for one of his country’s proudest technological achievements during a sit-down with Donald Trump at the United Nations General Assembly in New York. According to reports, Lula intends to make the case that Pix, Brazil’s free, government-backed instant payment platform, should not be treated as a threat to American financial interests.
Pix, launched by Brazil’s Central Bank in 2020, lets people and businesses transfer money instantly using just a phone number, email, or QR code, without fees. It has become wildly popular, reshaping how millions of Brazilians pay for everything from groceries to rent, and has drawn attention (and some criticism) from US payment companies that worry it undercuts card-network fees.
The encounter comes amid a period of friction between Washington and Brasília over trade and financial regulation, with US officials reportedly raising concerns about how Pix and similar public digital-payment systems might affect American firms operating in Latin America’s largest economy.
Lula is expected to argue that Pix reflects legitimate financial inclusion policy rather than protectionism, framing it as a tool that has brought banking access to previously underserved populations.
For the full story and more details on this diplomatic exchange, read the original report at jornada.com.mx.
Source: Lula defenderá el sistema de pagos Pix de Brasil ante Trump durante reunión en la ONU (jornada.com.mx). English version produced with AI assistance.
Image: whiteafrican, BY 2.0 (via Openverse).