According to the Federation, assessments by the USTR – Office of the United States Trade Representative – result more from incomplete information about the objectives and functioning of the system
The Brazilian Federation of Banks (Febraban) defended Pix this Tuesday (02) and countered criticism from the United States about the system. “THE PIX is a payment infrastructure, not a commercial product, which favors competition and the proper functioning of the payment system and, consequently, economic activity.”, said the body in a note. “It is an open and non-discriminatory model, with the participation of banks, fintechs, national and foreign financial institutions.”, he added, reiterating that there is no restriction on the entry of new participants, of any size or segment of the financial industry, as long as they operate in the national market, as it is a local payment system and in reais, the Brazilian currency.
For the Federation, the evaluations of the USTR – Office of the United States Trade Representative – results from incomplete information about the objectives and functioning of PIX. “We have good expectations that, within the scope of the public hearing system, which remains open by the USTR, contributions from the Central Bank of Brazil (BCB) and members of the Brazilian banking system, including American banks”, says the note, which explains that PIX was developed with broad cooperation from banks and other institutions that make up the Brazilian Financial System.
A demonstration occurs after the publication of the results of a commercial investigation conducted by the American agencywhich points to Pix as one of the factors that could make it difficult for US companies to compete in the Brazilian market.
O The Federation’s position comes at a time when the American body proposed an additional tariff of 25% on Brazilian exports from July 15th. The measure is part of an investigation into alleged commercial practices considered unfair by the United States.
In the draft released by the American government, the Pix is cited several times as an instrument that could limit the activities of foreign companies in the digital payments sector. The assessment, however, is contested by the Brazilian financial system.
*With information from Agência Brasil
