Campos Neto predicts end of credit cards

Roberto Campos Neto
Roberto Campos Neto
Photo: Cacalos Garrastazu

The governor of the Central Bank of Brazil said on August 12 he expects the country’s Pix instant payments system will make credit cards obsolete “soon”. Roberto Campos Neto was speaking at a cryptocurrency conference hosted by a Brasilia law firm.

Campos Neto said that Pix, and the Open Finance regulations that allow information sharing between banks, will allow credit and debit payments to be made via the Pix app.

“This system eliminates the need to have a credit card. I think that credit

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