On a Sunday afternoon at a busy intersection in central Brasilia, a woman asks passing motorists for money. Her cardboard sign, written in marker in Portuguese, reads: "Need help. Hungry. I accept Pix." Pix, a system that allows fast money transfers over smartphones, has become ubiquitous in the 11 months since it was introduced by Brazil's central bank. All that's needed to send cash to someone is a simple key they've set up, such as an email address or phone number. Similar to the privately owned Zelle in the U.S., Pix works through multiple apps from banks and other digital wallet services. It's already been used at least once by no million Brazilians and about $89 billion has moved through the network. Brazil now registers more instant transfers than the U.S.
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