Indonesia vs Brazil · Real-time payment systems compared
| Capability | BI-FAST | Pix |
|---|---|---|
| QR Code Payments | — | ✓ |
| Wallet Support | — | ◐ |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | — |
| ISO 20022 | ✓ | ✓ |
| Request to Pay | — | ✓ |
| Open API | ◐ | ✓ |
| Alias/Proxy | ✓ | ✓ |
Indonesia's real-time interbank transfer system launched by Bank Indonesia to replace the aging BI-RTGS for retail payments. BI-FAST supports 24/7 instant account-to-account transfers via bank account number or proxy ID across banks, fintech firms, and e-money providers. Built on ISO 20022 messaging with a modern API-based architecture, it is one of two key payment rails in Indonesia alongside QRIS (the QR standard). BI-FAST aims to be the backbone of Indonesia's digital financial infrastructure for its 280M population.
Brazil's instant payment system created by the central bank, supporting P2P, P2B, B2B, QR codes, and bill payments. Pix reached 160M+ users within 3 years of launch, making it one of the fastest-adopted payment systems in history. Transactions are free for individuals, settle in under 10 seconds 24/7, and can be initiated via QR code, CPF/CNPJ tax ID, phone number, or email. Pix has largely replaced cash, boletos, and card-based debit in everyday Brazilian commerce.