Brazil vs Japan · Real-time payment systems compared
| Capability | Pix | Zengin |
|---|---|---|
| QR Code Payments | ✓ | — |
| Wallet Support | ◐ | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | — | — |
| ISO 20022 | ✓ | — |
| Request to Pay | ✓ | — |
| Open API | ✓ | — |
| Alias/Proxy | ✓ | — |
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.
Japan's domestic interbank clearing network, one of the oldest electronic payment systems in the world, connecting over 1,000 banks and financial institutions. Originally a batch-processing system, Zengin was upgraded to 24/7 real-time operations in 2018 via the "More Time System" extension. Operated by the Japanese Bankers Association with settlement through the BOJ, it handles the vast majority of Japan's domestic credit transfers. Note: data includes all Zengin transactions (both real-time and batch-processed), as the system does not separately report its 24/7 instant component.