UnionPay to plug Chinese payment apps into Brazil’s Pix after US tariffs over the system
UnionPay International plans to connect Chinese payment apps to Brazil's Pix payment system, allowing Chinese tourists to make payments by scanning a code. This move is significant as it may help to increase Chinese tourism and trade in Brazil, despite ongoing tensions between the US and Brazil over the use of Pix. The US has imposed tariffs on Brazil over the system, but UnionPay's move could help to mitigate the impact of these tariffs on Chinese businesses and individuals in Brazil.
Read the source report: South China Morning Post
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