✓ verbatim from the press
Former congressman Eduardo Bolsonaro (PL-SP) suggested on Wednesday (3) that Brazil could use the American payment system Zelle as an argument in commercial negotiations with the United States. During an interview with TMC News channel, he stated that "the United States has mechanisms very similar to Pix, such as Zelle, which is the United States' Pix". ✓
Press quotes (1)
"Ao canal TMC News, o filho do ex-presidente Jair Bolsonaro disse que os "EUA têm mecanismos muito semelhantes ao Pix, como por exemplo o Zelle"."
The statement occurred amid pressure from the Trump administration on Brazil's instant payment system. The United States Trade Representative (USTR) recommended an additional 25% tariff on Brazilian products, alleging that "Brazil has unfairly harmed American companies operating in competing electronic payment services, including through policies that favor its national champion, Pix". ✓
Press quotes (1)
"O Brasil tem prejudicado injustamente as empresas americanas que atuam em serviços concorrentes de pagamento eletrônico, inclusive por meio de políticas que favorecem seu campeão nacional, o Pix", afirma o documento da investigação comercial iniciada contra o Brasil em julho do ano passado."
The two systems differ fundamentally in structure and control. Pix is a public system operated by Brazil's Central Bank, with mandatory participation for financial institutions with more than 500,000 accounts. Zelle, in turn, is operated by Early Warning Services, a company controlled by seven major American banks, including Bank of America, JPMorgan Chase and Wells Fargo, with voluntary adherence by financial institutions. ✓
Press quotes (1)
"O serviço é operado desde 2017 pela Early Warning Services, empresa que é copropriedade de sete dos maiores bancos americanos: Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank e Wells Fargo."
After negative repercussion, Eduardo Bolsonaro denied having proposed replacing Pix with Zelle. In a video published on social media on Thursday (4), he stated that he "never said that" and that his statement referred only to the existence of equivalent systems to facilitate commercial negotiations between the two countries. ✓
Press quotes (1)
"Jamais disse isso", afirma Eduardo Bolsonaro"
Eduardo Bolsonaro made statements about Zelle during TMC News interview on Wednesday (3)
USTR recommended 25% tariff on Brazilian products citing Pix
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (2)
Pix was created during Bolsonaro government
Eduardo Bolsonaro mentioned rare earths as negotiation currency
Conflicting versions (1)
Interpretation of Eduardo Bolsonaro's statements about Zelle
-
What would be the technical feasibility of integration between Zelle and Pix for Brazil-US international payments?
Why it's still unknown: No source presents detailed technical analysis on system compatibility or implementation costs.
-
Is there any normative act in process that regulates bilateral payment agreements between Brazil and the US?
Why it's still unknown: Eduardo Bolsonaro's proposal would imply regulatory changes that were not identified in competent bodies.
-
What is the official position of Brazil's Central Bank on integration with foreign payment systems?
Why it's still unknown: Sources did not consult the Central Bank about technical or legal feasibility of the proposal.