[pedrocx486]

Brazil is doing a similar bank-agnostic system called PIX. Kinda interesting how in the previous thread where I mentioned it a lot of people were against it because it was "not competitive" while here I'm seeing (mostly) praise for UPI.

IMHO, this is how it should be, a bank-agnostic standard set by the central bank that other services use to connect to the central and with each other. Competition is good? Yes, but not when it's a complete mess.