I´m always baffled by the fact that PIX discussions (almost?) never address issues of privacy: the whole system is offered (and run) by the Brazilian central bank. Due to its popularity here, the central bank has enormous, detailed and live insight into a citizen´s financial life.
Even the dullest and most unimaginative civil servant / tax office employee / security or police member must have wet dreams imagining all the possibilities...
Meaning you need a court order to get access to personal transfer statements and the government already forced private institutions from reporting certain types of transactions to the central government.
It is not ideal, since this is not a constitutional right, just a law. But not that different from how it was before. However I believe the central bank can use anonamized data, which can be a good (analytics on where population spend money) or a bad (cracking down on certain types of business) thing.
Also it has come to a point that data going to private companies (like VISA/Mastercard) always ends up sold to private (and usually foreign) data-brokers to make profiles on you, at least the gov doesn't do that*. The main argument is that PIX is killing cash transactions, that is the _real_ loss here.
Like the political targeted ads backed by Russia during the whole Cambridge Analytica scandal, preventing foreign companies from analytics on your population is now a national security concern.
Even the dullest and most unimaginative civil servant / tax office employee / security or police member must have wet dreams imagining all the possibilities...