A woman pays for a purchase at Copacabana Beach using Brazil's Pix instant payment system in Rio de Janeiro, Brazil, on July 9, 2026. It started as a payment tool and became a source of national pride. In just a few years, Brazil's PIX established itself as the dominant payment method in Latin America's largest economy. But in the process, it stepped on the toes of powerful interests in the United States. (Photo by Pablo PORCIUNCULA / AFP via Getty Images)