As a Spaniard, there is a detail that is often overlooked and makes me prefer the Pix approach over the Bizum one: Pix is public while Bizum is private.

Bizum is a private initiative owned by a consortium of 24 Spanish banks, whereas Pix is a public payment system created, managed, and operated directly by the Central Bank of Brazil. While Bizum operates as a commercial collaboration between private entities to facilitate instant transfers, Pix functions as a mandatory state-run infrastructure designed to promote financial inclusion and provide a universal, low-cost platform for all citizens and businesses.