Investor Presentaiton
Annual Report
AR
2022
SUMMARY
WHO WE
ARE
OUR
STRENGTH
AND
OUR
RESOURCES
OUR
RESULTS
Agenda BC#
Improvement of rules for registering and
negotiating credit card receivables
Whenever a consumer uses his or her card, a credit is
generated for the seller. These credits are known in
the financial system as "receivables" because they are
expected to be received by the seller in the future.
Sellers can negotiate their receivables, both those already
registered by point-of-sale (POS) machines and those
yet to be constituted, which have their value estimated
according to the commercial establishment's revenue
history. Receivables are thus used as a high-quality
collateral and allow credit to be offered at a lower cost,
which can lead to a financial advantage to small and
medium-sized companies.
The BCB improved the regulation on the limits and
requirements for transactions involving credit and debit
card receivables. The new rules standardize the names of
the tariffs and the forms of charging for services provided
by registrars of card receivables. They also establish that
the acquiring institutions provide a channel for commercial
establishments to access information on their registered
receivables schedules, including the negotiation contracts
carried out. Such channel will also allow establishments to
dispute terms of registers.
Under the new rules, registrars are required to respond to
disputes within five business days. They will also be required
to reconcile information on receivables, settlements, and
contracts schedules, in order to keep updated system
records. The measures will bring more transparency to this
market.
A governance framework for the interoperability between
registry systems was also created, involving not just card
receivables but also other financial assets. In this way,
systems are expected to operate in a more stable, safe
and efficient way, enabling better services and more
competitiveness.
Interchange fee and settlement lag for debit and
prepaid cards
The interchange fee is the remuneration the acquirer
pays to the card issuer in each transaction. The acquirer
is the entity responsible for enabling the acceptance of
the payment instrument by the merchant; it may also rent
or sell POS terminals to the merchant. This interchange
fee represents a cost which the acquirer passes on to the
merchant, that generally transfers it to the consumer.
The BCB improved the regulations on the limits for the
interchange fee and the settlement lag for prepaid and
debit card transactions. The objective was to encourage the
reduction of costs for merchants by making the acceptance
of these instruments cheaper. Thus, it is expected that
the savings made by merchants can be passed on to final
consumers, with reductions in product prices.
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