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On Friday (21), the Central Bank defined the implementation of the instant pay system, thus paving the way for the country to make uninterrupted resource transfers, including out of hours. opening of banks.
For Specialists In the market, the system – which will have a centralized structure and settlement of operations within the OC – will create a faster and cheaper alternative than the TED and DOC, the services most used for transfers between individuals and involving individuals and commercial establishments [19659002] By way of comparison, a transfer made today through banking channels costs the customer between R $ 2.30 and R 143.25 per transaction. The value reaches the recipient the same day as it takes place between 6:30 and 17:00 the so-called business days.
With instant payment, the price of the transaction drops to 100 cents, the operation is completed in seconds and can be performed 24/7.
Therefore, the The new model is expected to have a significant impact on both banks and the payment system, as instant payments are considered potential substitutes for purchases now paid with credit and debit cards.
British Columbia will also consult with market participants to develop specific rules on how to access and operate the system, the municipality said in a statement.
The idea is that the model allows the participation of unauthorized banks to operate by the authority. financial service platforms, known as fintechs.
"The system will have a dynamic of open participation in different types of payment service providers, fostering the development of innovations and services that meet the needs of end-users in a competitive environment," says the text of British. Market agents will be able to use bank reserves and government securities for liquidity of transactions.
According to market discussions with the UK market, the functioning of the system depends on the interoperability between the institutions involved, both for the universal and for security.
"It is expected that the instant payments system will work in Brazil from 2020," Mastercard's Brazil and Southern Cone President João Pedro Paro Neto told Reuters.
The move fits into the lineage of other markets where instant payment has rapidly gained popularity. In China and India, it is estimated that only WeChat and Alipay technology companies are spending more than $ 3 trillion a year.
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