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A measure to facilitate competition in the credit card sector has been postponed to three months. The National Monetary Council (CMN) changed the April 8 the beginning of the validity of the standard that reduces the "bank blocking" of tenants. The standard would come into effect today (31).
According to the Central Bank, postponement was necessary because financial institutions and purveyors of credit cards had difficulty adapting systems allowing traders to freely choose the bank from which they anticipate claims on credit cards. The Central Bank circular governing the subject was also postponed to of 8 April .
Last month, CMN had approved the release of the loan advance market, in which the trader receives in advance. sales resources with credit card. Until now, traders could only perform this type of operation with the financial institution linked to the card issuer.
The measure will end the "bank blocking", the exclusivity of the subscription of receivables. According to the Central Bank (BC), this hinders competition in the credit card sector because the merchant is required to make future debt transactions with a single institution.
In the case of a trader who received 100 dollars R in cash and an additional $ 900 must be received from a customer who bundled the purchase, the trader could only request that the customer be in charge. anticipation of this $ 900 from the bank that accredited the card machine. With the liberalization of the market, he can ask for money from any financial institution. According to the Central Bank, this measure will increase competition between the creditor and the banks.
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