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BRASÍLIA – A resolution approved on Wednesday, 19 by the National Monetary Council (NMC) paves the way for increased competition between financial institutions and credit card companies in the market. anticipation of claims, such as money that the trader will still receive from sales on the credit card . The new rules reduce the "bank foreclosure", which required tenants to make prepayment transactions with a single financial institution.
According to the Central Bank's Regulatory Director, Otavio Ribeiro Damaso, the resolution, by advancing the issue of bank loans, increases the efficiency and competition in the card business.
Damaso explained that currently, if a merchant makes a credit card sale, he may possibly advance this claim to the financial institution related to the creditor of the card. But in doing so, it locks the merchant's entire accounts receivable program – that is, everything he gets, not just what was expected. In practice, it is "blocked" with the financial institution, forcing itself to perform other debt transactions with it alone.
"If the merchant has a $ 100 transaction and a $ 1,000 agenda, the entire $ 1,000 agenda is stuck with an institution," Damaso illustrates.
With the change announced today, the lock will only fall on the expected amount – in the example, 100 R $. In the case of the remaining R $ 900, the merchant may make new advance payment transactions with the creditor. your card machine, or other financial institutions.
By opening up the range of options for the trader, it is expected that competition between creditors and financial institutions will intensify. The new rules will come into effect on January 31, 2019. "One of the goals of the resolution is to increase efficiency," said Damaso. "This limits the banking barrier to what is actually due to the institution."
Damaso said that the changes announced today do not replace the expected pattern for the future, in which debit and credit receivables must be registered in a financial market structure. "We have a public consultation going on, but the implementation of this consultation is taking longer, and what we are doing now is a rule already aligned with the public consultation model, a transition rule."
Director of BC, it is expected that the final rule for the card sector will be announced in the first half of 2019. Twelve months after the publication of the rule, the market infrastructures have already been activated for the system, according to Damaso.
"In the future, I guarantee you this will happen (reducing costs for traders)." At the moment, we are working to keep the market functioning, "he added.
The question of banking services was one of the points of contention between the companies operating in the card market. One of the criticisms of the smaller insurers was that the banks were blocking even the future projection of the receivables – not just what was expected. On December 12, Broadcast had planned that the recipient country would prepare the publication of a policy aimed at reducing disputes in the system and increasing competition.
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