10/31/2023 – 19:04
The Central Bank approved a resolution to adjust the regulations on the registration of card receivables, to make it simpler for store owners to terminate advance contracts with their acquirer. According to the BC, this allows traders to start a new relationship with other financiers more quickly.
The regulations provide that, following the retailer’s request, these contracts must be terminated within two business days. Additionally, the approved resolution now establishes that, if the accreditor does not meet this deadline, it will be up to the registration system to adjust the priority of the assignment promise contract in relation to other contracts applied to the receivables schedule.
“These measures make it easier for retailers to assert their will over business with their receivables schedule”, assessed the BC, in a note. “In addition, the date of April 1, 2024 is established for the fulfillment of regulatory duties applicable to accrediting institutions and registration entities in order to adjust them to ongoing demands”, added the institution.
The Central Bank reinforced that these measures are not related to discussions on credit card revolving that are being led by the monetary authority with the market.
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