The Individual Microentrepreneur (MEI) may lose the free financial services provided by fintechs such as exemption from maintenance fees, issuance of slips and Pix. The proposal depends on a regulatory change being studied by the Central Bank
According to an article in Folha de S. Paulo, the draft resolution, released by the BC in October 2021 for public consultation, establishes a ceiling of 0.5% in the interchange fee for transactions carried out with prepaid cards.
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In addition, the new proposal provides for the application of a maximum limit of 0.5% for all transactions involving corporate cards and non-face-to-face purchases in both arrangements. This remuneration is one of the main revenues of fintechs, so a significant reduction could make the business model of a portion of financial startups unfeasible.
Individual entrepreneurs, who have a special tax regime, are among the consumers who would be affected by the new rules. The draft resolution presented to market agents is still under study and should undergo changes in its final version.
Fintechs argue that, despite their similar use, debit and prepaid cards are different products from a technical-legal point of view. If the regulation being studied by the BC is approved, the Zetta association asked the municipality to consider that the reduction in the interchange fee be made in a staggered way so that fintechs have time to adapt.
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