3/1/2021
The National Monetary Council (CMN) and the Central Bank of Brazil (BCB) approved the Resolution BCB No. 72 and Resolution CMN No. 4,888, which extended once again the entry into force of the receivables registration rules, which would previously take place on February 17, 2021.
The extension was necessary because one of the registration entities declared that it would not be possible to carry out all the tests necessary for the interoperability of the systems until February.
In addition, the fact that some accrediting entities, who are responsible for making sure that the amounts linked to the customer’s account pass through the registering entity and arrive at the merchant’s account – would be excluded from the new model of registration and negotiation of receivables.
This is because the accreditors have a significant volume of operations, which encouraged the BCB to revise the previously stipulated term.
According to the Central Bank, the intention is to allow entities that register receivables and accredited, in addition to the financial institutions themselves, to have more time to adjust the security of their systems until the implementation date. In addition, the idea is to ensure the interoperability and connectivity of such systems.
The accrediting institutions must also create alternatives and even contingency for these institutions, under penalty of suspension of activities, in addition to administrative measures and sanctions provided for in the legislation in force.
Thus, it is possible to create secure mechanisms for all agents involved in the payment market, enabling legislative changes to be implemented safely, while also protecting users of tools and consumers.
Coauthors: Luísa Oliveira Ramos, Nathália Fernandes Gonçalves and Cássia Monteiro
