Subcredenciadorqual o regime jurídico aplicável e as problemáticas relacionadas a este participante dos arranjos de pagamento?

Resumo

Since the publication, in 2005, of the Payment Cards Industry Report produced by the Brazilian Central Bank with the Secretariat for Economic Development (SDE) and the Secretariat for Economic Monitoring (SEAE), the Federal Union has been acting in the payment processing industry to correct market inefficiencies, minimize systemic risks arising from electronic payment transactions, prevent money laundering and terrorist financing and promote financial inclusion, not only through its antitrust system, but also through regulating the industry, with the enactment of Law n. 12,865/2013. At first, the regulatory framework covered payment schemes and the obligations of their settlors (owners) and of some payment institutions which participated in the payment scheme (issuers and acquirers), but it did not address the subacquirer, whose business activity used to be covered only under the agreements executed with the acquirer. During discussions on the implementation of a centralized liquidation, the activity performed by the sub-acquirer as well as its relevance to the market became more evident. However, it was still uncertain how the sub-acquirer should be classified and how its participation in payment schemes should be addressed. In March 2018, the Brazilian Central Bank enacted Circular No. 3,886/2018, which partially clarified that issue. Such regulation defined the characteristics of the sub-acquirer and imposed the obligation, for sub-acquirers and settlors (owners) of the payment schemes, to execute a partnership agreement. In principle, the sub-acquirer is not directly regulated by the regulatory framework, but the regulation affects its activity, as it is inserted in the payment schemes scope and based on the relations established with their settlors (owners) and the acquirers, whom are subject to the regulation. In this context, this study aimed to raise, consolidate and analyze the effects of the legal structure existing today and which is imposed on the sub-acquirer, therefore creating rights and obligations for this player and defining its activities. Based on the material gathered and on the interviews with the operators representing different types of payment service providers, this study also reflected on some specific problems encountered by the sub-acquirer, as such player’s risks, the adopted monitoring methods, the requirement (or not) to share competitive sensitive information, the compatibility (or not) between the agreements imposed on the subacquirer, the marketplace’s uniqueness and the responsibility extent of the acquirers regarding default in the liquidation of payment transactions captured by the sub-acquirer.

Ficha do documento

Tipo

Dissertação

Ano

2021

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/30297

Temas

Desenvolvimento Econômico

Palavras-chave

Electronic means of paymentSub-acquirerPayment facilitatorMarketplaceBrazilian Central BankMeios de pagamento eletrônicosSubcredenciadorFacilitadorBanco Central do BrasilDireitoTransferência eletrônica de fundosPagamentosComércio eletrônicoDireito empresarial