Over the years, the Brazilian Government and the Central Bank have been searching for define rules for the creation and use of payment means. They aim to safeguard both companies and users, having implemented measures, including the MP 615/13 and Law 12,865 / 13, ensuring the central bank the authority to regulate the establishment, operation, management and service delivery of all institutions that offer means of payment.
Despite these regulations, there have been various entities that offer alternatives to traditional payment methods, providing greater agility and flexibility in buying and selling of goods and services, and managing to contemplate the 55 million people who do not have bank accounts or who do not use credit cards.
In fact, the use of the credit card has been increasingly important in a growing market, especially for its use in online shopping, leaving the current cash and checks back.
The adoption of mobile payments has generated great interest of the companies that saw this payment method is enormous potential in this market.
Taking into account the amount of new and existing means of payment, as well as speculation surrounding them, the government of Brazil and the Brazilian central bank, formulated new measures. However it find various obstacles.
Supervision and regulation of monetary authorities and telecommunications is difficult; imposing limits the collection of fees, the preventive control against money laundering becomes a problem in that sufficient resources are needed to make such an inspection. The responsibilities and legal obligations of each player, who have many difficulties in adopting some rules due to the high cost of change processes and management aspects, are some of the obstacles that must be overcome.
This regulation is on track, although still short, insofar as it could provide the legal security for organizations who wish to invest in the payment methods sector, as well as managed to give tranquillity to those already implemented in the market.
The companies in this sector also have to ensure security in their transactions possible by PCI DSS.
In fact, people still feel wary when it comes to mobile and card payments, mainly online, because they do not trust the identity of their data, they fear not to be confidential, although it is a feeling in descending phase after the regulations of the Government and Brazilian Central Bank.
PCI DSS, Payment Card Industry Data Security Standard, helped evading this issue, reducing the fear of people in the inclusion of their data online. This was created by Mastercard, Visa, Discover, American Express and JBC and all marketers that use these patents in their establishments, although not required by the government, they require the incorporation of the PCI DSS.
In case anyone renouncing its incorporation, and in the case of customer data theft, traders can see their values increased in a high-value penality.
The central bank also announced that companies with volumes greater than R $ 500 million, necessarily have to be certified and monitored from the point of view of audit and inspection. In 2018 the companies that accompany these earlier announced are all showing volumes greater than R $ 250 million, and in 2019 greater than R $ 50 million.