Brazil to allow credit fintechs to initiate payment transactions

PagSeguro Digital

25/11/2022 17:09

BRASILIA, Nov 25 (Reuters) - Brazil's National Monetary
Council on Friday decided to allow credit fintechs to initiate
payment transactions, the central bank said, a move that will in
practice clear them to provide payment services to consumers and
business establishments.
    Payment initiators, the central bank said in a statement,
"initiate a transaction ordered by the final user but never
manage the payment account, nor hold the funds of the
transactions".
 (Reporting by Isabel Versiani; Editing by Steven Grattan)
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