Brazil caps fees, shortens payment terms in billion-dollar meal voucher market
11/11/2025 20:49
BRASILIA, Nov 11 (Reuters) - Brazilian President Luiz Inacio Lula da Silva signed on Tuesday a decree seeking to lower intermediation costs in the country's multi-billion-real meal voucher market, which will cap card processor fees and shorten settlement periods. Meal and food vouchers move about 170 billion reais ($31.46 billion) annually in Brazil under the Worker Food Program (PAT), created in 1976 to grant tax benefits to companies providing meals to formal employees. (Reporting by Marcela Ayres; Editing by Gabriel Araujo) ((fernando.cardoso@thomsonreuters.com;))