Shopkeepers received a measure from the Central Bank to guarantee legality to receive all amounts with purchases through card transactions, even in the event of company bankruptcy.
Therefore, federal law 12,685, of 2013, which defines the means of payment, interferes in three steps that explain the purchase of a product, until the money reaches the merchant.
Central Bank give guarantee
For example: John bought goods on his credit card, paid for the purchase on the invoice. The responsible bank receives the amounts, and pays the vending machine companies, and these pay the shopkeepers.
In existing bankruptcy situations, the money would stay with the owners of the machines. Although with the new rule of the Central Bank, the shopkeepers who would be left without receiving, will be paid. However, the BC text makes an exception on some particularities of the market in Brazil.
In Brazil there are the institutions, which are the card brands such as Visa and Mastercard, creditors such as Cielo, PagSeguro, Rede among others and the card issuers such as financial institutions.
Therefore, the best way is to “transfer”. As a guarantee of payments, it maintains the flow, ensuring that the money leaves the customer and reaches the shopkeepers, regardless of failures in the sector.
Especially at this time of the coronavirus pandemic, where uncertainties both nationally and internationally, measures need to be even more adopted and urgent.
Chains need more security and obligations to give more guarantee to shopkeepers. With law respecting the entire purchasing process, and following the strictest standards.
However, the measures help with the protection, that this money left the consumer to pay the bill, that it reaches the establishment and seller. Even though there is a system failure or problems with some of those involved.
