Double advantage
This article was translated by an automatic translation system, and was therefore not reviewed by people.
2/10/2009
Sector credit card will gain new rules of operation, with the encouragement of competition between flags. Consumers should be helped by lower interest rates and a higher price on account
Rio - The consumer can earn twice with new rules on the credit card. In addition to having more options, regulation can lower costs of tenants and reduce the final price for the customer. The Central Bank, together with the Ministries of Justice and Finance, made an X-sector, which charges the highest interest rates on consumer credit, and identified ways to increase competition and transparency. Now the government must determine whether the standards will be applied.
Edna Santos, owner of Bless cosmetics shop, in downtown Rio, considers the fees paid to card operators too high, especially when the client portion of the total: "I always struggle to sell upfront and in cash. Without that obstacle, I think it would sell more because it could give discount.
The credit card is one of the most used payment in the country, but is not supervised by the government. Unlike other forms of credit, the interest charged on the card were the only ones who did not fall by cutting its base rate (Selic). The study found that Visa and Mastercard concentrate over 90% of users and the largest party network, which open space for imbalances in the contracts. "The businessman smaller pay the higher rate and have less bargaining power to negotiate with carriers. The sector has to be regulated, "argued João Carlos Gomes, economist at Fecomércio-RJ.
The Brazilian Association of Credit and Services (Abecs) said in a statement it expected "significant changes in the patterns of operation and competition in the industry and you want to contribute to the improvement of the market of electronic payment.
In search of more efficiency
The Central Bank study showed distortions that occur only in Brazil. In Europe, the payment to the merchant occurs in two days instead of 30 days from now. The average rate of pay administration of 5% in Brazil, is 2% out of the country
Without competition, the industry also creates charges on transactions that do not have legal support. Among the measures recommended to lower costs, are the adoption of operator terminals that work for all flags, nationalization of the procedures of the release of credit and the increase in the number of flags in operation.
Source: The Day
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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