Regulation promotes higher standard of excellence in the payment industry in Brazil



Associated with the evolution of the payment methods and acceptance of the use of new technology by the Brazilian customer, there is a growing demand for new laws and regulations that require greater specialization in the provision of the outsourced services of the payment methods institutions.

The definition of a legal and regulatory framework has started to be discussed several years ago by the government. In 2009 the study of the practices came to a consensus that a specific regulation for the payment industry was needed.

In general terms that action of the government through the implementation of the MP 615/13 and Law 12.865/13 has determined the performance of the Central Bank of Brazil especially in the authorization of the constitution, operation, governance and payment service provision for all the payment method institutions in the country.

The competition was encouraged and a fundamental step towards the elimination of the existing barriers for the development of the industry of the electronic payment methods was established.

The institutions were classified into three categories: electronic money issuer (companies that manage prepaid transactions, converting physical currency into electronic currency); issuer of postpaid payment instrument (credit card administrators, for example) and acquirers (companies that enable those who will accept payment transactions).

This classification should provide greater transparency in the industry by encouraging the performance of outsourced services with a high standard of excellence.

By promoting the competition, financial inclusion and transparency in the service provision the measure will boost growth and maturation of the sector. In this way, companies and customers will be benefited with the regulation.

About allpago international

allpago international provides a full-spectrum of payment services in the LATAM region. allpago works as a payment gateway, a white label payment service provider (PSP) or a product and service reseller for merchants and payment service providers interested in the LATAM markets.

allpago’s features include one-click payments, recurring payments, instalments, dynamic descriptor and mobile payment solutions. The company’s html 5.0 code allows multiscreen and is as easy to implement into the store through the “plug and pay” feature. Furthermore, the company offers a fully integrated Risk Management Solution with more than 70 checks. allpago has recently become the first LATAM payment solution provider of the Merchant Risk Council (MRC).

Current clients include,, McAfee, Teamviewer, and many other leading payment or digital companies from various sectors.


Image courtesy of Jeroen van Oostrom /