Attention: Change in PIX rules

The Central Bank published Resolution No. 293, of 2/15/2023, bringing adequacy criteria and transition regime for situations affected by the provisions contained in art. 90-A, brought by BCB Resolution No. 269/2022.

Regarding adequacy, the Central Bank established that “Pix participants who, on December 1, 2022, had a current contractual relationship with third parties reached by the provisions of item I of art. 90-A must adapt their Pix-related operations in order to ensure adherence to this Regulation”, and the Participant must communicate the need for adaptation to the third party.

The third party that wishes to maintain the provision of the service to end users must:

a) adapt their contracts signed prior to December 1, 2022;
b) hire a responsible participant to make their participation in the Pix feasible; It is
c) submit an application to join Pix by May 31, 2023.
If the above requirements are met, the third party will exceptionally allow the continuation of the provision of services to end users during the process of joining Pix.

The transitional regime does not apply:

I – in cases where the third party acted as an issuer of electronic money in a situation that required prior authorization from the Central Bank; It is

II – in cases where the third party does not hold a transactional account, the initiation of Pix transactions through the transactional account provided by the participant.

In these cases, the Participant must proceed with the immediate cessation of the services that offer access to the Pix, ensuring proper communication to end users.

Standard link: https://lnkd.in/dRb-mNxn

If you have any questions, the BTLAW Payment team is at your disposal.