Retailers have received a measure from the Central Bank that guarantees legality to receive all amounts from purchases made through card transactions, even if the company goes bankrupt.
Therefore, federal law 12.685, of 2013, which defines payment methods, interferes in three stages that explain the purchase of a product, until the money reaches the store.
Central Bank gives Guarantee
For example: John bought a product with a credit card and paid for it on the invoice. The bank that is responsible receives the amounts and pays the companies that make the vending machines, which pay the retailers.
In existing bankruptcy situations, the money would remain with the owners of the machines. Although with the new Central Bank rule, the retailers who would not receive any payment will be paid. However, the BC text makes an exception regarding some particularities of the market in Brazil.
In Brazil, there are the issuers, which are the card brands such as Visa and Mastercard, the 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 store owners, regardless of failures in the sector.
Especially at this time of the coronavirus pandemic, where there is uncertainty both nationally and internationally, measures need to be adopted even more urgently.
Chains need more security and obligations to provide more guarantees for retailers. With the law respecting the entire purchasing process, and following the strictest standards.
However, the measures help with protection, as this money left the consumer to pay the invoice, so that it reaches the establishment and seller. Even if there is a failure in the system or problems with some of those involved.