Regulatory Alerts2020-05-25 | Carta Circular 4056Circular Letter No. 4056 — Establishes Procedures for Adherence to the Instant Payment Arrangement (PIX) from Its Launch
The Central Bank of Brazil's Department of Competition and Financial Market Structure mandates that financial institutions complete mandatory registration and homologation stages to participate in the PIX instant payment system from its launch. The regulation details specific technical testing requirements for the Instant Payment System (SPI) and the Transactional Account Identifier Directory (DICT), alongside user interface verification processes for mobile applications. Institutions must submit all required documentation and pass these tests by October 16, 2020, or face exclusion from the system and potential supervisory actions.
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