BCB Resolution No. 103 — Amends the Regulation annexed to BCB Resolution No. 1 of August 12, 2020, governing the Pix payment arrangement

BCB RESOLUTION NO. 103, OF JUNE 8, 2021

Amends the Regulation annexed to BCB Resolution No. 1, of August 12, 2020, which governs the functioning of the Pix payment arrangement.

The Collegiate Board of the Central Bank of Brazil, in a session held on June 2, 2021, based on art. 10, item IV, of Law No. 4.595, of December 31, 1964, art. 10 of Law No. 10.214, of March 27, 2001, arts. 6, 7, 9, 10, 14 and 15 of Law No. 12.865, of October 9, 2013, and having in view the provisions of Resolution No. 4.282, of November 4, 2013, Communication No. 32.927, of December 21, 2018, and Communication No. 34.085, of August 28, 2019,

R E S O L V E:

Art. 1 The Regulation annexed to BCB Resolution No. 1, of August 12, 2020, shall enter into force with the following changes:

“CHAPTER XI

OF THE REFUND OF TRANSACTIONS

Section I

Of refunds” (NR)

“Art. 40. ..........................................................................................................

§ 1 Except as provided in Section II of this Chapter, the refund of a Pix must be initiated by the receiving user, on their own account or at the request of the paying user.

§ 2 The making of multiple partial refunds of the same transaction is permitted, until the total value to be refunded is reached.” (NR)

“Art. 41. The receiving user, upon initiating the refund, must inform their payment service provider of the refund value.

................................................................................................................” (NR)

“Art. 41-A. All refunds carried out within the scope of Pix, including those referred to in Section II of this Chapter:

I - presuppose the existence of sufficient funds in the receiving user’s transaction account, in accordance with the contract maintained with the correspondent participant payment service provider; and

II - must be initiated within 90 (ninety) days counted from the date on which the original transaction was carried out.” (NR)

“Section II

Of the Special Refund Mechanism” (NR)

“Art. 41-B. The Special Refund Mechanism is the set of rules and operational procedures designed to enable the refund of a Pix in cases where there is a well-founded suspicion of the use of the arrangement for the practice of fraud and in those cases where an operational failure is verified in the information technology system of any of the participants involved in the transaction.

Sole paragraph. The following are not included in the refund hypotheses referred to in the caput:

I - controversies related to aspects of the underlying legal business of the payment transaction; and

II - transactions with a well-founded suspicion of fraud in which the funds were destined to the transaction account of a third party in good faith.” (NR)

“Art. 41-C. Refunds within the scope of the Special Refund Mechanism shall be initiated by the payment service provider participant of the receiving user:

I - on their own initiative, if the allegedly fraudulent conduct or operational failure occurred within the scope of their systems; or

II - at the request of the payment service provider participant of the paying user, through the DICT, if the allegedly fraudulent conduct or operational failure occurred within the scope of that participant’s systems.

§ 1 Refunds carried out within the scope of the Special Refund Mechanism depend on prior and express authorization from the receiving user, which must include the possibility of blocking the funds held in the transaction account, in one or more installments, until the total value of the transaction is reached.

§ 2 The authorization referred to in § 1 may be granted in the contract signed with the correspondent payment service provider, through a highlighted clause in the body of the contractual instrument, or by another valid legal instrument.” (NR)

“Art. 41-D. The refunds referred to in item II of art. 41-C, when resulting from a well-founded suspicion of fraud:

I - shall be conditioned on the opening and conclusion, with the acceptance of the payment service provider participant of the receiving user, of the infringement notification procedure regarding the transaction to be refunded, as provided for in Chapter XIII, Section III, Subsection IX; and

II - shall imply the immediate blocking, in the receiving user’s transaction account, of the values whose refund is requested, or, if lower, the value corresponding to the balance available therein.

Sole paragraph. Multiple partial blocks in the receiving user’s transaction account are permitted, until the total value of the transaction object of the refund request is reached.” (NR)

“Art. 41-E. The procedure for carrying out the refunds referred to in item II of art. 41-C, including the maximum time limits for maintaining the blocking of funds in the receiving user’s transaction account and for the realization of the refund, is detailed in the DICT Operational Manual.” (NR)

“Art. 41-F. The receiving user of the funds whose refund is requested shall be promptly notified about the effectiveness:

I - of the blocking of funds in their transaction account in accordance with item II of art. 41-D; and

II - of the realization of a refund carried out under the aegis of the Special Refund Mechanism.” (NR)

“Art. 41-G. The receiving user may request, within 30 (thirty) days counted from the notification referred to in item II of art. 41-F, the cancellation of the refund.

Sole paragraph. The cancellation of the refund shall observe, insofar as applicable, the procedure for carrying out the refunds referred to in item II of art. 41-C.” (NR)

“Art. 41-H. Refunds carried out within the scope of the Special Refund Mechanism are the responsibility of the participant who requested them, observed the provisions of art. 41-I.” (NR)

“Art. 41-I. Observed the provisions of item I of art. 41-A, the payment service provider participant of the receiving user shall be liable for any damages caused by the non-refund of funds when:

I - they reject, without just cause, the infringement notification referred to in art. 78, when linked to a refund request; or

II - they refuse the refund due to the absence of the authorization referred to in § 2 of art. 41-C.” (NR)

“Art. 54.
..........................................................................................................

.........................................................................................................................

VIII - infringement notification: allows the notification of infringement, due to suspected fraud in the transaction;

IX - verification of registered Pix keys: allows verification of whether a specific Pix key is registered in the DICT; and

X - refund request: allows the request for refund of a Pix transaction.” (NR)

“CHAPTER XIII

OF THE DICT

..........................................................................................................

Section III

Of the functionalities

..........................................................................................................

Subsection IX

Of the infringement notification” (NR)

“Art. 78-F. The infringement notification may be requested by the payment service provider participant of the paying user or by the payment service provider participant of the receiving user whenever there is a well-founded suspicion of the use of the arrangement for the practice of fraud.” (NR)

“Art. 78-G. The participant who receives the infringement notification shall analyze it and decide to accept or reject it.

Sole paragraph. The DICT shall store information related to infringement notifications only in cases where the infringement notification is accepted.” (NR)

“Art. 78-H. The infringement notification may be associated with a refund request, as provided for in Subsection X of Section III of this Chapter.

Sole paragraph. The association between the infringement notification and the refund request must be identified by the payment service provider participant of the paying user at the time of requesting the infringement notification.” (NR)

“Subsection X

Of the refund request” (NR)

“Art. 78-I. The refund request may be carried out by the payment service provider participant of the paying user, on their own initiative or at the user’s request, in cases where there is a well-founded suspicion of the use of the arrangement for the practice of fraud and in those cases where an operational failure is verified in the information technology system of any of the participants involved in the transaction, in accordance with Section II of Chapter XI.” (NR)

“Art. 78-J. Only one refund request may be opened for each Pix transaction.” (NR)

“Art. 79. Registration, exclusion, alteration, portability, claim of possession, consultation, infringement notification, verification of registered Pix keys, and refund request are available 24 (twenty-four) hours a day, every day of the year.” (NR)

“Art. 80. Registration, exclusion, portability, and claim of possession must be available to end users from 8 a.m. to 8 p.m., Brasília time, every day of the year.” (NR)

Art. 2 The following provisions of the Regulation annexed to Resolution BCB No. 1, of 2020, are revoked:

I - art. 42; and

II - item II of art. 59.

Art. 3 This Resolution enters into force on November 1, 2021, producing effects from November 16, 2021.

João Manoel
Pinho de Mello

Director of
Organization of the Financial System and Resolution