Central Bank Resolution No. 135 of September 2, 2021: Amendments to the Regulation of Resolution BCB No. 1 to Regulate Pix Saque and Pix Troco

RESOLUTION BCB NO. 135, OF
SEPTEMBER 2, 2021

Amends provisions of the Regulation annexed to Resolution BCB No. 1, of August 12, 2020, to regulate Pix Saque and Pix Troco.

The Collegiate Board of the
Central Bank of Brazil, in a session held on August 24, 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, 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 S:

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

“Art. 3. ............................................................................................................

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XXIV - payment transaction initiation service: service that enables the initiation of the instruction of a payment transaction, ordered by the end user, regarding a deposit or pre-paid payment account, commanded by an institution that does not hold the account to the institution that holds it;

XXV - withdrawal service:
service for making cash resources available to the paying user within the scope of Pix Saque or Pix Troco products;

XXVI - withdrawal service provider: Pix participant that:

a) classifies as a transactional account provider;

b) is authorized to operate by the Central Bank of Brazil; and

c) on an optional basis, comes to provide withdrawal service, directly or through a withdrawal agent, by establishing a contractual relationship for this purpose;

XXVII - withdrawal agent:
a commercial establishment of any nature or other type of legal entity that has as its main or secondary activity the provision of auxiliary services to financial services or related services that comes to establish a contractual relationship with withdrawal service provider to provide withdrawal service in the name of this participant.” (NEW)

“Art. 11-A.
.......................................................................................................

I - immediate payments, which are those related to business models in which the payment must be made at the time of issuance of the collection, such as physical point of sale and e-commerce;

II - payments with maturity, which are those related to business models in which the payment can be made on a future date, including the possibility of handling interest, fines, other additions, discounts and other deductions; and

III - payments related to the provision of withdrawal service, which are those related to the receipt of Pix transactions with the purpose of withdrawal or change by the withdrawal agent to enable the making of cash resources available to the paying user within the scope of Pix Saque and Pix Troco products.

§ 1. The functionality of Pix Cobrança shall be provided for in the Manual of Standards for Initiation of Pix.

§ 2. For the purposes of item III, the withdrawal agent corresponds to the receiving user referred to in the main text.” (NEW)

“CHAPTER V

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Section II

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Subsection III

Of Pix Saque and Pix Troco” (NEW)

“Art. 11-F. Pix Saque consists of the transaction in which a paying user, with a transactional account in any Pix participant, receives cash resources from a withdrawal service provider or a withdrawal agent and, in exchange, performs a Pix with the purpose of withdrawal from their transactional account to the transactional account of this participant or the agent of withdrawal, in an amount corresponding to the cash resources made available to him.” (NEW)

“Art. 11-G. Pix Troco consists of the transaction in which a paying user, with a transactional account in any Pix participant, upon making a purchase from a withdrawal agent, receives cash resources in an amount corresponding to the difference between the value of the Pix with the purpose of change performed from their transactional account to the transactional account of the agent of withdrawal and the value of the purchase.” (NEW)

“Art. 11-H. Both for the purpose of confirmation by the paying user and for the purpose of proof of the transaction, the information related to the Pix with the purpose of withdrawal or change must specify the value of the cash resources made available.

Sole paragraph. In the case of the Pix with the purpose of change, the value of the purchase and the total value of the transaction must also be specified.” (NEW)

“Art. 11-I.
The initiation of the Pix with the purpose of withdrawal or change must occur by means of the mechanisms provided for in items II, III or IV of Art. 12.

§ 1. For the purpose of initiation referred to in the main text, Pix participants must observe the provisions of Arts. 6 and 7.

§ 2. Received by the withdrawal service provider or the withdrawal agent the notification that their transactional account was credited, the cash resources related to the withdrawal service shall be made immediately available to the paying user or as soon as demanded by him, according to the adopted business model.” (NEW)

“Art. 11-J.
The general rules and procedures of Pix apply to the Pix with the purpose of withdrawal or change, including with respect to the duties and rights of participants, unless expressly provided otherwise in this Subsection.” (NEW)

“Art. 11-K. The withdrawal service provider must publish information related to the withdrawal service provided directly by him, in the format and content indicated by the Central Bank of Brazil in a specific document.” (NEW)

“Art. 11-L. The withdrawal service provider that establishes a contractual relationship with one or more agents of withdrawal shall:

I - evaluate the need to establish limits transactional to the withdrawal agents, according to the characteristics and profile of each agent, location, hours and other security criteria, observing the value limits defined by the Central Bank of Brazil in a specific document;

II - provide information to the Central Bank of Brazil regarding the withdrawal agents for the purpose of monitoring and dissemination of information related to the provision of the service; and

III - publish, in the format indicated by the Central Bank of Brazil, information on the withdrawal agents with whom it has a contractual relationship.

§ 1. The contract referred to in the main text must provide, at a minimum, the following aspects:

I - the need for observance, by the withdrawal agent, of the rules for the provision of the withdrawal service within the scope of Pix Saque or Pix Troco products and the rules for use of the Pix brand, as provided in this Regulation;

II

• the possibility for the withdrawal agent to have
  flexibility to define, according to its business model:

a) transactional limits, respecting the limits established by the withdrawal service provider, if any, and by the Central Bank of Brazil;

b) hours and conditions of service availability;

c) forms of making cash resources available, for example, allowing only amounts that are multiples of certain values;

d) the quantity and location of service points that will make the service available; and

e) the product to be offered (Pix Saque, Pix Troco or both);

III

• the prohibition of refusal to provide the service based on the participant transactional account provider of the paying user;

IV

• the prohibition of charging fees from paying users by the withdrawal agent;

V - the requirement for the withdrawal agent to provide information to the withdrawal service provider, for the purpose of monitoring its performance and dissemination of information related to the provision of the service;

VI - the requirement for disclosure, in clear, adequate and accessible language, in the physical premises, websites on the internet or applications of the withdrawal agent, regarding the offer of Pix Saque or Pix Troco;

VII - the possibility of suspension or termination of the contract by the withdrawal service provider in case of non-compliance by the withdrawal agent with the rules or requirements established for the provision of the service;

VIII - the possibility of unilateral rescission of the contract by communication to the other party with a minimum advance notice of 30 (thirty) days; and

IX - the conditions and operational procedures for the payment of remuneration due to the withdrawal agent as provided in § 2 of Art. 96-A, observing the rules established by the Central Bank of Brazil in a specific document.

§ 2. It is prohibited for the withdrawal service provider to establish contractual provision intended to penalize the withdrawal agent due to unavailability of cash resources for the offer of the withdrawal service in cases where the transaction corresponding had not been initiated.

§ 3. The responsibility for the authenticity of banknotes to be made available for the provision of the withdrawal service lies with the withdrawal service provider, without prejudice to the provisions of §4.

§ 4. The contract referred to in the main text may provide that the withdrawal agent will bear the economic burdens of the responsibility provided for in § 3, assuming before the withdrawal service provider the obligation to reimburse the losses suffered by it or to prevent such losses from materializing.” (NEW)

“Art. 11-M. The
Pix participants that are transactional account providers of the paying users must establish value limits per transaction and daily value limits for the Pix with the purpose of withdrawal and change, observing the risk profile of the paying user, as well as allowing customization of this limit.

Sole paragraph.
For the definition of limits referred to in the main text, the participant must observe the value limits defined by the Central Bank of Brazil in a specific document.” (NEW)

“Art. 11-N.
The operational aspects for the implementation of Pix Saque and Pix Troco, including regarding value limits and deadlines to be observed by participants, will be contained in a specific document published by the Central Bank of Brazil.” (NEW)

“Art. 11-O. The services within the scope of Pix Saque and Pix Troco may be offered from November 29, 2021.” (NEW)

“Art. 15-A. .......................................................................................................

§ 1. The functionalities contemplated by the Pix API and its detailing are provided for in the Manual of Standards for Initiation of Pix.

§ 2. At the time of offering the Pix API, the
Pix participants must observe the set of functionalities of each product or service they wish to offer, with at a minimum, those related to items I and III of Art. 11-A must be included.” (NEW)

“Art. 20-A. The provisions of Arts. 19 and 20 apply to the contractual relationship between the participant withdrawal service provider and the withdrawal agent, with respect to the rights and obligations of the parties for the use of the Pix brand.” (NEW)

“Art. 40-A. When the transaction subject to the return, in the terms of Art. 40, is a Pix with the purpose of withdrawal or change, the return must be initiated by the withdrawal service provider, when the service is provided directly by him, or by the withdrawal agent, and must be admitted in the following hypotheses:

I - error in the transaction caused by the withdrawal service provider or by the withdrawal agent; or

II - disagreement between the parties, prior to the delivery of cash resources.

§ 1. In the hypotheses referred to in the main text, the paying user must manifest immediately requesting the return to the withdrawal service provider, if the service was provided directly by him, or to the withdrawal agent, as the case may be.

§ 2. When the service is provided in electronic service channels, the withdrawal service provider or the withdrawal agent, as the case may be, must make available a mechanism that enables the immediate manifestation referred to in § 1 by the paying user in these channels.” (NEW)

“Art. 41. ..........................................................................................................

§ 1. The participant must debit the value informed in the transactional account of the receiving user, after its authorization, and remit the funds to the participant providing the payment service of the paying user, informing the reason for the return.

§ 2. When the transaction subject to the return is a Pix with the purpose of withdrawal or change, the withdrawal service provider or the withdrawal agent, as the case may be, must initiate it within 1 (one) hour, once it verifies that the return is due.

§ 3. Regarding Pix Troco, a specific transaction must be performed for the return of the cash values made available, when applicable, separate from the return of the purchase value.” (NEW)

“Art. 41-A. .......................................................................................................

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II - must be initiated within 90 (ninety) days counted from the date on which the original transaction was performed, except when it is a Pix with the purpose of withdrawal or change.” (NEW)

“Art. 87-E. It is considered that the transaction has the purpose of withdrawal or change when performed by the paying user, a natural person or a legal entity, within the scope of Pix Saque or Pix Troco products, by any of the initiation forms provided for in the regulation of these products.” (NEW)

“Art. 96. It is prohibited to charge fees or other forms of remuneration, directly or indirectly, between participants providing payment service of the receiving user and participants providing payment service of the paying user, except as provided in Art. 96-A of this Regulation.” (NEW)

“Art. 96-A. Interchange fee applies to each Pix with the purpose of withdrawal or change, due by the participant providing the transactional account of the paying user.

§ 1. In transactions where the withdrawal service is being provided directly by the withdrawal service provider, the fee referred to in the main text will be R$1.50 (one real and fifty cents), to be paid to the withdrawal service provider itself.

§ 2. In the event that the withdrawal service provider establishes a contractual relationship with one or more withdrawal agents for the provision of withdrawal service, the following shall be observed:

I - when the withdrawal agent is a commercial establishment, the interchange fee referred to in the main text of this article will be R$1.00 (one real), of which:

a) the commercial establishment must be remunerated with, at a minimum, R$0.25 (twenty-five cents of a real);

b) the Pix participant, in the capacity of transactional account provider of the withdrawal agent, must be remunerated with R$0.05 (five cents of a real); and

c) the Pix participant, in the capacity of withdrawal service provider, must be remunerated with the remaining value.

II - when the withdrawal agent is a legal entity that has as its main or secondary activity the provision of auxiliary services to financial services or related services, the interchange fee referred to in the main text of this article will be R$2.00 (two reals), to be paid to the withdrawal service provider, of which the portion of this value related to the remuneration of the withdrawal agent must be freely agreed upon with the withdrawal service provider.

§ 3. The interchange fee is not due in situations where the transactional account provider of the paying user, the transactional account provider of the withdrawal agent and the withdrawal service provider are the same institution, remaining unchanged the rule for remuneration of the withdrawal agent.

§ 4. The operational procedures for the collection and for the payment of the fees referred to in this article will be contained in a specific document published by the Central Bank of Brazil.

§ 5. Within the scope of the procedures referred to in § 4, the transactional account providers and the withdrawal service providers are subject to the payment of reimbursement of costs to the Central Bank of Brazil regarding the making available of a file for the collection of the fee referred to in this article.

§ 6. Regarding the provisions of § 5, billing, collection and payment of the amounts due occur within the scope of the reimbursement of costs of the Central Bank Information System (Sisbacen), in the form of its own regulation.” (NEW)

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

I - the sole paragraph of Art. 11-A;

II

• the sole paragraph of Art. 15-A; and

III

• the sole paragraph of Art. 41.

Art. 3. This Resolution enters into force on November 1, 2021.

João Manoel Pinho de Mello
Director of Organization of the Financial System and Resolution