Circular Letter No. 3872 — Clarifies Basic Criteria for Calculating Values Established by Arts. 2 and 4 of Circular No. 3,682 of 2013 and for Calculating the Total Value Stipulated by § 5 of Art. 26 of the Regulation Annexed to Circular No. 3,682 of 2013 in the Context of Payment Arrangements

The Head of the Department of Banking Operations and Payment Systems (Deban), using the attribution granted to him by art. 23, item I, letter “a”, of the Internal Regulations of the Central Bank, annexed to Ordinance No. 84,287, of February 27, 2015, and taking into account the provisions of Circular Letter No. 3,682, of November 4, 2013,

R E S O L V E :

Art. 1º Basic criteria to be considered for the calculation of the volumes stipulated by arts. 2 and 4 of Circular Letter No. 3,682, of November 4, 2013, and for the calculation of the total value stipulated by art. 26, § 5 of the Regulation annexed to Circular Letter No. 3,682, of 2013, in the context of payment arrangements, are defined.

Art. 2º For the calculation of the volumes referred to in art. 2 and the statistics referred to in art. 4, both of Circular Letter No. 3,682, of 2013, the payment arrangement initiator must consider exclusively payment transactions that are authorized by a participant that provides a payment service regulated by that payment arrangement, as established in the rules of the respective arrangement.

§ 1º The participant mentioned in the caput refers to the institution that provides the payment service directly to the end payer user within the scope of the payment arrangement.

§ 2º Payment arrangement initiators must not consider, for the calculation of the volumes referenced in the caput, payment transactions regulated by payment arrangements in which the payment instrument is offered within the scope of a program intended to grant benefits to natural persons based on employment relationships, service provision, or similar, established by law or by an act of the Federal, State, or Municipal Executive Power (art. 2, item III, of Circular Letter No. 3,682, of 2013).

Art. 3° Sub-acquirers referenced in § 5 of art. 26 of the Regulation annexed to Circular Letter No. 3,682, of 2013, must calculate the value referred to in said paragraph considering the sum of the values corresponding to payment transactions accumulated in the last twelve months, also taking into account all payment arrangements subject to centralized settlement of which they participate.

Sole Paragraph. The company that acts both as a sub-acquirer and as a commercial establishment must not, in the calculation referenced in the caput, consider payment transactions in which it figures only as a commercial establishment, that is, as the end recipient of the resources.

Art. 4° Circular Letter No. 3,705, of April 29, 2015, is revoked.

Art. 5º This Circular Letter enters into force on the date of its publication.

Flávio Túlio Vilela