RESOLUTION

BCB No. 407, of 2 August 2024

Amends Resolution BCB No. 80, of 25 March 2021, which regulates the constitution and operation of payment institutions, establishes the parameters for submitting operating authorization requests by those institutions and provides for the provision of payment services by other institutions authorized to operate by the Central Bank of Brazil.

The Collegiate Board of the Central Bank of Brazil, in session held on 1 August 2024, based on the provisions of arts. 6º, §§ 1º and 4º, and 9º of Law No. 12,865, of 9 October 2013, and considering the provisions of Resolution No. 4,282, of 4 November 2013,

RESOLVES:

Art. 1º The Resolution BCB No. 80, of 25 March 2021, published in the Official Gazette of the Union on 29 March 2021, shall now apply with the following amendments:

CHAPTER II

SPECIAL MODALITIES AND ACTIVITIES OF PAYMENT INSTITUTIONS (NR)

Art. 4º

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Single paragraph.

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III – Open Finance. (NR)

Art. 4‑A The payment institution that provides a payment‑transaction initiation service may, as a special activity, within the scope of Open Finance, provide a payment‑transaction initiation service without redirection to other environments or electronic systems, including those of other institutions, observed the provisions of specific regulation.

Single paragraph. The institution mentioned in the caput must notify the Central Bank of Brazil, with ninety days in advance, its intention to commence execution, within the scope of Open Finance, of the payment‑transaction initiation service without redirection to other environments or electronic systems, including those of other institutions. (NR)

Art. 16

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§ 4º The other institutions authorized to operate by the Central Bank of Brazil that provide a payment‑transaction initiation service may execute the special activity under the terms of art. 4‑A. (NR)

CHAPTER VII

MINIMUM SHARE CAPITAL AND NET WORTH (NR)

Art. 17 The payment institution authorized to operate by the Central Bank of Brazil must permanently observe minimum limits of fully paid share capital and net worth of:

I – R$2,000,000.00 (two million reais), for each of the modalities provided for in art. 3, caput, items I to III;

II – R$1,000,000.00 (one million reais), for the modality provided for in art. 3, caput, item IV; and

III – R$2,000,000.00 (two million reais), to exercise the special activity referred to in art. 4‑A.

§ 1º The payment institutions that participate exclusively in a closed payment arrangement, providing services in the modalities provided for in art. 3, caput, items I and II, must permanently observe minimum limits of fully paid share capital and net worth of R$3,000,000.00 (three million reais).

§ 2º The start of execution of the special activity referred to in art. 4‑A is conditioned on prior compliance with the minimum limits of fully paid share capital and net worth required in item III of the caput.

§ 3º The requirements of the minimum net‑worth limits referred to in items I and II of the caput must be complied with from 1 January 2026.

§ 4º The provision of § 3 applies to payment institutions that have formalized a request for operating authorization at the Central Bank of Brazil up to 30 September 2024. (NR)

Art. 17 (Revoked by Joint Resolution No. 14, of 3/11/2025.)

Art. 20 The other institutions authorized to operate by the Central Bank of Brazil, in addition to the minimum limits of fully paid share capital and net worth required in the specific regulation, must comply with the requirements established in art. 17. (NR)

Art. 20 (Revoked by Joint Resolution No. 14, of 3/11/2025.)

Art. 22

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§ 6‑A The conditions established in § 6 do not apply to federal public securities that are the object of repurchase (repo) operations intended to meet the allocation required in § 1. (NR)

Art. 25‑A Until the issuance of a specific normative act on the subject by the Central Bank of Brazil, the regulation in force on the date of publication of this resolution that provides for preventive prudential measures intended to ensure the soundness, stability and regular operation of the National Financial System applies to payment institutions. (NR)

Art. 2º This Resolution enters into force on the date of its publication.

OTÁVIO RIBEIRO DAMASO
Regulation Director