Senacon revokes precautionary measure against payment companies.
Febraban accused the "card machine" companies of charging interest in a disguised manner under the guise of "interest-free installments."
247 - The National Consumer Secretariat (Senacon), linked to the Ministry of Justice and Public Security, announced this Friday (19) the revocation of the precautionary measure against the payment companies PagSeguro, Mercado Pago, Stone and PicPay. The action was taken after analyzing clarifications provided by the companies regarding the practices in the payment machines.
The precautionary measure had been issued in response to a complaint from the Brazilian Federation of Banks (Febraban), which accused the companies of charging interest in a disguised manner under the guise of 'interest-free installments'. KNOW MORE: Senacon demands explanations from payment companies regarding allegations of abusive practices.
The companies, however, denied the accusations. Stone stated that it developed its solutions in accordance with Law No. 13.455/17, which allows retailers to differentiate prices according to the payment method and the term of receipt. The company emphasized that its commercial relationship is exclusively with retailers, without charging interest to end consumers.
In turn, PagSeguro specifically contested the allegations related to the 'Buyer Installment' payment method. Mercado Pago argued that the payment methods in question are widely used in the market and supported by current legislation. The company argued that the precautionary suspension of its tools would jeopardize the viability of small businesses, negatively impacting consumers. PicPay highlighted its commitment to consumer protection obligations and suggested competitive motivations behind Febraban's initiatives.
After considering the clarifications provided by the companies, Senacon decided to revoke the precautionary measure. The Secretariat observed that the clarifications presented by the institutions demonstrated compliance with legal regulations, making the continuation of the measure unnecessary. Senacon emphasized the need for the sector to be assessed under regulations governing the national financial system and advocated that payment processing companies strengthen information and transparency policies with merchants and consumers.