Overview
- Resolução BCB nº 522 takes immediate effect, making Visa, Mastercard, Elo and other schemes the final guarantors of paying receiving users if other safeguards fail.
- Card brands have 180 days to file authorization requests and implement regulatory and operational adjustments, with current regulations remaining valid until approvals.
- The rule caps participants’ financial exposure to chargebacks at 180 days after authorization, after which liability can shift to the card brand if the arrangement permits.
- Schemes are barred from delegating sub-acquirer risk management to acquirers, from requiring guarantees between participants, and from allowing issuer discrimination, reinforcing honor all cards.
- The framework mandates fuller transparency, centralized monitoring with sub-acquirer participation in centralized settlement, and stronger controls for fraud prevention and AML/CFT compliance.