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last mo.

Lula Signs Decree Overhauling Meal Vouchers With Fee Caps, Faster Payouts and Interoperability

The measure targets lower intermediation costs in a concentrated R$150 billion voucher market through a phased rollout.

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Overview

  • Operators must cap the merchant discount rate at 3.6% and the interchange fee at 2%, with 90 days to comply.
  • Payouts to restaurants and retailers are cut to a maximum of 15 days, aiming to improve cash flow for establishments.
  • Large closed arrangements serving over 500,000 workers must open in up to 180 days, with full card acceptance across any terminal required in up to 360 days.
  • The decree bans exclusivity, rebates, cashback and other indirect financial advantages, with oversight assigned to the Ministry of Labor and Employment.
  • Portability for workers was excluded from the text, while traditional operators criticize the overhaul and evaluate legal action as supermarkets and new entrants welcome greater competition.