STRATEGIC PARTNERS
March 30, 2018
Brazil has announced a cap on debit card fees paid by merchants to card issuers, cutting the revenue banks collect for transactions by as much as 40 percent.
According to an article in U.S. News and World Report, interchange fees will be limited to 0.8 percent as of Oct. 1. In recent years, the rate has risen from 0.79 percent to 0.82 percent, U.S. News said.
The government is reserving the option to trim interchange further still in an effort to assist Brazilian consumers, who are said to pay some of the world's highest interest rates.
Caps on credit card transaction fees are also on the table, the report said.
