Credit card: supermarkets want quick refunds – 11/07/2023 – Panel SA

Supermarkets and restaurants try to use the discussion of interest-free installments at the Central Bank to try to reduce the period for receiving their sales via credit cards. Today, the money enters the storekeepers’ cash register, on average, in one month.

In a letter sent to the president of the Central Bank, Roberto Campos Neto, ANR (National Association of Restaurants) and Abras (Brazilian Association of Supermarkets) ask that the brands make payments in less time.

Both also state that credit cards impose, without transparency, high transaction costs, suggesting fees such as interchange and acquirer fees.

According to representatives of these sectors, supermarkets and restaurant owners end up “subsidizing financial losses and part of the credit and default risks of issuing banks”.

Still in the letter, the entities say that retail does not participate in such a discussion, which drives disputes between supermarkets and card brand companies.

With Diego Felix It is Paulo Ricardo Martins

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