Brazil's central bank caps prepaid card interchange fees; fintech stocks fall [Financial Post (Toronto, Ontario, Canada)]
PagSeguro Digital Ltd. Class A Common Shares (PAGS)
Last pagseguro digital ltd. class a common shares earnings: 2/27 05:11 pm
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Source: Financial Post
free digital accounts, in a setback for the booming sector in Latin America's largest economy. Global Affairs Canada admits some costs on nearly $100k in-flight catering tab for GG… Advertisement The central bank had put the issue out for public consultation last year, but its proposal suggested a maximum rate of 0.5% for both debit and prepaid cards, which would be even more damaging to fintechs. Banks' debit card interchange fees, which currently have to comply with a joint weighted average calculation of 0.5% and maximum value per transaction of 0.8%, will now be capped only by 0.5% per transaction. An interchange fee is a charge a merchant pays to the card-issuing bank every time a consumer swipes their card. The changes will take effect from April 2023, and will also standardize the settlement term for debit and prepaid card transactions. According to the central bank, the changes will “increase the efficiency of the payments ecosystem, encourage the use of cheaper
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PAGS
Earnings
- 11/17/23 - Beat
PAGS
Sec Filings
- 4/12/24 - Form 6-K
- 2/28/24 - Form 6-K
- 2/28/24 - Form 6-K
- PAGS's page on the SEC website