Ten years after Law 12.865 came into force, the number of payment institutions (PIs) authorised to operate in Brazil has continued to grow. According to data from the Central Bank (BC), there are currently more than 110 players on this list, which has gained new names in recent weeks, according to orders published in the Federal Official Gazette.
This Tuesday (31), for example, the financial services infrastructure fintech Zoop received the green light from the regulator for its IP. The authorisation is to operate as an electronic money issuer, i.e. one that manages prepaid payment accounts. The share capital is R$89.3 million and the controlling shareholder is the South African group Naspers.
Also yesterday, the Central Bank authorised Liquido, a payment infrastructure company for e-commerces and marketplaces, to operate as an IP, also in the form of an electronic currency issuer. Controlled by the duo of founders Mengke Li and Shanxiang Qi, the institution has a share capital of R$2 million. The fintech company officially launched its solution on the Brazilian market around six months ago, as Finsiders reported at the time.
Last Wednesday (25), B3 received approval from the regulator to operate as an IP in the payment transaction initiator (ITP) modality. Created as part of Pix's Open Finance, the licence allows, as its name implies, the initiation of a transaction with the prior consent and authorisation of the end user. The Brazilian exchange's IP starts with a share capital of R$1.2 million.
The Central Bank also recently approved the creation of the techfin Aarin payment institutions and the Flash flexible benefits start-up. The former, a Bradesco company, obtained authorisation for an IP issuing electronic money, with a share capital of R$32 million. The latter, in turn, will operate as an issuer of electronic money and post-paid payment instruments (e.g. credit cards). Its share capital is R$672.8 million.
At an event at the end of September, Carolina Pancotto Bohrer, head of the Central Bank's Financial System Organisation department, said that there are more than 90 IP applications on the waiting list. Most of them seek to act as electronic currency issuers.
Ten years after Law 12.865 came into force, the number of payment institutions (PIs) authorised to operate in Brazil has continued to grow. According to data from the Central Bank (BC), there are currently more than 110 players on this list, which has gained new names in recent weeks, according to orders published in the Federal Official Gazette.
This Tuesday (31), for example, the financial services infrastructure fintech Zoop received the green light from the regulator for its IP. The authorisation is to operate as an electronic money issuer, i.e. one that manages prepaid payment accounts. The share capital is R$89.3 million and the controlling shareholder is the South African group Naspers.
Also yesterday, the Central Bank authorised Liquido, a payment infrastructure company for e-commerces and marketplaces, to operate as an IP, also in the form of an electronic currency issuer. Controlled by the duo of founders Mengke Li and Shanxiang Qi, the institution has a share capital of R$2 million. The fintech company officially launched its solution on the Brazilian market around six months ago, as Finsiders reported at the time.
Last Wednesday (25), B3 received approval from the regulator to operate as an IP in the payment transaction initiator (ITP) modality. Created as part of Pix's Open Finance, the licence allows, as its name implies, the initiation of a transaction with the prior consent and authorisation of the end user. The Brazilian exchange's IP starts with a share capital of R$1.2 million.
The Central Bank also recently approved the creation of the techfin Aarin payment institutions and the Flash flexible benefits start-up. The former, a Bradesco company, obtained authorisation for an IP issuing electronic money, with a share capital of R$32 million. The latter, in turn, will operate as an issuer of electronic money and post-paid payment instruments (e.g. credit cards). Its share capital is R$672.8 million.
At an event at the end of September, Carolina Pancotto Bohrer, head of the Central Bank's Financial System Organisation department, said that there are more than 90 IP applications on the waiting list. Most of them seek to act as electronic currency issuers.