Brazil’s senate passes m-payments bill to President Rouseff for formal approval

13 Sep 2013

The Brazilian senate has approved the country’s proposed m-payments bill to regulate mobile payments in the country and passed the documentation to President Dilma Rouseff for formal consent. BNAmericas reports that as the project had already been approved by the country’s lower house, Ms Rousseff is now expected to adopt the bill ‘without vetoes’ in the coming weeks. It is understood that the m-payments bill has cleared both legislative chambers in the form of a Medida Provisoria (MP or provisional decree), and includes many different topics – such as benefits for the Brazilian sugar cane industry. Under the decree, Brazil’s central bank will be directed to work with the national monetary council CMN, the ministry of communications and the telecoms regulator Anatel to ‘stimulate financial inclusion through the participation of the telecommunications sector in the offer of payment services’. The central bank has 180 days to draw up rules for the m-payment market under the bill.

Brazil