Under communication A 6680, the BCRA established a maximum term for financial institutions to credit the amount of sales carried out in a single payment via credit and/or purchase cards to the accounts of shops. This maximum term was set at 10 business days from the date of the purchase made with a card. Before this regulation was issued, the only term considered applied to debit cards.
In addition, the BCRA ordered that financial institutions may not charge shops using this benefit any interest or commission in relation to the new settlement term. Institutions may not hinder or avoid, in any way, the use of this single payment consumption method through such cards.
The measure aims at reducing the cost borne currently by shops when using the Credit Card System, promoting greater acceptance of such cards by shops, and formalizing the economy.
