Payment News

Fintech Interchange Fees Capped in Brazil

The Banco Central do Brasil has said it will limit interchange fees for pre-paid cards offered by FinTechs in free digital accounts to 0.7% from April 2023. Debit card interchange fees will be capped at 0.5% per transaction.

It issued a consultation paper in 2021 which had a limit of 0.5% on both debit and pre-paid cards. Currently fintech fees are uncapped.

G+D Raises Funds for Investment

Giesecke+Devrient (G+D) is raising money using a promissory note loan to be used for general corporate financing and to support operational growth in the areas of payments, connectivity, identities and digital security. It would appear that G+D is investing for the future.

An initial term sheet for €75 million was oversubscribed several times so G+D has increased the volume to €130 million. It has been placed with maturities of between three and five years.