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Brazilian Federation of Banks adopts different approach to boleto bancário

Wednesday 19 October 2016 | 11:24 AM CET

The Brazilian Federation of Banks (FEBRABAN) has announced a different approach to boleto bancário that will come into full force by January 1, 2017.

All issued boleto bancários have to be registered with a bank and the use of unregistered boletos will be discontinued. The aim of FEBRABAN and the Central Bank of Brazil is to increase the level of transparency in the banking system.

PagBrasil, as well as other ecommerce business or PSP, still issues its Boleto Express or Boleto Flash as unregistered boletos. A registered boleto, contrary to its unregistered version, needs to be enrolled with the issuing bank.

For registered boletos, banks usually charge for the issuance, for the payment and for a possible change or cancelation. There are several charges for the registered boleto, while for unregistered boletos there is only one charge for the payment. However, PagBrasil considers that it will be able to maintain the current fee structure for its merchants, charging only for the payment of a registered boleto.

In addition to the above, the customer's full name, fiscal number (CPF/CNPJ) and address are required for the registration of a boleto. As PagBrasil already receives the required data from its merchants, as part of its standard implementation requirements, there will be no need for its merchants to change the technical implementation.

Registered boletos are automatically broadcasted via the Brazilian banking system to the buyer’s bank account. The buyer logs into his online account, selects the boleto and confirms its payment. The need to type, scan or copy the barcode or number will be eliminated for customers who prefer paying via Internet Banking.

In addition, there is an advantage for merchants who gain the possibility to automatically file an official objection for an unpaid boleto. In most cases that helps to collect the amount due, because such an official objection has an important impact on the credit rating of the buyer.