The Central Bank has been working since 2018 on creating a faster and cheaper transfer system than TED and DOC, for example. Among the improvements, is the instant payment via NFC and MST, which should be released in the second phase of the project, in 2021.
The information was published by the Mobile Timeafter the meeting of the Central Bank’s Instant Payments Forum last week. Until then, payments by approximation were only foreseen for the fourth phase of implementation of the system, which now has its deadline set for 2023.
The planning also received changes that should benefit several fintechs. This is because, in the first phase of implementation, the system will be available to direct and indirect participants, that is, those who are connected to the Central Bank system on their own or through an intermediary.
In 2020, the system should release instant payment via QR Code. For 2021, in addition to the payment by approximation, it will now allow transfers to be made from a QR Code generated by the payer himself.
According to the Central Bank, the new infrastructure will be available 24 hours a day, seven days a week and every day of the year. With it, establishments will only need a code that will be read by customers on their smartphones.
Nubank also prepares instant payments
While the Central Bank’s payment system is being developed, companies are moving to bring the solution to their customers. This is the case of Nubank, which claims to be working with the institution to offer information that helps to define regulations.
According to Nubank CEO David Vélez, the company wants to offer instant payments to its 15 million customers. “There is a lot of technology, security, tariffs. On the other hand, we have a product strategy to develop our instant payments internally ”, he stated, at the Brazil 2019 Investment Forum.
With information: Exam.