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New Central Bank Rule Requires Card Brands to Cover Failures in Payment System. See What Changes.
The Central Bank (BC) announced on Monday (11/10/2025) an important change in the Brazilian financial system. From now on, card brands such as Visa, Mastercard, and Elo will be directly responsible for ensuring the payment of transactions, even when there are failures in intermediary institutions.
The measure, which has already come into effect, aims to reinforce the security and transparency of the Brazilian Payment System (SPB).
The new guidelines are outlined in the BCB Resolution No. 522, published after a public consultation in 2024. According to the BC, the rules “ensure greater clarity regarding the responsibilities of each participant and strengthen the protection of users receiving payments.”
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The card brands will have 180 days to adjust their internal regulations and request formal authorization for adaptation.
Brands Like Visa, Mastercard, and Elo Take Full Responsibility
Under the new rule, credit and debit card brands will be required to ensure the transfer of funds to merchants, even if there are failures in issuing institutions or acquirers — responsible for payment machines.
In practice, this means that, if a fintech or a bank fails to settle the transaction, the brand must use its own resources to honor the payment. Thus, the consumer and the merchant are not left unprotected.
The BC emphasized that the brands, being the issuers of payment arrangements, cannot transfer the responsibility for risk management to other companies in the chain.
It is also prohibited to require guarantees among system participants, which should prevent disputes and strengthen trust in the sector.
“Honor All Cards” and Rules for Acquirers
Another provision reinforces the principle known as “honor all cards”, which obliges acquirers and sub-acquirers to accept all cards of the same brand, regardless of the issuer.
This measure prevents discrimination among banks or fintechs and provides consumers with more freedom when choosing a payment method.
Furthermore, brands will not be able to allow acquirers to delegate the responsibility of risk management to sub-acquirers, reinforcing centralized control and system security.
Changes in Chargeback and Responsibility Periods
The new framework also brings adjustments to the chargeback process, which occurs when the cardholder disputes a purchase made with a card.
Now, the financial responsibility of participants will be limited to 180 days after the transaction authorization.
After this period, if the arrangement’s rules allow, the card brand — whether Visa, Mastercard, or Elo — will completely assume the costs and any losses.
The Central Bank noted that, even having the freedom to define their own control mechanisms, the brands remain fully responsible for the final settlement of all operations.
Transparency and Control in Payment Flows
Another central point of the resolution is the increase in transparency in risk management. The new requirements obligate all institutions — brands, banks, acquirers, and sub-acquirers — to clearly outline their roles and responsibilities in case of failures.
The BC also determined that sub-acquirers will fully participate in the centralized settlement and compensation systems, which should reduce vulnerabilities and prevent operational interruptions.
Measures to Combat Frauds and Money Laundering
Among the changes, the Central Bank included specific rules for combating frauds, scams, and money laundering, as well as prevention measures against terrorism financing and proliferation of weapons of mass destruction.
These determinations align payment arrangements with the same security standards required of the National Financial System (SFN), strengthening control over suspicious transactions and ensuring greater protection for consumers and businesses.
Adaptation Deadlines and Market Impact
Although the new rules are already in effect, institutions have 180 days to submit authorization requests and implement the required technical and operational changes.
During this period, current regulations remain valid.
“The set of measures brings greater robustness to the regulatory framework of the sector and strengthens consumer and business trust in electronic payment operations,” the Central Bank highlighted in an official statement.
Thus, the agency expands the responsibility of card brands and reinforces the role of electronic payment as an essential part of the Brazilian digital economy.
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