Bloomberg News

Brazil Seeks End of Credit Card Exclusivity Accords

October 17, 2012

(Corrects bank director’s title in first paragraph.)

Brazil central bank wants to end exclusivity agreements credit card brands have with card-payment processor companies in a bid to foster competition in this market, Aldo Mendes, the monetary policy director at the bank said.

Mendes, speaking at an event in Sao Paulo, said there is room to lower credit card transaction costs for retailers and consumers.

To contact the reporter on this story: Felipe Frisch in Sao Paulo at ffrisch1@bloomberg.net

To contact the editor responsible for this story: Andre Soliani at asoliani@bloomberg.net


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