proposal

According to Bloomberg, a proposal, put forward by Brazil’s government, to increase competition through regulation of the credit and debit-card market by October will be presented to President Luiz Inacio Lula da Silva.

O Estado de S. Paulo said that new rules may encourage reductions in rates charged by card administrators and the length of time permitted for payment to stores. Besides, the government may limit restrictions on new companies entering the market controlled by two main rivals, the paper said, without naming the companies.