RIO DE JANEIRO, BRAZIL - The Central Bank has approved the creation of a special refund mechanism for Pix, which will be launched on November 16, when the Brazilian instant payment completes a year.
The creation of the mechanism will standardize the rules and procedures to enable the refund of amounts in cases where there is a founded suspicion of fraud or in situations where there is an operational error in systems of institutions involved in the transaction.
The refund can be initiated by the recipient user, either on his/her own initiative or at the paying user's request.
Since . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here