- There are at least three Personal Loan Companies (SEP)–which make loans–and nine Direct Credit Companies (SCD)–which carry out credit operations between people–under authorization by the Brazilian Central Bank;
- In addition to another 20 to 30 in development.
The number of retailers and non-financial companies exploring the world of fintechs is such that law firms and the Central Bank are receiving a series of requests for advice in this matter.
According to a story by Laura Ignacio of the Brazilian newspaper Valor Econômico, they are telecommunications, cosmetics, logistics and even education companies investing in creating new means of payment or granting credit to their own customers and employees.
With that, lawyers have been working on the legal analysis of projects and the interpretation of the rules of the Brazilian Central Bank (BC) on them.
The growing interest has led representatives of the agency to give lectures to entrepreneurs in law firms, according to Valor. “We have a clear goal of increasingly promoting innovation and creating a healthier and more competitive environment that creates a better customer experience for the financial institution,” said João Manoel Pinho de Melo, director of financial system organization and resolutions at BC, to Valor.
There are at least three Personal Loan Companies (SEP)–which make loans–and nine Direct Credit Companies (SCD)–which carry out credit operations between people–under authorization by the agency, in addition to another 20 to 30 in development.
At the same time, law firms are exploring a new emerging market, which, according to Valor, opened in 2013 under Law 12,865, which stripped banks of the payment market monopoly.