Extended periods of high-inflation in Brazil have resulted in a sophisticated platform for payment methods and a vast network of banking correspondents all over the country. Social policies have encouraged increased access to telecommunications, with the number of mobile phones exceeding the nearly 200 million inhabitants. Governmental programs intend to combine such strengths to achieve massive financial inclusion and integrity, an effort that is expected to reach dozens of millions of new beneficiaries. In that endeavor, authorities wish to foster rapid popularization of mobile payments (m-payments) while keeping sound financial controls. Availability of current technological and legal platforms has allowed that a mature process develops in the selection of proper regulation. This Article discusses how Brazil’s background has determined the timing and design of a regulatory model, and points out a case of prudent approach by a developing country in the subject matter.
Gilberto M. de Almeida,
M-Payments in Brazil: Notes on How a Country's Background May Determine Timing and Design of a Regulatory Model,
8 Wash. J. L. Tech. & Arts
Available at: https://digitalcommons.law.uw.edu/wjlta/vol8/iss3/10