Asaas became a payment institution (IP) authorized to operate by the Central Bank (Bacen) in June 2021, reinforcing our commitment to improving the lives of entrepreneurs and democratizing access to financial management through automation and digital inclusion.
But do you know what this means and how it will change your life? In this article, we will explain the concept of IP, the available options, the main differences between a payment institution and a bank, and the benefits for companies that have an Asaas Account.
Browse the content
What is a payment institution?
According to Bacen , a payment institution (IP) is a legal poland whatsapp number data that provides purchase and sale services and the movement of resources. It can perform financial services, except granting loans and financing to customers.
In practice, examples of IP include electronic platforms and card machines (accreditors). This classification was consolidated with Law 12,865 of 2013, which regulates the payment methods market in Brazil.
The legislation includes concepts such as payment arrangement, payment institution and members of the SPB (Brazilian Payment System), in addition to the role of the Central Bank as a supervisory and regulatory body.
Among the main products and services that a payment institution can offer are:
- payment account;
- issuing of charges;
- bill payment;
- bank transfers;
- prepaid and postpaid credit card.
In this way, customers of an IP, such as Asaas, for example, can receive and send money to other payment and financial institutions, without necessarily having a bank account.
In a country with 34 million unbanked Brazilians and a high unemployment rate, payment institutions are a way to democratize financial access and foster entrepreneurship, strengthening the national economy. Fintechs like Asaas strive every day to offer more innovative, affordable, easy-to-use products with excellent service and cost-benefit.
What is the difference between a payment institution and a financial institution?
The main differences between a lithium battery requirements in 2024 and beyond institution and a financial institution, the term banks fall under, cover two aspects: the type of account and the services offered .
A payment institution offers a payment account , while a financial institution may offer a checking account or savings account. In practice, a payment account works in the same way as a bank account, allowing payments, transfers, deposits and withdrawals to be made.
Regarding the services offered, a payment institution can offer buying and selling and money transfer services , as we saw previously. Loans and financing are exclusive services of banks (which are financial institutions).
What are the types of payment institutions?
According to the Central Bank of Brazil , a payment saultdata can operate in up to four ways:
- electronic money issuer;
- postpaid payment instrument issuer;
- accreditor;
- payment transaction initiator.
But what do these classifications mean in practice? Below we explain each of them in a simple way.