December 7, 2022

The Catholic Transcript

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Open Banking

Open Banking: Understanding the Next Steps

Last Tuesday (15), the Central Bank launched a new phase of the third phase of the open banking system, a system that promises to achieve decentralization in the financial market.

With change, from now on Banks You must allow stores to use two alternatives to Pix as a payment method. In the future, it is expected that payment vouchers will also be accepted in commercial establishments.

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In practice, companies that currently include Pix as a transaction option will also be able to use TED and transfers between accounts of the same financial institution.

According to Fábio Lins, CEO of original bankChannels tend to infinity, from supermarket to WhatsApp. Thus, it can be seen that stores attract customers with discounts by paying cash with Pix, since this method can be used outside of business hours, unlike TED.

This option also becomes more attractive because there are no costs in the process for individuals. According to Banco Original CEO, it is important to note that in the case of interbank transfers, TED and DOC should not be free due to the opening of banking services.

“Currently, I don’t see TED or DOC becoming free because of open banking, because they use an outdated technology platform and take longer to be effective in a customer’s account, unlike Pix, whose technology is more modern, allowing for high availability.”

Fabio Linz, CEO of Banco Original

The next stages of open banking

According to the schedule of the Central Bank, two phases are being developed at the same time. The third stage corresponds to the obligations of banking services; At the same time, the fourth phase brings with it open financing, which includes services such as foreign exchange operations, insurance and supplementary annuities.

Find out now the news that is coming soon as a result of the third phase of Open Banking:

  • Until March 30, 2022: It will be possible to submit proposals to run credit from one bank to another;
  • Until 30 June 2022: It will be possible to pay bills in stores;
  • Until September 30, 2022: Stores will be able to make payments using the bank’s discount system, as well as Pix and TED.

Until June 30, the ticket will operate in the same way as Pix, TED, and DOC; That is, any institution with a permit can proceed to the payment of the boleto. Lins explains that “it’ll work like this: You’re in cashier from the supermarket and will agree that the latter will pay your ticket directly at the bank of your choice, it is obviously necessary for your account to have a balance or an overdraft limit.”

The same system will be applied for purchases from the debit account at the end of September.

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Photo: atk business / shutterstock.com