Assimetria regulatória entre tnstituições financeiras e instituições de pagamento

Abstract

Payment fintechs have emerged amidst a scenario of search for innovative, fast and digital financial services. As of the publication of Law 12,865/13, this type of fintech, called payment institutions (PI), became regulated, with their activities defined and integrated into the Brazilian Payment System (SPB). The advancement of the adhesion of products offered by payment institutions and their participation in the SPB requires attention from regulatory bodies, with respect to financial stability. Thus, this study aims to investigate the regulatory differences between these new entrants and financial institutions (FIs), already established in the market. To achieve the proposed objective, the impacts of payment fintechs on current models, and the factors that regulate financial institutions and payment institutions, with respect to chart of accounts, documents submitted to the Central Bank, and tax aspects, were analyzed. Having said this, the financial statements of Banco Itaúcard S.A. and Cielo S.A. are analyzed, institutions that represent, in terms of billing, the largest financial institutions and payment institutions, respectively, listed on the B3 - Brasil, Bolsa, Balcão. The results found show a more lenient regulation for payment institutions, lower Income Tax (IR) and Social Contribution on Net Profits rates, and fewer reports to the Central Bank. Thus, it can be concluded that the advance of this segment and the relevant sizes that they are reaching require a proportional prudential regulation.