📋 Tender Overview
The Central Bank of Uruguay BCU announced that as of September 1 merchants and service providers will have all the payment options for debit and credit cards through a single provider of their preference. The president of the entity Diego Labat explained that this system will facilitate access since with a single contract all companies are included.The manager of the BCU Payment System Ana Claudia de los Heros and the vice president of the institution Washington Ribeiro also participated in the conference.In the activity the state bank reported that as of September 1 the process called multiacquisition will be completed which enables businesses to have a single contract with all debit credit and electronic money cards. from Mastercard and Visa.Labat explained that with this action that is beginning to be established it is sought that those companies that offer the payment system allow a single company to ensure access to all means. Until now when a business wanted to offer different credit cards it had to sign a contract with the representative of each of the brands. With this new system access is facilitated since with a single contract all companies are included said the hierarch.In addition he said that Mastercard has already operated this way since the second half of 2021 and that Visa will also do so from tomorrow. He added that he hopes there will be more competition which he pointed to as a factor that will benefit merchants and ultimately consumers.He also celebrated that each entrepreneur has the freedom to choose the supplier with which he wishes to work and added that he hopes that the incidence will allow a greater number of services or added value that the acquiring firms grant to the businesses and not so much in competition. of prices.From the BCU it is recommended to evaluate the new conditions of the offers and it is expected that this progress will allow moving towards a greater efficiency of the payment system similar to the results obtained in other countries.To reach this instance of opening the companies in the market were the protagonists of a process of dialogue and adaptation of their technology promoted by the BCU which began with the implementation of the Roadmap project for the Payment System in Uruguay which the entity implemented in 2020.
