The Central Bank of Paraguay (BCP) implemented new maximum limits on fees charged for credit and debit card transactions, as well as QR Code payments, on Wednesday, July 1. The new rules establish a cap of 3% for credit and 2% for debit, reducing costs for merchants who use card terminals or digital payment systems.
According to Liana Caballero Krause, a member of the BCP's board, the measure aims to correct market distortions in the local economy, where intermediaries known as "sub-acquirers" were charging small businesses as much as 8%. Now, processors such as Bancard, Bepsa, Procard, Cabal, and Panal, as well as payment gateways, are subject to the same limits.
QR codes linked to cards will also follow the new rules, but the BCP highlighted that it is developing an alternative system via QR Hub, directly connected to bank transfers, which promises even lower fees than the current 2%. The project is part of Paraguay's Payment System (Sipap) and is expected to be regulated in the coming months.
Despite the increased use of cards in the country, the BCP stated that delinquency rates and average balances remain stable, with consumers taking advantage of cashback promotions without accumulating long-term debt.