The Central Bank of Paraguay (BCP) implemented a gradual reduction on Monday in the fees charged for credit and debit card transactions. The new rules, based on Law No. 5,476/15, lower the maximum fees from 4% to 3% for credit cards and from 3% to 2% for debit cards.
The measure aims to encourage the use of electronic payment methods, reduce the circulation of physical cash, and promote financial inclusion in the country. The BCP emphasized that the decision was made following a technical analysis conducted by the Superintendency of Banks (SIB) and the institution's own sub-management of financial operations.
The new fees apply to all operators and issuers involved in the payment intermediation process, regardless of the stage or function performed. The reduction will be implemented gradually to allow financial institutions to adapt to the changes.
According to the BCP, the measure also seeks to increase the competitiveness and formalization of the sector, in addition to contributing to transparency in commercial transactions. The expectation is that the reduction in fees will stimulate commerce and facilitate access to banking services for small businesses and consumers.