The contract between a Withdrawal Service Facilitator and a Withdrawal Agent must provide for the minimum aspects established by article 11-L, paragraph 1, of Brazil’s Pix Regulation (Regulamento do Pix), including the following:
The contract to be entered into between the Withdrawal Service Facilitator and the Withdrawal Agent must provide for the minimum aspects set forth in article 11-L, § 1, of the Pix Rules, among which are:
(i) the withdrawal agent must comply with the rules for facilitating the withdrawal service within the scope of the Pix Saque or Pix Troco products, and with the rules for using the Pix brand, under the terms of the Pix Regulation;
(ii) the withdrawal agent is prohibited from establishing more than one withdrawal service facilitator simultaneously;
(iii) the withdrawal agent is prohibited from collecting fees from paying users; and
(iv) the withdrawal agent is required to disclose the Pix Saque or Pix Troco services in clear, adequate and accessible language in the withdrawal agent’s physical premises, and on its websites and apps.
Within the scope of Pix, a Pix participant who qualifies as a transactional account provider and is authorized to operate by the Central Bank of Brazil (Banco Central do Brasil/Bacen) may become a Withdrawal Service Facilitator.
The Withdrawal Agent may be the following:
(i) a commercial establishment of any nature;
(ii) another legal entity whose main or secondary activity is the provision of auxiliary services to financial services or similar; or
(iii) a correspondent in Brazil.