Entities prepare a statement to prevent the expiry of interest-free installments on credit cards

The goal of the discussions in recent days, PSJ transfer, in 2022, more than one trillion Brazilian reais, equivalent to 10% of GDP

Marcos Santos / USP Photo Entities related to the trade and services sector want to prevent the end of the interest-free installment period on credit cards

Entities related to the trade and services sector prepared a statement issued on Wednesday 23, to prevent the end of the lockdown period Installment without interest (PSJ) on your credit card. The goal of the discussions in recent days, PSJ transfer, in 2022, more than R$ 1 trillion, equivalent to 10% of GDP. gross domestic product (Gross Domestic Product) in Brazil. This method allows consumers to purchase a product or service under conditions that fit their budget, and for the entrepreneur, it is a line of credit for cheaper working capital. PSJ’s extensive defense of credit card purchases was conducted by Sebrae and eight other entities. The document is a response to the possibility of reducing this type of payment, which was recently proposed by the President B.C.E. (central bank), Roberto Campos Neto. According to the authorities, the interest-free installment cannot be linked to the idea of ​​financial irresponsibility. “Restricting the PSJ restricts competition and deprives residents, retailers and the economy as a whole of an essential tool.” According to Sibrai, the large amount charged in interest on a revolving credit card can put businesses at risk and prevent home consumption. “Small businesses will be the most affected by the taxes,” he adds. The Brazilian Association of Wholesalers and Distributors of Industrial Products (ABAD), the Brazilian Association of Payment Institutions (Abipag), the Brazilian Internet Association (Abranet), and the Brazilian Association of Academies have signed the “Statement of Right to Continue Purchases in Installments”. Interest Free (Acad Brasil), Alobrás Association of Shopkeepers, Conecta, Parcele na Hora, Prostete, Euroconsumers Brasil, Union of Rua 25 de Março Shopkeepers and Surroundings (Univinco), as well as Sebrae.

*With information from the reporter Daoud Tarsousi.