Reuters: Regulatory News: STXNEWS LATAM-Brazil may announce rules for mobile payments-report

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STXNEWS LATAM-Brazil may announce rules for mobile payments-report Oct 29th 2012, 13:14 Mon Oct 29, 2012 9:14am EDT Brazil's central bank on Monday may announce the creation of a program for so-called mobile payments, or payment services, performed via a wireless phone device, newspaper Folha de S. Paulo reported. The plan aims to boost the use of mobility solutions to provide banking services to low-income households through the use of prepaid accounts for payment of bills, purchase of credit for prepaid mobile phones and money wire transfers, Folha reported, without specifying how it got the information. Several analysts have outlined risks for banks and merchant acquirers in Brazil as the initiative may heighten the chance of regulatory intervention. Mobile payments could compete with a relatively modern, low-cost platform for banking services for the poor, being led by Banco do Brasil SA's Banco Postal. The central bank will host a seminar on means of payment in the southern city of Porto Alegre on Monday.

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