BCP sets caps for commissions on certain Sipap services

The Central Bank of Paraguay (BCP) has introduced a new tariff regulation for payment services within the Sipap system, establishing caps on commissions to address market imbalances and enhance transparency. The BCP stated that this move aims to protect both merchants and users by clarifying costs and preventing ambiguous or duplicate charges.

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The absence of a comprehensive tariff regime generates information asymmetries, low cost comparability, risks of ambiguous or duplicate charges, and possible competitive distortions among similar payment services.

This regulation, enacted under Paraguay's National Payment System Law (Law No. 7.503/2025) and Law No. 5.476/2015, sets clear rules for information transparency, authorized fee names, and maximum tariffs for commissions, expenses, and penalties related to payment services. The new framework applies to participants and providers operating services through the Paraguay Payment System (Sipap), including card acquiring, networks, processing, proprietary systems, and other authorized payment services. Importantly, the BCP clarified that these regulations do not affect standard transfers (SIP).

Key commission caps include a maximum of 1.5% of the transaction amount (including VAT) for Payment Initiation Service Providers (PISP), payment requests, direct debits, and interbank transfers within proprietary systems. For sponsoring participants, the cap is set at 1% of the transaction amount, with a maximum limit of G. 5,500. Additionally, payments initiated via QR codes that use credit transfers as the underlying mechanism will also be subject to a maximum commission of 1.5% of the transaction amount, inclusive of VAT, regardless of whether they operate on public or private infrastructure.

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This measure will guarantee more equitable conditions for comparable services and foster a competitive environment for the benefit of merchants and end-users.

The BCP believes these measures will foster more equitable conditions for comparable services, promoting a competitive environment beneficial to businesses and end-users. Transparency is highlighted as a central tenet, requiring providers to publish updated fee schedules, clearly communicate all charges, justify fees technically, and ensure each charge is verifiable and corresponds to the service provided.

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Transparency is the central axis of the regulation, as providers must publish updated fee schedules, clearly inform about commissions, expenses, and penalties, technically justify charges, and ensure that each charge is verifiable and corresponds to the service.