Business

Brazilian government is pondering granting credit via POS devices

The proposal of granting credit via POS device was a request by the creditor Stone cards

The proposal of granting credit via POS device was a request by the creditor Stone cards. Image: TON

The Brazilian government is analyzing a proposal for granting credit via POS devices for micro, small and medium-sized companies impacted by the quarantines imposed as a result of the coronavirus pandemic. According to Valor Econômico, the sales plummet reaches 70% in the most affected sectors in the states of São Paulo, Rio de Janeiro and Santa Catarina.

The proposal of granting credit via POS device was a request by the creditor Stone cards. Image: TON

The proposal of granting credit via POS devices was made by Stone cards. The initial idea is to provide BRL 100 billion in credit, at a rate of 3.75% per year, a three-year term and a one-year grace period for payment, considering that, after the quarantine period, many businesses will experience slow sales recovery.