Central Banking

SPB to stimulate debit card use in Brazil

BRAZIL - Brazil's inter-bank settlement program (SPB) is expected to cause a rise in debit card use and a corresponding decrease in check use due to high pre-funding fees, Bradesco technology director Osmar Roncolato Pinho told participants of a conference to discuss Bradesco's strategy for SPB adoption.

Brazil currently has the highest check-usage figure in the world and SPB will lead to a significant cultural change, he said.

Banks have yet to set pre-funding fees, but the consensus is a rate