Wix Payments Brazil: About The Receivables Registers

A new Central Bank (Bacen) regulation allows merchants to trade their receivables and also use them as guarantees for loans.

The new regulation formed the Receivables Registers, which regulate the credit card payments market in Brazil. This includes the future payments schedule of all establishments that operate with credit cards, including Wix Pagamentos.

Following the Bacen regulation, merchants can use future payments as collateral / guarantee for credit with lenders in Brazil. These actions are being overseen by the Receivables Registers.

When the settlement date of a committed payment from a merchant arrives, the corresponding amount can be settled directly with the lender.

Depending on your loan agreement, certain payments may be automatically redirected by the payment processor directly to your lender(s). This means that the amount committed to the applicable lender will go from your processing / pending funds directly to the lender institution, without ever reaching your Wix Pagamentos available funds.

There are some changes regarding how different payment methods affect your Wix Pagamentos account balance. These are as follows:

Your account can present a negative balance whenever there isn’t enough money to cover the refunds / chargebacks that may be deducted from it.

There are two kinds of negative balance according to each payment method’s settlement logic, depending on whether payments are made via credit card / Boleto, or instant payment (Pix).

You may have one or two negative balance types, depending on the payment methods you accept, as well as the chargebacks / refunds you may incur.

A negative balance for credit card / Boleto payments affects your future payments, your payables schedule, and is automatically corrected by new credit card / Boleto transactions you may receive.

A negative balance for Pix payments affects your available funds and it is automatically covered by new Pix transactions, or future settling payments received via Credit card / boleto.

If you have a negative balance in your Wix Pagamentos account for credit card / Boleto payments, some, or all, of your available funds may be put 'on hold' until the debt has been covered.

The negative balance can be covered in 2 ways:

If there’s available funds in your account, the amount you owe in credit card / Boleto negative balance will be withheld until your debt is solved.

If more funds are added to your available funds through Pix payments, these will also be placed on hold (up to total of the negative balance amount) until your debt is cleared.

Available funds cannot be used to cover a negative balance because amounts settled in your account cannot be reverted to be processing funds.

If you’ve stopped processing, you can contact Wix Customer Care. Our experts can issue you a Boleto to add funds to your account to cover the negative balance.