Brazil Begins Enforcing 3.6% Cap on Meal Voucher Fees and Expands Acceptance

Key Facts

Brazil began enforcing new rules on food and meal vouchers on November 7, 2026, including a 3.6% cap on merchant discount fees and a maximum settlement period of 15 calendar days. The rules cover companies that provide the benefits, whether or not they are registered with the Workers’ Food Program, according to a clarification from the Ministry of Labor and Employment in July. The rollout is part of a decree that aims, according to the Finance Ministry, to increase transparency, competition and integrity in the voucher system. The rules allow workers to use their benefits at a wider range of outlets through payment terminals equipped to process these transactions. The changes do not automatically increase the value of the benefit workers receive.

The limits apply to transaction fees at restaurants, supermarkets and other accredited businesses, according to the Labor Ministry. The ministry set the merchant discount fee cap at 3.6% of the transaction value and a maximum settlement period of 15 calendar days. This shortens the period businesses typically waited before receiving their dues: when the decree was announced in November 2025, the Finance Ministry said restaurants and similar establishments received the funds after 30 days. The decree at the time stipulated that transfers would be made within 15 calendar days of a transaction. The new framework thus combines a fee cap with a deadline for settling funds.

The rules also seek to open payment systems to other providers in a market marked by high concentration, according to estimates cited by Reuters in November 2025. The agency estimated that four companies control about 85% of a market handling nearly 170 billion Brazilian reais a year. Decree 12.712 had already stipulated that systems serving more than 500,000 workers must open to participation by other companies within 180 days of its publication. The Finance Ministry said the reform aims to ensure “greater transparency, competition and integrity” in the food and meal voucher system. The rules provide a broader framework for service providers to compete to accept transactions.

The regulations cover more than transaction fees and opening up systems. They prohibit imposing additional costs on businesses, including joining fees, annual fees and other charges, according to the Labor Ministry. They also bar the provision of indirect financial benefits to contracting companies. The ministry says companies that violate the rules could lose tax and administrative benefits provided by law, including those linked to the Workers’ Food Program. Compliance requirements therefore extend to the commercial terms surrounding voucher acceptance, as well as discount fees and settlement deadlines.

The ministry set administrative penalties for violations ranging from 5,000 to 50,000 Brazilian reais. The fine may be doubled in cases of repeat violations or obstruction of inspections, according to its clarification in July 2026. The penalties come as the program includes 327,736 registered beneficiary companies and covers 22.1 million workers across the country, according to the Finance Ministry. The broad beneficiary base gives the new rules a reach beyond a single provider or group of formally registered companies. Voucher acceptance remains tied to payment terminals equipped for this type of transaction, and the rule does not require every store to accept them.

The voucher reform is part of a broader effort to liberalize the sector that began before the current decree. Reuters reported that a law passed in 2022 introduced the principle of interoperability, while transfers of meal balances to a provider chosen by the worker remained stalled at the time of the agency’s November 2025 report. In that report, government estimates indicated that restaurants paid fees about 8% higher on meal voucher transactions than on credit card sales. This background highlights some of the challenges the regulations seek to address by expanding acceptance and controlling fees. The practical impact of implementation, however, remains tied to the ability of operators’ systems and payment terminals to integrate.

Integration faces operational challenges, as broader acceptance depends on systems and terminals being ready to process vouchers, according to the angle presented by the sources. For workers, the change concerns the ability to use the card at more outlets, not an automatic increase in the benefit’s value. The value of benefits remains unchanged unless a separate change is issued, according to the Finance Ministry’s clarification of the decree’s aim. On monetary policy, Copom had cut the Selic rate to 13.75% a year in a decision on September 16, 2026. The central bank has scheduled the committee’s meeting for November 3 and 4, with the minutes due to be published on November 10, 2026, at 11:00.