Financial Institutions and Markets

Regulatory Decree Nº 6-A/2021, which amends Regulatory Decree Nº 2-A/2021 regarding the specific operating conditions of the IVAucher program was published on September 8th.

The rules were amended as follows:

• The adhesion and use of the IVAucher program can now take place before third parties in the area of payments authorized by the operating entity, namely entities participating in the interbank clearing system of Banco de Portugal
• The program will benefit consumers (individuals) who accept the respective terms of use before the system operator or third parties in the area of payments authorized by it, in order to allow the use of the benefit through TPA/POS identified by them or payment software validated by the system operator.
• When the participating consumer makes a payment, through a payment method eligible by the system operator, part of the payment amount is supported by using the benefit that is available, with the remainder amount borne by the consumer.
• The period for reimbursement of the amount to the consumer's bank account is limited to a maximum period of two working days after payment.
• Paragraph 3 of Article 9 is revoked and therefore, the system operating entity does not have to provide the consumer, at the time of payment, information on the amount borne by the State and the balance amount of the benefit, by printing this information on the printed receipt by TPA/POS or equivalent.

The main objectives of these changes are to boost and support the sectors most affected by the pandemic, namely accommodation, culture and catering, expanding the scope of the program to cover all entities operating three sectors