Brazil Thursday unveiled proposals aimed at increasing competition and transparency in the country's payment card processing industry.

Following a five-month study, a government panel made a series of recommendations, including the end of exclusivity contracts between processors and MasterCard Inc. and Visa Inc.

Other proposals include the sharing of networks and point of sale systems between processors, and increasing transparency on transaction rates.

Brazilian lawmakers are expected to introduce a bill aimed at revamping the country's payments industry, though a credit card bill is unlikely to pass into law soon as Brazil's Congress has a packed agenda for the rest of the year.

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