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CMF publishes for consultation a new Regulatory File on Payment Cards with Provision of Funds

It incorporates information on balances and use of these financial instruments for both banking and non-banking issuers.

November 14, 2023 - The Financial Market Commission (CMF) published for consultation today a new Regulatory File referring to Payment Cards with Provision of Funds and their corresponding fund provision accounts. This proposal aims to create a specialized Regulatory File about such cards that allows to monitor their market development and supervise some elements regulated by the Central Bank of Chile (Chapter III.1.J, Title IV, Number 9).

The new File is for measuring the activity level of prepaid cards calculated on issuance numbers and cash flows, assess the ways to contract them, and their usage as means of payment, among other issues.

Interested parties can check the Draft Rules & Norms section of the CMF website until December 6, 2023 to review the regulatory proposal and submit their feedback. The Commission also makes available the corresponding Regulatory Report evaluating the impacts of the proposal.

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