CMF revokes authorization of existence, cancels registration of U-Pay Processing Tarjetas Prepago S.A.
The Board’s decision is based on the company’s non-compliance with the regularization plan it was subject to regarding capital and reserve requirements established by the Central Bank of Chile for all non-banking payment card issuers.
November 28, 2025 - The Financial Market Commission (CMF) revoked the authorization of existence and canceled the registration of "U-Pay Processing Tarjetas Prepago S.A."
Per Exempt Resolution No. 12,434 of November 28, 2025, the Board's decision is based on the company's non-compliance with the regularization plan it was subject to regarding capital and reserve requirements. All non-banking credit card issuers must maintain a minimum level of both due to regulations established by the Central Bank of Chile.
The Board's resolution means U-Pay cannot operate in its line of business and must be liquidated. Additionally, its entry on the Commission's Registry of Payment Card Issuers and Operators is canceled.