CMF sets new timeframes for payment card operators’ enrollment
The regulation establishes three milestones to complete the enrollment process of entities subject to the transition framework.
November 4, 2026 - The Financial Market Commission (CMF) issued today a General Rule that amends Circular Letter No. 1 for Payment Card Issuers and Operators. It sets new timeframes to complete the enrollment process of entities described in numbers 1 and 2 of the transitory dispositions of Chapter III.J.2 of the Compendium of Financial Standards of the Central Bank of Chile.
The milestones entities must complete are as follows:
- January 31, 2027: Submit all background information required to obtain their authorization of existence.
- March 31, 2027: Submit an Operational Testing Plan along with the background information required for its evaluation.
- May 31, 2027: Submit all background information required to obtain their functioning authorization.
The regulation aims to provide certainty and facilitate an orderly transition of these entities towards the final framework. It becomes effective on the date of issuance.