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2021-11-18 | RESOLUCIONES DE DIRECTORIO N° 129/2021

Added 2026-07-27 · Updated 2026-08-13

Board Resolution No. 129/2021

The Central Bank of Bolivia amends the Payment Services, Electronic Payment Instruments, Compensation and Settlement Regulation to mandate that financial entities verify providers possess an authorized electronic invoicing system before processing basic service payments via electronic channels. Financial institutions must implement online invoicing for payment services concluding with invoice issuance and enable electronic banking channels for all account holders by December 31, 2021, with a six-month grace period for late adopters. The resolution also requires the Central Bank to issue non-objection opinions on the Internal Operating Regulations of Compensation and Settlement Chambers, Securities Depository Entities, and Payment Service Entities, while the Financial System Supervisory Authority retains verification duties.

Bolivia

Banco Central de Bolivia

Central Bank of Bolivia

Board of Directors

BOARD RESOLUTION NO. 129/2021

SUBJECT: FINANCIAL ENTITIES MANAGEMENT – APPROVES MODIFICATIONS TO THE REGULATION ON PAYMENT SERVICES, ELECTRONIC PAYMENT INSTRUMENTS, COMPENSATION AND SETTLEMENT.

VISTOS:

The Political Constitution of the State of February 7, 2009.
Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB).
The Statute of the BCB approved by Board Resolution No. 128/2005 of October 21, 2005, and its subsequent modifications.
Law No. 393 of August 21, 2013, on Financial Services.
The Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement (RSPIEPCL) approved by Board Resolution No. 069/2021 of April 27, 2021.
Normative Board Resolution No. 102100000011 of the National Tax Service (SIN) of August 11, 2021.
Normative Board Resolution No. 102100000012 of the National Tax Service of August 11, 2021.
Normative Board Resolution No. 102100000019 of the National Tax Service of October 14, 2021.
Report from the Financial Entities Management BCB-GEF-SSPFS-DVSP-INF-2021-32 of November 17, 2021.
Report from the Legal Affairs Management BCB-GAL-SANO-DLBCI-INF-2021-220 of November 17, 2021.

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CONSIDERING:

That the Political Constitution of the State, in its article 327, establishes that the BCB is a public law institution, with legal personality and its own assets. Within the framework of the State's economic policy, it is the function of the BCB to maintain the stability of the internal purchasing power of the currency, to contribute to economic and social development.
That numeral 3 of article 328 of the Constitutional Text establishes that it is an attribute of the BCB, in coordination with the economic policy determined by the Executive Branch, in addition to those indicated by Law, to regulate the payment system.
That pursuant to article 331 of the Political Constitution of the State, financial intermediation activities, the provision of financial services, and any other activity related to the handling, use, and investment of savings, are of public interest and can only be exercised with prior authorization from the State, in accordance with the Law.
That Law No. 1670 of the BCB, in its article 3, establishes that the BCB is the sole authority that will formulate general application policies in monetary, exchange, and payment system matters for the fulfillment of its object.
That Law No. 1670 of the BCB, in its article 30, establishes that all entities of the financial intermediation and financial services system, with authorized operation, are subject to the competence of the Superintendency of Banks and Financial Entities, currently the Financial System Supervisory Authority, an entity that will exercise supervision and control of compliance with norms and for its execution may make non-binding consultations with the BCB, as indicated in article 34; on its part, article 37 establishes that the BCB will be the depository of liquid reserves intended to cover the legal reserve and attend the payment system and other operations.
That Law No. 1670 of the BCB, in its article 44, provides that the highest authority of the BCB is its Board of Directors, which is responsible for defining its policies, specialized general application norms, and internal norms; as well as establishing administrative, operational, and financial strategies of the BCB.
That Law No. 1670 of the BCB, in its article 54, establishes that the Board of Directors of the BCB has the following attributes: subsection a) issue norms and adopt general decisions that are necessary for the BCB to fulfill its functions, competencies, and powers assigned by Law; subsection b) regulate the administration of payment systems between authorized financial

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entities; subsection o) approve, modify, and interpret the Statute and Regulations of the BCB, by two-thirds of the votes of all its members, without the need for any additional administrative act.

That the Statute of the BCB and its subsequent modifications, in numerals 1, 24, and 29 of article 11, establish that the Board of Directors of the BCB has the attribute to approve general decisions and issue norms that are necessary for the BCB to fulfill the functions, competencies, and powers assigned by law; it also refers that it has the attribute to regulate financial operations with the exterior carried out by public and private persons or entities; and may approve and modify the Statute and Regulations of the BCB, by two-thirds of the votes of its members, without the need for an additional administrative act.
That on its part, article 26 of the Statute of the BCB establishes that the Board of Directors pronounces on matters within its competence through resolutions. It may also do so through decisions that will be expressly recorded in the minutes. Every draft Board resolution must be motivated and justified by a technical report from the Management or Managements to whom the matter subject to resolution corresponds and by a report from the Legal Affairs Management.
That Law No. 393 on Financial Services establishes that the ASFI will issue specific regulation and supervise its compliance within the framework of the norms issued by the BCB in the scope of the payment system as indicated in paragraph III of article 8.
That the BCB's RSPIEPCL regulates the services and Electronic Payment Instruments, the compensation and settlement of these instruments within the scope of the national payment system, as well as the creation, constitution, and operation of Compensation and Settlement Chambers (CCL) and Payment Service Companies (ESP).
That Normative Board Resolution No. 102100000011 of the National Tax Service regulates the invoicing system in the national territory and establishes in paragraph II of article 10 that "Financial Entities will implement the use of an online invoicing modality for payment services and electronic payment instruments that conclude with the issuance of the invoice."
That Normative Board Resolution No. 102100000011 of the National Tax Service, in numeral II of article 34, provides that "the issuer providing invoicing services for third parties must have authorized the Electronic Online and/or Computerized Online invoicing modalities in order to issue Fiscal Documents

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Digitally on behalf of other Taxpayers."

That Normative Board Resolution No. 102100000012 of the National Tax Service, in its Annex, establishes a list of taxpayers who must adapt and implement their computerized invoicing systems so that from December 1, 2021, they issue Digital Fiscal Documents through the assigned online invoicing modality.
That Normative Board Resolution No. 102100000019 of the National Tax Service establishes the second group of taxpayers who must implement an online invoicing modality starting from April 1, 2022.
That the Financial Entities Management through Report BCB-GEF-SSPFS-DVSP-INF-2021-32 indicates that from the evaluation carried out on the RSPIEPCL, it was evident that it is necessary to make clarifications on the provisions referred to online invoicing for service payments through electronic instruments and channels in concordance with the specific regulation issued by the National Tax Service, as well as to specify that the BCB carries out the evaluation and issues non-objection to the Internal Operating Regulations of CCLs, Securities Depository Entities, and ESPs, having coordinated the modification proposal with the Financial System Supervisory Authority and the National Tax Service.
That according to Report BCB-GAL-SANO-DLBCI-INF-2021-220, the Legal Affairs Management indicates that the draft modification of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement (RSPIEPCL), presented by the Sub-management of Payment System and Financial Services (SSPSF) dependent on the Financial Entities Management (GEF) through Report BCB-GEF-SSPFS-DVSP-INF-2021-32 of November 17, 2021, considering the suggestions made by the Financial System Supervisory Authority, the concordance with the provisions of the Internal Tax Service and the Financial System Analysis Committee (COASIF), is legally procedent, as it does not contravene the current legal order, being an attribute of the BCB Board of Directors its approval, by two-thirds of the votes of all its members, in accordance with what is established in subsections a) and o) of article 54 of Law No. 1670 and numerals 1) and 29) of article 11 of the Statute of the BCB.

THEREFORE

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THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Modify Article 27 of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement approved by Board Resolution No. 069/2021, in the following terms:

SAYS:

Article 27. (Issuance of invoice for electronic payments).

I. Basic service payments that have enabled collection services with Financial Entities that are processed through electronic banking, mobile banking, or mobile wallets must complete the payment cycle with the generation of a digital invoice, under some valid invoicing modality, and send the "Graphic Representation of the Digital Invoice" via email or another means that guarantees the privacy of the information. For this effect, financial entities must adjust their systems or hire specialized services for the implementation of this functionality by November 22, 2021.

II. Financial Entities that incorporate basic service payments, through the aforementioned electronic channels, after the defined deadline, will have a maximum of up to six (6) months to complete the payment cycle with the generation of a digital invoice.

III. Within the framework of its supervision attributes, the Financial System Supervisory Authority will verify compliance with this provision.

MUST SAY:

"Article 27. (Verification and issuance of invoice for electronic payments).

I. Financial Entities, prior to providing collection services that are processed through electronic banking, mobile banking, or mobile wallets, must verify that the company requiring the collection service proves the availability of an Authorized Invoicing Computer System by the National Tax Service (SIN) that allows the sending of transaction information in XML format and the "Graphic Representation of the Digital Fiscal Document", considering for this effect the invoicing modality assigned by the Tax Administration and its implementation dates.

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II. Financial Entities will implement the use of an online invoicing modality for their payment services and electronic payment instruments that conclude with the issuance of an invoice, as established in the Regulation of the Invoicing System issued by the SIN.

III. Within the framework of its supervision attributes, the ASFI will verify compliance with this provision."**

Article 2.- Include a paragraph in Article 56 of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement approved by Board Resolution No. 069/2021, in the following terms:

SAYS:

Article 56. (Verification of requirements).

I. Within the framework of article 8, paragraph III, of Law No. 393 on Financial Services, it corresponds to the ASFI to verify compliance with what is established in this Regulation.

II. For the corresponding purposes, the ASFI will communicate to the BCB the authorization and/or operating license requests presented by CCLs, Securities Depository Entities, or ESPs.

III. The BCB, at the request of the ASFI, may carry out system operation tests of the compensation and settlement computer system of OPs in order to verify compliance with the operational and administrative requirements established in this Regulation.

MUST SAY:

"Article 56. (Verification of requirements).

I. Within the framework of article 8, paragraph III, of Law No. 393 on Financial Services, it corresponds to the ASFI to verify compliance with what is established in this Regulation.

II. For the corresponding purposes, the ASFI will communicate to the BCB the authorization and/or operating license requests presented by CCLs, Securities Depository Entities, or ESPs.

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IV. The BCB will evaluate and issue non-objection to the IORs of CCLs, Securities Depository Entities, and ESPs."**

Article 3.- Modify the wording of Additional Provision First of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement approved by Board Resolution No. 069/2021, in the following terms:

SAYS:

First. (Activation of electronic channels). Financial intermediation entities that have electronic banking and/or mobile banking available must activate these channels for all their account holders by December 31, 2021. Within the framework of its supervision attributes, ASFI will verify compliance with this provision.

MUST SAY:

"First. (Activation of electronic channels). Financial intermediation entities that have electronic banking and/or mobile banking available must activate these channels for all their account holders by December 31, 2021, with prior express acceptance of the holder, documenting the actions taken for this effect. Within the framework of its supervision attributes, the ASFI will verify compliance with this provision."**

Article 4.- Modify the wording of Additional Provision Second of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement approved by Board Resolution No. 069/2021, in the following terms:

SAYS:

Second. (Activation of basic service payments through electronic channels). Financial intermediation entities that provide basic service payment services and have electronic banking and/or mobile banking

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available must activate these channels for basic service payments (water, electricity, internet, gas, mobile phone) from providers serving Department capitals by March 1, 2022. Within the framework of its supervision attributes, ASFI will verify compliance with this provision.

MUST SAY:

"Second. (Activation of basic service payments through electronic channels). Financial intermediation entities that provide basic service payment services and have electronic banking and/or mobile banking available must make these channels available for basic service payments (water, electricity, internet, gas, mobile phone), in accordance with what is established in Article 27 of this Regulation. Within the framework of its supervision attributes, the ASFI will verify compliance with this provision."**

Article 5.- This Resolution will enter into effect from its approval.

Article 6.- The Presidency and General Management are charged with the execution and compliance of this Resolution.

La Paz, November 18, 2021

Roger Edwin Rojas Ulo PRESIDENT a.i.

Oscar Ferrufino Morro VICEPRESIDENT a.i.

Gabriel Herbas Camacho DIRECTOR a.i.

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Gumercondo Hector Pino Guzman DIRECTOR a.i.

Diego Alejandro Perez Cueto Eulert DIRECTOR a.i.