BANCO CENTRAL OF BOLIVIA

PLURINATIONAL STATE OF BOLIVIA

EXTERNAL CIRCULAR

La Paz, May 22, 2020
CIEX No. 23/2020

FROM: GENERAL MANAGEMENT
FINANCIAL ENTITIES MANAGEMENT
TO: PARTICIPANTS IN THE INTEGRATED PAYMENT SETTLEMENT SYSTEM SUBJECT: PROCEDURE FOR NO OBJECTION TO NEW ELECTRONIC PAYMENT SERVICES AND INSTRUMENTS

Ladies and Gentlemen:

Within the framework of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement, updated with BCB Board Resolution No. 137/2019 of October 8, 2019, and its subsequent modifications, entities covered by this regulation must request the No Objection of the Issuing Authority in case they require the incorporation of any service or Electronic Payment Instrument (EPI) into their operations¹.

For this purpose, the Request Procedure for No Objection is described below for strict compliance:

1. The entity shall issue a note to the General Management of the BCB requesting the no objection for the provision of the new service or Electronic Payment Instrument (EPI), attaching the necessary documentation with the description of the new service or EPI. Previously, the sending of the "Guide for the elaboration of the no objection request document for the provision of new services and Electronic Payment Instruments" and the related regulatory framework can be requested via email to sistemadepagos@bcb.gob.bo.
2. The aforementioned note must contain at least the following points:
   a) Name of the payment service or instrument. b) General functional description. c) Security features.

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¹ Article 11 (Other payment operations).

The BCB contributes to the economic and social development of the country Ayacucho Street corner Mercado - Telephone: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz - Bolivia

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BANCO CENTRAL OF BOLIVIA

PLURINATIONAL STATE OF BOLIVIA

d) Associated processes and procedures, (affiliation, authentication, information processing, operational flow, aspects related to interoperability, etc.). e) Channels through which the instrument or service will be provided. f) Detail of functional tests performed and the documentation that allows validating the proper functioning of the new service or EPI and its interoperability with other systems or payment platforms. g) Contingency and operational continuity plans, which include the detail of identified critical processes, estimated recovery times, and responsible parties. h) Dissemination and training tasks, which include the schedule, detail of activities, and responsible parties.
3. The Issuing Authority shall issue a response to the entity or request complementary information.
4. In case the BCB requires complementary information, it is a requirement that the entity submit this information for the conclusion of the corresponding analysis and issuance of the response.
5. The BCB shall send the General Management note communicating to the entity the no objection or objection, as appropriate, for the provision of the service, with the respective technical justification.
6. Once the response is received, the entity may continue the procedure by requesting authorization from the Financial System Supervision Authority (ASFI), attaching the BCB's no objection as a precedent.

External Circular SGDB No. 006/2018 of February 5, 2018, is hereby repealed.

Sincerely,

[Signature]
JOAQUIN ROLANDO LÓPEZ BAKOVIC
FINANCIAL ENTITIES MANAGER
BANCO CENTRAL OF BOLIVIA

[Signature]
ABEL F. SANJINÉS ÁLVAREZ
GENERAL MANAGER a.i.
BANCO CENTRAL OF BOLIVIA

ASA/JRLB/ropr/pmms/aada
C.c. Archive

The BCB contributes to the economic and social development of the country Ayacucho Street corner Mercado - Telephone: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz - Bolivia