CIEX No. 3/2020: Minimum Operational Security Requirements for Electronic Payment Instruments

The Central Bank of Bolivia establishes minimum operational security requirements for electronic fund transfer orders, electronic cards, and mobile wallets, requiring financial entities, payment service companies, ACCL S.A., and EDV S.A. to implement robust authentication mechanisms, including dual-factor authentication for specific transactions. The regulation mandates the use of encrypted communication channels, standard encryption algorithms, and specific data handling protocols, while repealing previous circulars SGDB No. 046/2017 and SGDB No. 011/2018. It sets specific operational limits, such as a Bs150 PIN exemption for contactless transactions and a Bs20 exemption for mobile wallet top-ups, and assigns liability for magnetic stripe transactions based on terminal and issuer capabilities.

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[Logo: BANCO CENTRAL DE BOLIVIA 1928]

BANCO CENTRAL DE BOLIVIA
ESTADO PLURINACIONAL DE BOLIVIA

EXTERNAL CIRCULAR

La Paz, January 2, 2020
CIEX No. 3/2020

FROM: GENERAL MANAGEMENT
FINANCIAL ENTITIES MANAGEMENT
TO: FINANCIAL ENTITIES, PAYMENT SERVICE COMPANIES, ACCL S.A., EDV S.A.
SUBJECT: MINIMUM OPERATIONAL SECURITY REQUIREMENTS FOR ELECTRONIC PAYMENT INSTRUMENTS

Ladies and Gentlemen:

In the framework of Article 27 of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement (RSPIEPCL), approved by BCB Board Resolution No. 137/19 of October 8, 2019, the Central Bank of Bolivia transmits for application and compliance the update of the Minimum Operational Security Requirements for:

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Lineage: In force

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Timeline

This document supersedes: Circular Externa SGDB No. 046/2017: Minimum Operational Security Requirements for Electronic Payment Instruments

Source: Banco Central de Bolivia — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works