Regulatory Alerts2020-12-29 | CIEX N° 59/2020Added · Updated
CIEX No. 59/2020: Interoperability of Electronic Channels and 24/7 Operations for Payment Order Processing
The Central Bank of Bolivia mandates that participants in the Integrated Payment Settlement System enable electronic channels for 24/7 processing of Electronic Fund Transfer Orders and ensure full interoperability of payment channels for authorized Electronic Payment Instruments. The regulation establishes specific compliance deadlines based on entity type: clearing houses, mobile payment service companies, and electronic card administrators must meet interoperability requirements by March 1, 2021; savings and credit cooperatives and housing finance entities must enable 24/7 OETF channels by March 31, 2021; development financial institutions and banks with mobile wallet services must comply by April 30, 2021. Entities must submit detailed schedules of tasks and deadlines to the Financial Services Supervisory Authority and the Central Bank, with non-compliance subject to measures under Financial Services Law No. 393.