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.

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Calle Ayacucho esquina Mercado - Teléfono: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz – Bolivia EXTERNAL CIRCULAR La Paz, December 23, 2020 CIEX No. 59/2020 FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES MANAGEMENT TO: PARTICIPANTS IN THE INTEGRATED PAYMENT SETTLEMENT SYSTEM SUBJECT: INTEROPERABILITY OF ELECTRONIC CHANNELS AND 24/7 OPERATIONS FOR THE PROCESSING OF PAYMENT ORDERS

Gentlemen:

The Central Bank of Bolivia (BCB), within the framework of its regulatory powers over the national payment system, regulated the provision of the Electronic Fund Transfer Order (OETF) service to accounts throughout the financial system through the connection of entities to the Deferred Settlement Module (MLD) or to a Clearing and Settlement Chamber1.

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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