CIEX No. 8/2021: Minimum Operational Security Requirements for Electronic Payment Instruments

The Central Bank of Bolivia updates the Minimum Operational Security Requirements for Electronic Payment Instruments, replacing Circular Externa CIEX No. 03/2020. The regulation mandates robust authentication mechanisms, including two-factor authentication for fund transfers and mobile wallets, and specifies security standards for electronic cards such as chip usage and contactless transaction limits. It establishes specific monetary thresholds for PIN exemptions, setting a maximum of Bs150 for contactless card transactions and Bs20 for mobile wallet balance purchases. The document also imposes obligations on issuers and payment service companies regarding data protection, fraud prevention monitoring, and user information campaigns.

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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, February 24, 2021 CIEX No. 8/2021 FROM: GENERAL MANAGEMENT FINANCIAL ENTITIES DEPARTMENT TO: FINANCIAL ENTITIES, PAYMENT SERVICE COMPANIES, ACCL S.A., EDV S.A. SUBJECT: MINIMUM OPERATIONAL SECURITY REQUIREMENTS FOR ELECTRONIC PAYMENT INSTRUMENTS

Gentlemen:

In the framework of its regulatory powers over the national payment system and in accordance with Article 27 of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement (RSPIEPCL), approved by BCB Board Resolution No. 137/2019 of 08.10.2019 and its modifications, the Central Bank of Bolivia transmits for application and compliance the update to the Minimum Operational Security Requirements for:

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Lineage: In force

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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