Regulatory Alerts2018-10-01 | Circular 13/2018Added
Circular 13/2018 — Modifications to Circular 34/2010 (Card Protection)
Circular 13/2018 amends the Credit Card Rules in Circular 34/2010 to enhance security standards, mandate multi-factor authentication for transactions, and establish minimum user protection criteria. It prohibits issuers from blocking transactions based on the access medium and requires issuers to provisionally credit accounts for disputed charges within two business days. The regulation also updates definitions for acquirers, contracts, credit cards, and cardholders, and imposes specific obligations on acquirers regarding EMVCo standards and fund settlement.