Draft Regulation PR-DSP-008: Modifications to External Regulatory Circular DSP-465

MODIFICATIONS TO EXTERNAL REGULATORY CIRCULAR DSP-465 OF MARCH 31, 2026

In accordance with numeral 8 of Article 8 of the Code of Administrative Procedure and Contentious Administrative, the Draft Regulation “By which the External Regulatory Circular DSP-465 ‘Interoperability of Low-Value Immediate Payment Systems’ of March 31, 2026 and its Annexes are modified” is published for comments, for a term of fifteen (15) calendar days counted from the day following the date of its publication.

Publication Date: October 2, 2026
Deadline Date and Time: October 17, 2026, 5:00 p.m.

In compliance with what is established in Law 1581 of 2012, by which general provisions for the protection of personal data are issued, and Decree 1377 of 2013 which partially regulates it, incorporated into the Single Regulatory Decree 1074 of 2015, the information provided to the Bank of the Republic will be protected by the personal data processing policy available at https://www.banrep.gov.co/es/transparencia/proteccion-datos-personales in the section “Personal Data Protection – Habeas Data”.

OBJECTIVE AND JUSTIFICATION OF THE DRAFT REGULATION

The draft regulation is presented, which aims to modify certain provisions of External Regulatory Circular DSP-465 and its Annexes, of which the following stand out: i) update of the classifications of Immediate Payment Orders and/or Fund Transfers and incorporation of the definition of payment to legal persons, ii) incorporation of the “Payment Reference” field, iii) inclusion of the definition of “Value-Added Services”, iv) strengthening of rules for the blocking of Keys in fraud events, v) incorporation of rules regarding service availability and the certification process of the LVBPS, vi) update of Annex 2 “Compensation and Settlement Processes”, vii) update of Annex 3 “Customer Experience” to include guidelines for innovation in Customer Experience, viii) update of Annex 5 “Operational and Messaging Standards for the Processing of Immediate Payment Orders and/or Fund Transfers (PO/FT)”, ix) update of Annex 6 “Manual for the use of the seal/mark” to include additional rules on the use of the Bre-B seal/mark, and x) the inclusion of Annex 8 “Participants who do not offer Payment Means” to incorporate the rules applicable to their participation in Bre-B.

LEGAL BASIS

• Article 104 of Law 2294 of 2023
• External Resolution No. 6 of October 31, 2023
• External Regulatory Circular DSP-465

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DRAFT REGULATION
PUBLICATION FOR COMMENTS

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EXTERNAL REGULATORY CIRCULAR DSP-465
Date: Friday, October 2, 2026
Subject 18: Interoperability of Low-Value Immediate Payment Systems.

This Circular regulates External Resolution No. 6 of October 31, 2023 issued by the Board of Directors of the Bank of the Republic (JDBR) on the interoperability of low-value payment systems that provide services related to Immediate Payment Orders and/or Fund Transfers.

The Circular will be mandatory for the Administrators of Immediate Low-Value Payment Systems (EASPBVI) that process Intra-LVBPS and Inter-LVBPS Operations.

The terms appearing in uppercase in this Circular, regardless of whether they are expressed in singular or plural, have the meaning attributed to them in External Resolution No. 6 of 2023 and in this Circular.

1. Definitions

a. Acquirer: Are the agents defined in numeral 2 of article 2.17.1.1.1. of the Single Regulatory Decree 2555 of 2010 and article 2.11.14.3. of Decree 1068 of 2015, or the norms that substitute, modify, or regulate them.

b. Certification: Process by which the BR confirms that an EASPBVI, or an EASPBVI confirms that a Participant, meets the requirements and technical specifications defined for the Key Management and Resolution processes, the processing of Immediate Payment Orders and/or Fund Transfers, as well as the other requirements and technical specifications to guarantee Interoperability.

c. Timestamp: Date and time information that EASPBVIs and Participants must include in the messages required to carry out, among others, the Key Management and Resolution processes, and the Compensation and Settlement of Immediate Payment Orders and/or Fund Transfers.

d. Payment Service Provider: Are the agents defined in numeral 20 of article 2.17.1.1.1. of the Single Regulatory Decree 2555 of 2010, or the norms that substitute or modify them.

e. Time-Out: Maximum time to complete or decline the process.

f. Payment Reference: Numeric or alphanumeric code(s) associated with an Immediate Payment Order and/or Fund Transfer for any of the classifications established in numeral 3.3. of this Circular, which allows identifying the good and/or service that is the object of this.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

The Bank of the Republic (BR) will define, within the framework of the Immediate Payment Interoperability Committee, the operational and technical guidelines to incorporate the Payment Reference(s) and the schedule for its implementation.

g. Immediate Payment Orders and/or Fund Transfers: Instruction given in the LVBPS by a Sender on any day and hour to debit resources from their Payment Means and credit them to the Payment Means of a Beneficiary in real time, according to what is established in numeral 3 of this Circular.

h. Value-Added Service: Services or functionalities complementary to the processing of Immediate Payment Orders and/or Fund Transfers for any of the classifications established in numeral 3.3. of this Circular.

2. Interoperability in Immediate Low-Value Payment Systems

EASPBVIs must comply with the technical and operational processes indicated in this Circular to process Immediate Payment Orders and/or Fund Transfers. In the regulations of the Immediate Low-Value Payment Systems (LVBPS), EASPBVIs must require that Participants comply with these provisions, for which they may develop one or more of their functions through Payment Service Providers under the same terms established in the Single Regulatory Decree 2555 of 2010 or the norms that substitute or modify them.

3. Characteristics of Immediate Payment Orders and/or Fund Transfers

3.1 Characteristics

a. Immediate Payment Orders and/or Fund Transfers that meet the following characteristics must be processed through the Centralized Directory (DICE) and the Operational Mechanism for Settlement (MOL): Only one Payment Means is used to debit and one or several Payment Means to credit the resources.

b. It is initiated by the introduction of a Key or the reading and/or use of a QR Code.

c. It is initiated by the Sender on any day and hour.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

d. It is processed within a maximum period of twenty (20) seconds. The parameters for compliance with this provision are detailed in Annex 5 of this Circular.

e. Its maximum value does not exceed that established in numeral 3.2 of this Circular.

Immediate Payment Orders and/or Fund Transfers that exceed the maximum value referred to in literal e. of this numeral cannot be processed through the centralized modules administered by the BR, DICE or MOL. They also cannot use the Keys referred to in literal l. of article 2 of External Resolution No. 6 of 2023, nor the Bre-B seal/mark referred to in Annex 6 of this Circular.

3.2 Maximum Value of the Immediate Payment Order and/or Fund Transfer

The maximum value of each Immediate Payment Order and/or Fund Transfer will be equivalent in current legal currency to one thousand (1,000) Basic Value Units – UVB.

Participants may define a maximum value lower than the one previously stated or other types of limits, exclusively to originate an Immediate Payment Order and/or Fund Transfer, for example, number of operations originated per day, provided that such limits respond to their risk management policies. These limits cannot be different from those that the Participant establishes for payment orders or fund transfers made between their clients or between their clients and the clients of other entities issuing specific payment means.

The Participant must inform its Clients, clearly and visibly, at the moment of the origination of the Immediate Payment Order and/or Fund Transfer, that this limit has been established by it. Participants may also allow the configuration of limits by Clients, for example, by value or number of operations.

3.3 Classification of Immediate Payment Orders and/or Fund Transfers

In accordance with article 8 of External Resolution No. 6 of 2023 of the JDBR, Immediate Payment Orders and/or Fund Transfers are classified as follows:

a) Payment to Natural Person: Immediate Payment Order and/or Fund Transfer in which the Beneficiary is a natural person who may or may not have the quality of merchant.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

b) Payment to Legal Person: Immediate Payment Order and/or Fund Transfer in which the Beneficiary is a legal person who may or may not have the quality of merchant. Legal persons may be of public or private nature. Senders of Immediate Payment Orders and/or Fund Transfers are natural persons and legal persons of public or private nature.

For the incorporation of other classifications of Immediate Payment Orders and/or Fund Transfers, the BR may take into account the recommendations of the Immediate Payment Interoperability Committee.

3.4. Standards and parameters of Access Technologies that allow initiating Immediate Payment Orders and/or Fund Transfers

The Access Technologies that allow initiating Immediate Payment Orders and/or Fund Transfers for the classification provided in numeral 3.3. of this Circular are Keys and QR Codes. For the use of Access Technologies by Clients, Participants may integrate additional technologies compatible with the rules and standards applicable to Access Technologies and to the processing of Immediate Payment Orders and/or Fund Transfers established in this Circular.

3.4.1. Rules associated with Keys

EASPBVIs will require their Participants that the handling of Keys be subject to the following rules:

a. A Payment Means may be associated with several Keys.

b. A Key will be associated with a unique Payment Means.

c. A Key associated with a Payment Means cannot be repeated in a Federated Directory.

d. A Key cannot be repeated in the Centralized Directory.

e. The Participant must define for each Key the LVBPS through which it will carry out the synchronization for Key management processes with the Centralized Directory. The LVBPS must define the operational or technological mechanism so that Participants indicate the selected Federated Directory to synchronize information with the Centralized Directory.

f. Participants linked to more than one LVBPS that use in said systems the same classification of Immediate Payment Orders and/or Fund Transfers as provided in numeral 3.3. of this Circular, may register in the Federated Directories of each of said LVBPS all or some of the Keys of the shared classification.

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EXTERNAL REGULATORY CIRCULAR DSP-465
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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

Participants who decide to register the same Key in the Federated Directories of each of said LVBPS must guarantee that the update of the information derived from Key management processes is carried out first in the Federated Directory of the LVBPS chosen to synchronize with the Centralized Directory. Once the Participant receives a positive response from said Federated Directory, it must update the information immediately in the Federated Directories of the other applicable LVBPS.

g. Clients cannot edit or personalize the content of the Key.

h. When a Client updates any of their data and said data is being used as a Key, the Participant must require them to carry out the Key modification process.

The EASPBVI must ensure compliance with these rules.

3.4.2. Description of Key types and their standards

The types of Keys to initiate Immediate Payment Orders and/or Fund Transfers are the following:

a. Identity document number: Refers to any of the following identification numbers of the Client registered in the linking process with the Participant where the Client has their Payment Means: citizen ID, foreigner ID, Unique Personal Identification Number (NUIP), identity card, Tax Identification Number (NIT) or passport.

b. National cell phone number: Refers to the national cell phone number(s) of the Client registered in the Participant where they have their Payment Means.

c. Email: Refers to the email(s) of the Client registered in the Participant where they have their Payment Means.

d. Alphanumeric: Refers to the Key(s) generated by the Participant where the Client has their Payment Means, which start with the @ symbol, followed by a combination of numbers and/or letters. For the generation of this/these Key(s), the Participant will use characteristic information of the Client, so that it/them is/are easy to remember. Examples of alphanumeric Keys are the following: @3191234567, @AP1234567 and @MargaritaP

e. Commercial establishment code: Refers to the identification code(s) assigned by the Acquirer(s) to the commercial establishment. Commercial establishments may have multiple codes assigned by one or several Acquirers.

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Date: Friday, October 2, 2026
Subject 18: Interoperability of Low-Value Immediate Payment Systems.

The assignment of the Commercial Establishment Code by the Acquirer must follow the structure for this type of Key provided in Table 1 of this Circular.

The LVBPS must define procedures for changing Acquirers, preserving or not the Key.

In the case of changing Acquirer while preserving the Key, the Key cancellation and registration process must be carried out according to what is provided in Annex 1 of this Circular.

These procedures cannot have a duration exceeding twenty-four (24) hours.

Keys that incorporate letters will not distinguish between uppercase and lowercase.

The options of Key types that are offered to Clients who are natural persons or legal persons who do not have the quality of merchant will be: identity document, cell phone number, email, and alphanumeric.

The options of Key types that are offered to Clients who are natural persons or legal persons who have the quality of merchant will be: identity document, cell phone number, email, alphanumeric, and commercial establishment code.

The Participant may limit the number of Keys that can be associated with a Payment Means or to a Client attending, among other criteria, security criteria.

EASPBVIs may only incorporate in their Federated Directories information about Keys taking into account the following structure:

Table 1.
Structure of Keys to initiate Immediate Payment Orders and/or Fund Transfers

Key Type	Number and type of characters	Observations
Identity Document	XXXXXXXXXX	Identity document number. Maximum 18 alphanumeric characters. Citizen ID, foreigner ID, identity card, NUIP, NIT, or Passport used for opening the Payment Means. Cannot include hyphens, spaces, or dots.
National Cell Phone Number	XXXXXXXXXX	National cell phone number. 10 numeric characters. Does not include country code and always starts with the number 3. Cannot include spaces.
Email	xxxxxxxxxxxxxxxx@xxxx.xxx.xx; xxxxxxxxxxxxxxxx@xxxx.xxx	Up to maximum 30 characters before the @ symbol and 61 characters after. Has an @ symbol just before the domain.
Alphanumeric	@xxxxxxxxxxxxxxxxxxx	Minimum 5 and maximum 20 alphanumeric characters after the @ symbol. Starts with the @ symbol, followed by a combination of letters and/or numbers. The @ symbol is only used at the beginning of the Key. The alphanumeric Key is generated by the Participant where the Client has their Payment Means. Cannot include spaces, accents, or the character ñ.
Code assigned to the commercial establishment	XXXXXXXXXX	10 numeric characters. Identification code of the commercial establishment assigned by the Acquirer. Starts with double zero (00). The following 8 digits can be numbers between 0 and 9. Cannot include spaces.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

3.4.3. Key Management Processes

EASPBVIs must incorporate in their regulation the obligation of Participants to adapt the Service Provision Channels established to carry out all Key management processes described below, following the guidelines of each process established in Annex 1 of this Circular.

a. Registration: Operation performed by the Client to choose the Key(s) and associate them with their Payment Means, prior to Client authentication under the terms defined by the Participant and authorization for the processing of their personal data.

This process must be executed even when the national cell phone number is used as the Payment Means number.

Key registration must be carried out directly and exclusively by the Client, except in the following cases:

1. Alphanumeric Key Registration: From the start of the operation of the Operational Mechanism for Settlement, Participants may assign an alphanumeric Key to the Payment Means of their Clients who are natural persons who are not merchants and register said Key in the Federated Directories, when any of the following cases occur:

i. The Participant creates a new Payment Means for the respective Client or activates a Payment Means that was inactive.

ii. The Participant links for the first time to an LVBPS, having not been previously linked to other LVBPS.

The assignment of the alphanumeric Key can only be made for active Payment Means and the registration of said Keys in the Federated Directories and the Centralized Directory must comply with the operational guidelines defined by the BR.

For the effects of this provision, a Payment Means is considered active when an operation has been carried out on it during a period of six (6) consecutive months. An operation is understood as what is provided in numeral 1.2.2. of Chapter III, Title I, Part II of the Basic Juridical Circular of the Superintendency of Finance of Colombia.

2. Registration of the Key type commercial establishment code: Participants who, by virtue of the acquiring relationship, assign commercial establishment codes to their Clients who are natural or legal persons who have the quality of merchants, may register said code(s) as Key(s) in the Federated Directories.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

b. Modification: Operation performed by the Client to modify their registered Key(s) by other Key(s) of the same type or another type, and/or the Payment Means associated with them by another Payment Means of the Participant where the Key is registered.

c. Cancellation: Operation performed by the Client to cancel the registration of the registered Key(s).

d. Portability: Operation performed by the Client to transfer their Key(s) and associate them with another Payment Means in a different Participant.

e. Blocking: Operation performed by the Client to temporarily suspend the use of the Key(s).

f. Reactivation: Operation performed by the Client to activate the use of a previously blocked Key.

g. Consultation: Operation performed by the Client to know the Key(s) they have registered in the Participant from which they carry out the Consultation.

The Participant must enable the execution of Immediate Payment Orders and/or Fund Transfers within a maximum period of two (2) hours from the moment the Client has received the successful process message of the registration, modification, portability, or reactivation of the Key. The information derived from the processes described above must be included and updated in the Federated Directory administered by the EASPBVI and in the Centralized Directory in real time.

3.4.4. Blocking and Cancellation of Keys by Participants

a. EASPBVIs must include in their Regulations that Participants must block the Keys of their Clients when:

i. They identify events or risks of fraud and impersonation in accordance with their risk administration and management systems.

ii. They receive the blocking request from the Client who is the holder of the Key.

iii. It is required according to guidelines defined by the Bank of the Republic.

b. EASPBVIs must include in their Regulations that Participants may block the Keys of their Clients when:

i. The Payment Means associated with the Key(s) is classified as inactive, according to applicable regulatory provisions.

ii. The Payment Means associated with the Key(s) is blocked.

iii. In any other event or risk different from those referred to in numeral i. of literal a., in accordance with their risk administration and management systems.

Participants must evaluate the Reactivation of Keys according to their policies and procedures.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.
c. EASPBVI must include in their Regulations that Participants may cancel the Keys of their Clients when:
i. The Payment Medium associated with the Key(s) is cancelled.
ii. Information regarding the death of the holder of the Payment Medium is received.
iii. The inactivity of the Payment Medium referred to in item i. of literal b. persists for an additional six (6) consecutive months. In this case, the Participant must inform the Client and the EASPBVI.
Additionally, Participants must inform the EASPBVI about the update so that it performs the blocking or cancellation of the Key(s) in the Federated Directory.
Once the EASPBVI are notified of the blocking, cancellation, or reactivation of a Key, they must inform the Centralized Directory in real time so that it performs the corresponding update. This will take place once the Centralized Directory enters into operation.

3.4.5. Obligations of EASPBVI regarding Keys
EASPBVI must have the necessary mechanisms to allow the processing of Payment Orders and/or Immediate Fund Transfers through Keys and incorporate in their regulations the obligation of Participants to adapt the Service Provision Channels available to initiate these operations, using Keys. EASPBVI must require in their regulations compliance with the following obligations by Participants:
a. Inform their Clients about the characteristics and uses of Keys, as well as the terms and conditions of management processes. b. Remit information on Key management processes to the EASPBVI in real time.
c. Comply with regulations related to data protection and habeas data, particularly Law 1581 of 2012, Decree 1074 of 2015, and other norms that modify, replace, add to, or regulate them, including the authorization of their Clients that allows the processing of personal data related to Keys.
d. Follow the activities defined in Annex 1 of this Circular for Key management processes.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.
3.4.6. QR Codes
EASPBVI will require their Participants to implement the functionality of generating, reading, and/or using static and dynamic QR Codes to initiate Payment Orders and/or Immediate Fund Transfers, as indicated in item 3.4.7 of this Circular. The regulation of the SPBVI must incorporate the following conditions:
a. The QR Codes used to initiate Payment Orders and/or Immediate Fund Transfers must comply with the technical standards indicated in the Basic Legal Circular issued by the Superintendencia Financiera de Colombia. b. Allow the Client to choose the Key that will be incorporated into the fields of the QR Codes to associate it with their Payment Medium.

3.4.7. Obligations of EASPBVI regarding QR Codes
EASPBVI must have the necessary mechanisms to allow the processing of Payment Orders and/or Immediate Fund Transfers through QR Codes. Likewise, they must incorporate in their regulations the obligation of Participants to adapt the Channels available to initiate these operations using QR Codes, as established below:
a. Allow the reading and/or use of static and dynamic QR Codes to initiate Payment Orders and/or Immediate Fund Transfers. b. Generate QR Codes to receive funds from Payment Orders and/or Immediate Fund Transfers, which may be static or dynamic.
c. Allow incorporating into the QR Code the Key selected by the Client and the information corresponding to the Payment Reference(s), when applicable.
EASPBVI must require their Participants that, in the generation of QR Code representations for non-commercial natural persons, the Participant's Client may only include the value of the Payment Order and/or Immediate Fund Transfer when applicable.

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4. Directories
4.1 Federated Directory
SPBVI must consult the Federated Directory for Key Resolution.

4.1.1. Obligations of EASPBVI regarding Federated Directories
EASPBVI must comply with the following obligations regarding the administration of the Federated Directory:
a. Process information following the structure indicated in this Circular. b. Update the Federated Directory once they receive information on a Key management process from a Participant according to what is established in Annex 1 of this Circular.
c. Use a connection standard based on API-REST between their Participants and the Federated Directory. The messaging format to be used must be implemented according to what is provided in Annex 5 of this Circular.
d. Have the necessary technical and operational mechanisms to validate compliance with the rules related to Keys defined in section 3.4.1. and Key management processes defined in section 3.4.3. of this Circular. e. Have continuity plans. f. Process personal data of Clients, under the terms established in Law 1581 of 2012 and other norms that modify, replace, add to, or regulate them. g. Require their Participants to have a policy for the processing and protection of personal data and with the authorization of their Clients that allows the processing of personal data required for the interoperability of SPBVI provided for in this Circular, under the terms established in Law 1581 of 2012, Decree 1074 of 2015, and other norms that modify, replace, add to, or regulate them.

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EXTERNAL REGULATORY CIRCULAR DSP-465
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Subject 18: Interoperability of Low-Value Immediate Payment Systems. h. Establish the operational procedure to be followed to receive Keys from a Participant that joins the SPBVI and to eliminate Keys from a Participant that leaves the SPBVI or so requests.
i. Maintain a minimum monthly availability level of 99.9%. The Bank of the Republic will indicate the guidelines for its calculation in CEOS DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace it.

4.1.2. Structure of the Federated Directory
The minimum information that Federated Directories must include is as follows:
a. Type of Key and Key: As provided in item 3.4.2 of this Circular, Keys may correspond to: identity document, cell phone number, email, alphanumeric, or the establishment code, as applicable.
Keys must have the structure and number of fields described in Table No. 1 of this Circular.
For the case of the national cell phone number in the structure of the Federated Directory, ten (10) fields must be enabled.
For the case of the identity document type of Key, Federated Directories and the Centralized Directory will not allow the registration of the same identity document number, even if the type of identification is different. b. Identification type and number: Identification types are classified as follows:

1. Citizen ID (C.C.).
2. Foreigner ID (C.E.).
3. Unique Personal Identification Number (NUIP).
4. Identity Card (TDI).
5. Temporary Protection Permit (PPT).
6. Tax Identification Number (NIT) without verification digit.
7. Special Stay Permit (PEP).
8. Passport Number (PAS).

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Subject 18: Interoperability of Low-Value Immediate Payment Systems.
The maximum number of alphanumeric characters for identification types is eighteen (18).
c. Type and Client names: In the case of natural persons, it corresponds to the names and surnames registered by the Client with the Participant where they have their Payment Medium. In the case of legal persons, it corresponds to the business name registered by them with the Participant where they have their Payment Medium. Names and surnames may have a maximum of forty (40) alphabetic characters each, and in the case of the legal person's business name, the number of alphanumeric characters will be a maximum of one hundred forty (140).
d. Issuing Entity Identification: Corresponds to the NIT without the verification number of the Participant where the Client has the Payment Medium or the code assigned by the BR. The maximum number of characters for the NIT or code assigned by the BR is nine (9). e. Payment Medium and associated number: Payment Mediums are the following:

1. Savings accounts,
2. Checking accounts,
3. Low-amount deposits,
4. Ordinary deposits, and
5. Inclusive low-amount deposits.
   The maximum number of characters for the number associated with the Payment Medium is thirty-four (34). f. Receiving Immediate Low-Value Payment System: Corresponds to the identification assigned to the SPBVI that each Participant selects to receive funds. g. Date and time of Key registration: Field that stores the date and time when the Key is registered in the Federated Directory under the structure defined for this field. h. Date and time of Key management processes other than registration: Field that stores the date and time when the last modification, suspension (by blocking or portability), or reactivation of the Key is performed in the Federated Directory under the structure defined for this field.
   i. Type of Key status: Indicates the activity status of the Key, according to the specifications contained in Annex 5 of this Circular.

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Federated Directories must maintain, under the terms established in article 96 of the Organic Statute of the Financial System, a record of modifications to stored Keys, including those that have been cancelled.
For the assignment of the identification of the SPBVI mentioned in literal f., the technical specifications defined by the BR must be followed.
Participants may update information in Federated Directories resulting from the update of their Clients' information in the following fields: Identification type and number, Type and Client names. They may also update the Receiving Immediate Low-Value Payment System field. The following table shows the column structure that the Federated Directory must follow, with the information described in the previous literals:
Table 2.
Federated Directory Information to be reported to the Centralized Directory When the Key is resolved in the Federated Directory and according to the "Receiving SPBVI" field, if this SPBVI is different from the originating SPBVI that is performing the Key Resolution, the Payment Order and/or Immediate Fund Transfer will be processed as an Inter-SPBVI Operation, following what is provided in Annex 2 of this Circular. ISSUING ENTITY RECEIVING SPBVI REGISTRATION MODIFICATION AND OTHER PROCESSES KEY STATUS TYPE NUMBER TYPE NUMBER TYPE NAME LEGAL PERSON FIRST NAME NATURAL PERSON SECOND NAME NATURAL PERSON FIRST SURNAME NATURAL PERSON SECOND SURNAME NATURAL PERSON IDENTIFI CATION TYPE NUMBER CODE DATE/ TIME DATE/ TIME TYPE According to what is defined for Table 1 of the Present Circular Max 18 alphanumeric characters Max 140 alphanumeric characters Max 40 alphabetic characters Max 40 alphabetic characters Max 40 alphabetic characters Max 40 alphabetic characters Max 9 numeric characters Max 34 numeric characters Max 3 alphabetic characters KEY CLIENT IDENTIFICATION PAYMENT MEDIUM

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4.2 Centralized Directory
When Key Resolution is not performed in the Federated Directory, it must be performed in the Centralized Directory.

4.2.1. Obligations of EASPBVI regarding the Centralized Directory
The Centralized Directory will interconnect only with Federated Directories and will contain exclusively the information supplied by EASPBVI to the Centralized Directory, following the minimum structure of the Federated Directory. Regarding the Centralized Directory, EASPBVI must:
a. Process inquiries and complaints filed by Clients under the terms indicated in Law 1328 of 2009, Law 1480 of 2011, the Basic Legal Circular of the Superintendencia Financiera de Colombia, or Law 1755 of 2015, and according to what is established in Law 1581 of 2012 and Decree 1074 of 2015, and other norms that modify, replace, add to, or regulate them. b. Use a connection standard based on API-REST between the Federated Directory and the Centralized Directory. The messaging format to be used must be implemented according to what is provided in Annex 5 of this Circular.
c. Have operational, technical, and security rules and standards for the development of their operations and those of their Participants, under conditions of security, transparency, and efficiency.
d. Have operational and technical rules and standards that allow the sending of Key information, Payment Mediums, and other information that must be supplied to the Centralized Directory and its subsequent consultation. e. Require their Participants to have a policy for the processing and protection of personal data and with the authorization of their Clients that allows the processing of personal data required for the interoperability of SPBVI provided for in this Circular, under the terms established in Law 1581 of 2012, Decree 1074 of 2015, and other norms that modify, replace, add to, or regulate them. f. Determine the type of Key from the Key sent by the Participant and send both data to the Centralized Directory for each Key Resolution.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems. g. Obtain the Certification of tests of the Centralized Directory, according to what is indicated in CEOS DSP-470 Subject 10: Regulation of the Centralized Directory (DICE) or those that modify or replace it. h. Update the Certification of tests of the Centralized Directory, according to what is indicated in CEOS DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace it; and obtain any additional Certification required by the Bank of the Republic to guarantee Interoperability.
i. Certify all their Participants regarding Key Resolution and management processes and any other aspect that the Bank of the Republic requires to guarantee Interoperability; and update said Certification when the Bank of the Republic requires it.
j. Inform the BR, under the terms it defines, any functional or non-functional adjustment that will be made to their SPBVI with potential impact on Interoperability, Key Resolution and management processes, or in the use of the Centralized Directory.

4.2.2. Structure of the Centralized Directory
The organization of the information that the Centralized Directory will store will follow the minimum structure of the Federated Directory.
The Centralized Directory will not store transactional information of Clients or other types of data that are not necessary for the processing of Payment Orders and/or Immediate Fund Transfers.
In the following table, the structure that the Centralized Directory will follow is shown, replicating the information reported from the Federated Directory:
Table 3.
Centralized Directory Information

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4.2.3. Synchronization Process
a. For the operation of the Centralized Directory, EASPBVI must: Supply the Centralized Directory with the Keys and associated Client information of their Participants registered in the Federated Directories. b. Consult the Centralized Directory in the event of registration or modification of a Key in their Federated Directories, to ensure that said Key is not associated with another Payment Medium. Once the Centralized Directory has performed this process, the Key may be registered in the Federated Directory of the respective SPBVI.
c. Update in their Federated Directories the Keys and associated information, according to Key management processes performed by their Participants' Clients. For this effect, they must attend to the connection standards and messaging format defined by the BR and inform these updates to the Centralized Directory.
In cases where a Participant decides to leave an SPBVI and join another one(s), or that, maintaining their link to an SPBVI, decides to simultaneously join another one(s), the SPBVI to which the Participant is joining may request the BR to perform, from the Centralized Directory, the operational procedure for the delivery of the Participant's Keys. This procedure will be carried out following the operational guidelines defined by the BR.

5. Characteristics of the Compensation and Settlement Process of Payment Orders and/or Immediate Fund Transfers
   5.1 Obligations of EASPBVI regarding Compensation and Settlement
   ISSUING ENTITY
   RECEIVING SPBVI
   REGISTRATION
   MODIFICATION
   AND OTHER
   PROCESSES
   KEY
   STATUS
   TYPE
   NUMBER
   TYPE
   NUMBER
   TYPE
   NAME
   LEGAL
   PERSON
   FIRST
   NAME
   NATURAL
   PERSON
   SECOND
   NAME
   NATURAL
   PERSON
   FIRST
   SURNAME
   NATURAL
   PERSON
   SECOND
   SURNAME
   NATURAL
   PERSON
   IDENTIFI
   CATION
   TYPE
   NUMBER
   CODE
   DATE/
   TIME
   DATE/
   TIME
   TYPE
   According to what is defined for Table 1 of the Present Circular Max 18 alphanumeric characters Max 140 alphanumeric characters Max 40 alphabetic characters Max 40 alphabetic characters Max 40 alphabetic characters Max 40 alphabetic characters Max 9 numeric characters Max 34 numeric characters Max 3 alphabetic characters KEY CLIENT IDENTIFICATION PAYMENT MEDIUM

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To carry out the Compensation and Settlement process of Payment Orders and/or Immediate Fund Transfers, EASPBVI must comply with the following:
a. Process Payment Orders and/or Immediate Fund Transfers and implement the necessary risk controls for their acceptance following what is established in Annex 2 of this Circular, only for those that have undergone the Key Resolution process. b. Use a connection standard based on API-REST, as well as the ISO 20022 messaging standard for electronic data exchange with the Operational Mechanism for Settlement by SPBVI, as well as between SPBVI in their duty to interoperate. The messaging format to be used must be implemented according to what is provided in Annex 5 of this Circular.
c. Have operational, technical, and security rules and standards for the development of their operations and those of their Participants, under conditions of security, transparency, and efficiency.
d. Require their Participants, through their Regulation, to have rules and security standards for the administration, management, prevention, and control of fraud risk. e. Comply with the maximum time of twenty (20) seconds. The technical aspects of this provision are detailed in Annex 5 of this Circular. This parameter must be complied with in at least 99.5% of Payment Orders and/or Immediate Fund Transfers originated in the SPBVI. Likewise, incorporate and require their Participants through their Regulation, compliance with the terms and conditions for the registration, control, and standard of Time Stamps according to what is provided in Annex 5 of this Circular. f. Establish monitoring mechanisms to periodically follow up on compliance with the maximum time established for the Beneficiary to receive funds in their Payment Medium. g. Implement and require their Participants to make adjustments if necessary to comply with the maximum time established for the Beneficiary to receive funds in their Payment Medium. h. Have an operational reconciliation process for Payment Orders and/or Immediate Fund Transfers. Likewise, incorporate and require their Participants through their Regulation, the terms and conditions of said process according to what is provided in Annex 5 of this Circular.

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i. Require its Participants, through its Regulations, to provision in deposit accounts the resources necessary for the settlement of Payment Orders and/or Immediate Fund Transfers in the Operational Mechanism for Settlement provided for in numeral 5.3 of this Circular.
j. Maintain a minimum monthly availability level of 99.9% in the processing of Payment Orders and/or Immediate Fund Transfers. The Bank of the Republic will indicate the guidelines for its calculation in the CEOS DSP-471 Subject 20: Regulations of the Operational Mechanism for Settlement (MOL) or those that modify or replace it. k. Obtain the Certification of tests of the Operational Mechanism for Settlement, in accordance with what is stated in the CEOS DSP-471 Subject 20: Regulations of the Operational Mechanism for Settlement (MOL) or those that modify or replace it.
l. Update the Certification of tests of the Operational Mechanism for Settlement, in accordance with what is stated in the CEOS DSP-471 Subject 20: Regulations of the Operational Mechanism for Settlement (MOL) or those that modify or replace it; and obtain any additional Certification required by the Bank of the Republic to guarantee Interoperability.
m. Certify all its Participants regarding the processing of Payment Orders and/or Immediate Fund Transfers and any other aspect that the Bank of the Republic requires to guarantee Interoperability; and update said Certification when the Bank of the Republic so requires. n. Inform the BR, in the terms defined by this, any functional or non-functional adjustment that it will make to its Low-Value Payment Systems (SPBVI) with potential impact on Interoperability, the Compensation and Settlement process, the processing of Payment Orders and/or Immediate Fund Transfers, or the use of the Operational Mechanism for Settlement.

5.2 Compensation
To carry out the Compensation of Payment Orders and/or Immediate Fund Transfers, the provisions established in Annex 2 of this Circular must be followed.

5.2.1. Grounds for rejection in the Compensation process

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During the Compensation process, before the acceptance of Payment Orders and/or Immediate Fund Transfers, the SPBVI Administrators (EASPBVI) or their Participants must reject Payment Orders and/or Immediate Fund Transfers if the risk controls established by the EASPBVI in accordance with article 2.17.2.1.17. of Decree 2555 of 2010 are not met, as well as technical and operational validations, attending to what is described in numeral 2 of Annex 5 of this Circular. The EASPBVI must define in their regulations the procedures to mitigate the occurrence of these grounds for rejection in applicable cases and in any case ensure registration and traceability when they occur.

5.3 Settlement
The Settlement of Payment Orders and/or Immediate Fund Transfers will be executed in the Operational Mechanism for Settlement in gross and real-time form.
To carry out the Settlement of Payment Orders and/or Immediate Fund Transfers, the provisions established in Annex 2 of this Circular must be followed.

5.4 Special rules
In the event that a Payment Order and/or Immediate Fund Transfer has been accepted and will not be completed within the maximum processing time due to technical, operational, or technological failures, the EASPBVI must follow the guidelines of the exception flows defined by the BR in the Operational and Services Circular DSP-471 Subject 20: Regulations of the MOL or those that modify or replace it. The EASPBVI must incorporate into their Regulations the terms and conditions for notification to Participants and their Clients as provided in Annex 5 of this Circular.

5.5 Frauds, errors, and Petitions, Complaints, and Claims related to Payment Orders and/or Immediate Fund Transfers.
The BR will define operational guidelines for the handling of frauds, errors, and petitions, complaints, and claims regarding the processing of Payment Orders and/or Immediate Fund Transfers that must be followed, considering the recommendations made by the Immediate Payment Interoperability Committee.

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The EASPBVI must incorporate into their regulations the obligation of Participants to attend to and manage petitions, complaints, and claims regarding the processing of Payment Orders and/or Immediate Fund Transfers, following what is established in Law 1328 of 2009, Law 1480 of 2011, the Basic Legal Circular of the Superintendencia Financiera de Colombia, or, failing that, Law 1755 of 2015, and other norms that replace, modify, add, or regulate them, and to comply with what is provided in Annex 4 of this Circular for the procedures for return and reversal of Payment Orders and/or Immediate Fund Transfers. The EASPBVI and their Participants must include in the financial education campaigns they conduct on Bre-B, specific material focused on the prevention of fraud and scam risks associated with Payment Orders and/or Immediate Fund Transfers.

6. CUSTOMER EXPERIENCE
   6.1. Obligations of the EASPBVI regarding Customer Experience
   The EASPBVI must require through their Regulations the following obligations from their Participants:
   a. Provide access in the Service Provision Channels that they will enable to initiate Payment Orders and/or Immediate Fund Transfers, making use of the seal/brand referred to in article 18 of External Resolution No. 6 of 2023 issued by the JDBR, following what is provided in Annex 3 of this Circular. b. Process Payment Orders and/or Immediate Fund Transfers from start to finish in a simple, secure, frictionless manner, using clear and precise language.
   c. Require the Client only the introduction of the Key or the reading of the QR Code, and, when applicable, the amount or value of the Payment Order and/or Immediate Fund Transfer for its processing and/or the information of the Payment Reference(s), following the guidelines defined by the BR.
   Participants must enable an additional space for the Client to select the Payment Medium from which resources will be debited, when this applies.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems. d. Establish a uniform procedure to process Payment Orders and/or Immediate Fund Transfers regardless of the Receiving Participant. e. Inform the Client, before confirming the Payment Order and/or Immediate Fund Transfer, the masked name of the Beneficiary, for example, as follows:
AnXXXa PXXez f. Inform the Client, through a downloadable receipt, once the Payment Order and/or Immediate Fund Transfer is completed, at minimum, the name of the Beneficiary and the information referred to in numeral 3.1.4.6. of Part I, Title III, Chapter I of the Basic Legal Circular of the Superintendencia Financiera de Colombia.

7. Bre-B Seal/Brand
   The Bre-B seal/brand may be accompanied by the brand or distinctive sign of the EASPBVI, the SPBVI it administers, and/or its Participants.
   The BR will determine the denomination and image and the terms and conditions for its use in Annex 3 of this Circular, considering the recommendations made for this effect by the Immediate Payment Interoperability Committee.

8. Immediate Payment Interoperability Committee
   8.1. Integration
   The Immediate Payment Interoperability Committee (CIPI) will operate through technical tables convened by the BR in its role as Secretary, in which the EASPBVI and entities administering low-value payment systems described in numeral 7 of article 2.17.1.1.1 of Decree 2555 of 2010, their Participants, payment service providers referred to in numeral 20 of article 2.17.1.1.1 of Decree 2555 of 2010, and other related agents may participate. Regulatory and supervisory authorities of the payment industry, among other authorities, may be invited to the technical tables.

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The Secretariat of the CIPI will determine the theme and composition of the technical tables and may issue the summons directly or through sector trade associations, seeking representativeness of the payment industry.

8.2. Functions
The functions of the CIPI are the following:

1. Recommend and/or socialize rules, operational standards, and other matters related to the Interoperability of Payment Orders and/or Immediate Fund Transfers.
2. Recommend actions to promote the development of low-value payment systems.
3. Develop studies and technical documents on the payment industry.
   The recommendations of the technical tables may contain different positions on the topics submitted to the consideration of the CIPI.

8.3. Secretariat of the CIPI
The BR will exercise the Secretariat of the CIPI. The functions of the Secretariat are the following:

1. Form, convene, and coordinate the technical tables of the CIPI as required in order to receive recommendations and/or socialize matters related to the processing and promotion of Payment Orders and/or Immediate Fund Transfers. For this effect, it will define the deadlines for their sessions and delivery of recommendations.
2. Receive the recommendations and studies of the CIPI and present them to the technical areas of the BR for their consideration and analysis, as appropriate.
3. Convene at least once a year the payment industry broadly to inform the work agenda of the CIPI and its progress.
4. Determine cases in which the topics under study or discussion are of a confidential nature and establish processes for the handling of information and participation of entities.
5. Issue the compliance policy regarding free competition for the functioning of the CIPI.
   The Secretariat will be the only channel for the dissemination of information produced in the technical tables.

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9. Implementation
   The implementation of what is established in External Resolution No. 6 of 2023 issued by the Board of Directors of the BR and in this Circular will be carried out gradually in the following phases:
   Phase 1: Within the month following the entry into force of the aforementioned Resolution, the BR will convene the Immediate Payment Interoperability Committee.
   Phase 2: Within five (5) months following the completion of Phase 1, the BR, through general regulation, will define:
   a. the standards and technical and control conditions for the timestamps for the processing of Payment Orders and/or Immediate Fund Transfers; b. the processes for operational reconciliation and notification of failure events related to the processing of Payment Orders and/or Immediate Fund Transfers;
   c. the messaging format for the Compensation and Settlement process of Payment Orders and/or Immediate Fund Transfers;
   d. the operational guidelines for the handling of frauds, errors, and petitions, complaints, and claims regarding the processing of Payment Orders and/or Immediate Fund Transfers, and e. the messaging format of the Federated Directories and the standards and technical and control conditions for the timestamps related to the registration of Keys and other events relative to their use. This, taking into consideration the recommendations made for this effect by the Immediate Payment Interoperability Committee. Phase 3: Within fourteen (14) months following the completion of Phase 2, the EASPBVI and their Participants must implement the adjustments to enable Access Technologies, Customer Experience, and, in general, all adaptations required to process Payment Orders and/or Immediate Fund Transfers. In this phase, the BR, through general regulation, will define the image and denomination of the seal referred to in article 18 of the aforementioned Resolution and its usage manual; this, taking into consideration the recommendations made for this effect by the Immediate Payment Interoperability Committee.

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Phase 4: Within two (2) months following the completion of Phase 3, the EASPBVI and their Participants must carry out the process of collection and storage of Keys attending to the guidelines defined by the BR.
Phase 5: From the completion of Phase 4, the EASPBVI and their Participants must have enabled the Key management processes, in accordance with what is established in this Circular, and will process Payment Orders and/or Immediate Fund Transfers attending to the guidelines defined by the BR. First Paragraph. The BR, through general regulation, may anticipate the start of Phases 3, 4, and 5 according to the development of the same. Second Paragraph. The EASPBVI must present to the Superintendencia Financiera de Colombia the regulations and their modifications of the SPBVI they administer during Phase 3, without this conditioning the implementation of the following phases.

10. Value-Added Services
    The EASPBVI and their Participants providing Value-Added Services must comply with the technical and operational processes indicated in this Circular to process Payment Orders and/or Immediate Fund Transfers.
    The Bank of the Republic may establish the standards and technical and operational conditions for the provision of Value-Added Services, such as payment initiation, payment requests, and e-commerce. For this effect, the BR may take into account the recommendations of the Immediate Payment Interoperability Committee.

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Annex 1
Key Management Processes
A. Key Registration Process

1. The Participant carries out the Client authentication procedure.
2. The Client requests from the Participant in whose Payment Medium they have their Key registration through one of the Service Provision Channels available to them for the provision of services related to Payment Orders and/or Immediate Fund Transfers.
3. The Participant provides information to its Clients on the options for types of Keys they can choose and the structure of each option, in accordance with what is provided in numeral 3.4.2 of this Circular.
   The Client selects only one Key in each registration process. The registration process must be carried out following the Customer Experience described in Annex 3 of this Circular.
4. The Participant obtains authorization from the Client to share the information with the Federated Directory and the Centralized Directory.
5. The Participant makes available the fields for the Client to link their Key and associate it with the chosen Payment Medium, following the standards by type of Key and the information structure defined for the Federated Directory. The Participant must validate the information, using one of the strong authentication mechanisms established in the Basic Legal Circular of the Superintendencia Financiera de Colombia.
6. The Participant sends the Key registration request to the SPBVI in which it participates so that it validates that this does not repeat in the Federated Directory:
   a. In the event that it already exists, the SPBVI communicates to the Participant the existence of the Key.

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Subject 18: Interoperability of Low-Value Immediate Payment Systems. b. In the event that it does not exist, the SPBVI sends the request to the Centralized Directory for the respective validation.
i. If the Key is not registered, the Centralized Directory registers the Key and communicates it to the SPBVI, so that it in turn registers it in its Federated Directory and informs the Participant.
ii. If the Key is registered, the Centralized Directory communicates to the SPBVI the pre-existence of the Key so that it informs the Participant.
The result of the processes described above must be informed by the Participants to the Client in real time.
7. Once the Key registration is successful, the Client can receive Payment Orders and/or Immediate Fund Transfers within the timeframe established by the Participant, which cannot exceed two (2) hours.
8. Key registration can be carried out by the Client on any day and hour.
9. To originate a Payment Order and/or Immediate Fund Transfer, the registration of the ordering Client's Key will not be required.

B. Key Modification Process

1. The Participant carries out the Client authentication procedure.
2. The Client requests from the Participant the modification of the Key or the Payment Medium associated with it, through the Service Provision Channels available for the provision of services related to Payment Orders and/or Immediate Fund Transfers.
3. The Participant makes available the options for the Client to modify their Key for another Key of the same or another type and/or modify the Payment Medium associated with the Key for another Payment Medium of the Participant where the Key is registered, following the standards defined by the type of Key.
4. The Participant sends the Key modification request to the SPBVI in which it participates so that it verifies that it is not repeated in the Federated Directory:

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Subject 18: Interoperability of Low-Value Immediate Payment Systems. a. In the event that it exists, the SPBVI communicates to the Participant the pre-existence of the Key. b. In the event that it does not exist, the SPBVI sends the request to the Centralized Directory for the respective validation.
i. If the Key is not registered, the Centralized Directory registers the Key and communicates it to the SPBVI, so that it in turn registers it in its Federated Directory and informs the Participant.
ii. If the Key is registered, the Centralized Directory communicates to the SPBVI the pre-existence of the Key so that it informs the Participant.
The result of the processes described above must be informed by the Participants to the Client in real time.
5. Once the Key and/or Payment Medium modification is successful, the Client can initiate Payment Orders and/or Immediate Fund Transfers within the timeframe established by the Participant, which must not exceed two (2) hours.
6. Key and/or Payment Medium modification requests can be made by the Client on any day and hour.

C. Key Cancellation Process

1. The Participant carries out the Client authentication procedure.
2. The Client requests from the Participant to cancel the Key through one of the Service Provision Channels available for the provision of services related to Payment Orders and/or Immediate Fund Transfers.
3. The Participant makes available the fields for the Client to cancel their Key.
4. The Participant sends the Key cancellation request to the SPBVI in which it participates.
5. The confirmation of the successful cancellation process must be communicated to the Client in real time.

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6. Key and/or Payment Medium cancellation requests can be made by the Client on any day and hour.
7. Cancellation can also be requested by the Participant in the cases indicated in numeral 3.4.4 of this Circular. In this case, the Participant must inform the EASPBVI about the incident so that it carries out the Key cancellation in the Federated Directory and requests the respective update to the Centralized Directory.
8. The Key of the non-commercial natural person that is cancelled will be released for reuse in the Federated Directory immediately.
9. In the events of Key cancellation due to change of Acquirer when the Commerce decides to keep the Key, the Acquirer performing said cancellation must allow the Key to be reused immediately. This must be contemplated in the change of Acquirer procedure that the SPBVI must create, in accordance with what is defined in letter e. of numeral 3.4.2. of this Circular.

D. Key Portability Process
The portability process can be executed once the BR issues the technical specifications for this process.

E. Key Blocking Process

1. The Participant carries out the Client authentication procedure.
2. The Client requests from the Participant to block their Key through one of the Service Provision Channels available for the provision of services related to Payment Orders and/or Immediate Fund Transfers.
3. The Participant makes available the fields for the Client to block their Key and must notify them of the terms associated with this process.
4. The Participant sends the Key blocking request to the SPBVI in which it participates.
5. The EASPBVI registers the blocking incident in its Federated Directory and requests the respective update to the Centralized Directory.

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6. The Key will be blocked for a period of up to thirty (30) business days.
7. Once the initial thirty (30) business days of the block have expired, the Customer may extend this period by an additional thirty (30) business days, or otherwise the Participant must cancel the Key.
8. The confirmation of the successful blocking process and any eventual cancellation must be communicated to the Customer in real time.
9. The block may also be requested by the Participant entity in the cases indicated in section 3.4.4 of this Circular. In this case, the Participant must inform its Customer of the situation and unblock the Key as indicated in the Key reactivation process set forth in this Annex.

F. Key Reactivation Process

1. The Participant performs the Customer authentication procedure.
2. The Customer requests the Participant to reactivate their blocked Key through one of the Service Provision Channels established for services related to Immediate Payment Orders and/or Fund Transfers.
3. The Participant provides the fields for the Customer to reactivate their Key.
4. The Participant sends the Key reactivation request associated with the SPBVI in which it participates.
5. The EASPBVI requests the respective update to the Centralized Directory:
   a. If the reactivation is successful, the Centralized Directory informs the SPBVI so that the EASPBVI records the update in its Federated Directory and informs the Participant. b. If the reactivation is not successful, the Centralized Directory informs the SPBVI so that the EASPBVI informs the Participant.
6. The confirmation of the reactivation process must be communicated to the Customer in real time, indicating that from that moment on the Key may be used.

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7. Reactivation may also be requested by the Participant entity when it has blocked the Key as established in section 3.4.3 of this Circular. In this case, the Participant must inform its Customer about the Key reactivation.

G. Key Query Process

1. The Participant performs the Customer authentication procedure.
2. The Customer requests the Participant to query the Key(s) associated with their Payment Means, through one of the Service Provision Channels established for services related to Immediate Payment Orders and/or Fund Transfers.
3. The Participant must display, in real time and as a result of the query, the following information at a minimum: the Keys that the Customer has registered with the Participant through which the query is being made and that are active or blocked, the associated Payment Means, and their registration dates.
4. The Customer may query the Key any day and at any time.

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Annex 2
Compensation and Liquidation Processes
Below, the Compensation and Liquidation processes for Immediate Payment Orders and/or Fund Transfers for Intra-SPBVI and Inter-SPBVI Operations are described.

1. Compensation and Liquidation of Inter-SPBVI Immediate Payment Orders and/or Fund Transfers.
   1.1 Payment Flow
   1.2 Description of the Compensation and Liquidation Process

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1. The Originating Participant must reserve funds in the Customer's Payment Means to guarantee the acceptance of the Immediate Payment Orders and/or Fund Transfers.
2. The Originating Participant sends the Immediate Payment Order and/or Fund Transfer to the Originating SPBVI.
3. The Originating SPBVI applies its risk controls to authorize the Immediate Payment Order and/or Fund Transfer and subsequently sends it to the Liquidation Operational Mechanism.
4. The Liquidation Operational Mechanism validates the status of the Originating and Receiving Participants' deposit accounts and reserves the Originating Participant's funds to guarantee the Acceptance of the Immediate Payment Order and/or Fund Transfer.
5. The Liquidation Operational Mechanism sends the Immediate Payment Order and/or Fund Transfer to the Receiving SPBVI, which confirms to the latter the existence of sufficient funds to guarantee the acceptance of this.
6. The Receiving SPBVI applies its risk controls to authorize the Immediate Payment Order and/or Fund Transfer and sends the payment instruction to the Receiving Participant.
7. The Receiving Participant validates the status of the Customer's Payment Means to guarantee the Acceptance of the Immediate Payment Order and/or Fund Transfer.
8. The Receiving Participant sends a message to the Receiving SPBVI, confirming the result of the validations for the compensation of the Immediate Payment Order and/or Fund Transfer.
9. The Receiving SPBVI sends a message to the Liquidation Operational Mechanism, confirming the result of the validations for the compensation of the Immediate Payment Order and/or Fund Transfer.
10. The Liquidation Operational Mechanism forwards the message from the Receiving SPBVI to the Originating SPBVI, confirming the result of the validations for the compensation of the Immediate Payment Order and/or Fund Transfer.
11. The Originating SPBVI declares the acceptance of the Immediate Payment Order and/or Fund Transfer.
12. The Liquidation Operational Mechanism executes the Liquidation of the Immediate Payment Order and/or Fund Transfer and confirms the result to the Originating and Receiving SPBVI.
13. The Originating and Receiving SPBVI confirm to the Originating Participant and Receiving Participant, respectively, that they may execute the debit and credit of resources in the Customers' Payment Means.

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2. Compensation and Liquidation of Intra-SPBVI Immediate Payment Orders and/or Fund Transfers.
2.1. Payment Flow
2.2. Description of the Compensation and Liquidation Process

1. The Originating Participant must reserve funds from the Customer's Payment Means to guarantee the acceptance of the Immediate Payment Order and/or Fund Transfer.
2. The Originating Participant sends the Immediate Payment Order and/or Fund Transfer to the SPBVI.
3. The SPBVI, in its role as Originator, applies its risk controls to authorize the Immediate Payment Order and/or Fund Transfer and subsequently sends it to the Liquidation Operational Mechanism.

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4. The Liquidation Operational Mechanism validates the status of the Originating and Receiving Participants' deposit accounts and reserves the Originating Participant's funds to guarantee the acceptance of the Immediate Payment Order and/or Fund Transfer.
5. The Liquidation Operational Mechanism forwards the Immediate Payment Order and/or Fund Transfer to the SPBVI in its role as receiver, which confirms to the latter the existence of sufficient funds to guarantee the acceptance of this.
6. The Receiving SPBVI sends the Immediate Payment Order and/or Fund Transfer to the Receiving Participant.
7. The Receiving Participant validates the status of the Customer's Payment Means to guarantee the acceptance of the Immediate Payment Order and/or Fund Transfer.
8. The Receiving Participant sends a message to the SPBVI in its role as receiver, confirming the result of the validations for the compensation of the Immediate Payment Order and/or Fund Transfer.
9. The Receiving SPBVI sends a message to the Liquidation Operational Mechanism, confirming the result of the validations for the compensation of the Immediate Payment Order and/or Fund Transfer.
10. The Liquidation Operational Mechanism forwards the message to the SPBVI in the role of Originator, confirming the result of the validations for the compensation of the Immediate Payment Order and/or Fund Transfer.
11. The SPBVI acting in the role of Originator declares the acceptance of the Immediate Payment Order and/or Fund Transfer.
12. The Liquidation Operational Mechanism executes the Liquidation of the Immediate Payment Order and/or Fund Transfer and confirms the result to the SPBVI in its role of Originator and Receiver.
13. The SPBVI confirms to the Originating and Receiving Participants that they may execute the debit and credit of resources in the Customers' Payment Means, respectively.

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Annex 3. Customer Experience

1. General Guidelines
   This Annex describes the content and requirements regarding Customer Experience that Immediate Low-Value Payment System Administrators (EASPBVI) must require from their Participants for the provision of Immediate Payment Orders and/or Fund Transfers (OP/TF) Intra-SPBVI and Inter-SPBVI.

For the provision of the service, EASPBVI must require the Participants of their SPBVI to use the terminology provided in External Resolution No. 6 of 2023 issued by the Board of Directors of the Bank of the Republic (JDBR) and in External Regulatory Circular DSP-465 of April 30, 2024 from the BR and its modifications.

The illustrations used in this document are references that seek to facilitate understanding of the Customer Experience provisions. Participants must adapt the required content according to their brand identity, digital environments, and Service Provision Channels available to provide the service, including digital co-branding channels. Likewise, Participants may include explanatory and guidance messages for their Customers that facilitate carrying out the various processes.

The rules defined in this annex will apply to the classifications defined in section 3.3 of this Circular. In any case, Participants may innovate on the Customer Experience of Immediate Payment Orders and/or Fund Transfers by complying with what is defined in section 12 of this Annex.

In cases where the use of the seal/brand is mentioned, Participants must implement it as provided in the Bre-B Use Manual.

Participants must comply with what is stipulated here, without prejudice to compliance with security and authentication requirements for their Customers, in accordance with applicable regulations.

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2. Access to Make Immediate Payment Orders and/or Fund Transfers
   SPBVI must require their Participants to enable the Bre-B Zone in the Service Provision Channels established to make Immediate Payment Orders and/or Fund Transfers.

The Bre-B Zone must be accessible from the first level or the screen immediately following the Customer authentication screen and must be identified with the image defined by the BR following its Use Manual for this purpose.

If the Participant decides to maintain other menus, submenus, or functionalities related to payments or transfers, the field where access to make Immediate Payment Orders and/or Fund Transfers is enabled must use the graphic image or name of Bre-B defined by the BR following its Use Manual for this purpose.

In the case of reading a QR Code, the Participant must enable the option to make Immediate Payment Orders and/or Fund Transfers and may use the graphic image or name of Bre-B defined by the BR following its Use Manual for this purpose.

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The Participant may enable the Bre-B Zone for its corporate legal entity Customers in their corporate portals or other Service Provision Channels established to make Immediate Payment Orders and/or Fund Transfers, following the guidelines described in this Annex.

In any case, the Participant must enable at a minimum, in their Service Provision Channels established for processing Immediate Payment Orders and/or Fund Transfers, from the first level or the screen immediately following the Customer authentication screen, the functionalities of “Payments and transfers” and “Key Processes”, and must use the graphic image or name of Bre-B defined by the BR following its Use Manual for this purpose.

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3. Bre-B Zone
The Bre-B Zone must include at a minimum the following functionalities:

1. Payments and transfers
a. With the Key b. With the QR Code:

• Read
• Generate
  c. Payments with Reference
• With the Key
• With the QR Code

2. Key Processes
a. Registration b. Modification
c. Cancellation
d. Portability e. Blocking f. Reactivation g. Query

3. Transaction History
1. History
2. Refund Request
3. Reversal Request
4. Petitions, Complaints, and Claims
5. Other functionalities (related to the Immediate Payment Orders and/or Fund Transfers service)

Participants must adapt the required functionalities according to their brand identity, digital environments, and Service Provision Channels available to provide the Immediate Payment Orders and/or Fund Transfers service, preserving the characteristics of simplicity, security, frictionlessness, and using clear and precise language. These same characteristics must be observed if the Participant includes other functionalities in the Bre-B Zone.

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4. Experience for Making an Immediate Payment Order and/or Fund Transfer using the Key
Once the Customer enters the immediate payment or transfer functionality with Key, from the Bre-B Zone, Participants must guarantee the following experience:

1. Display only the following fields:

• Key (space enabled to write the Receiving Customer's Key)
• Amount (space enabled to write the payment or transfer amount)
• Payment Reference (space enabled to write the Payment Reference), when applicable.

Participants must enable an additional space for the Customer to select the Payment Means from which the resources will be debited, when this applies.

2. Inform the Customer, before confirming the Immediate Payment Order and/or Fund Transfer, the masked name of the Beneficiary, for example, in the following manner: AnXXXa PXXez.

3. Upon completion of the Immediate Payment Order and/or Fund Transfer, the Participant must inform the Customer, through a downloadable receipt, the name of the Beneficiary, the Payment Reference, and the information referred to in section 3.2.4.6. of Part I, Title III, Chapter I of the Basic Legal Circular of the Superintendencia Financiera de Colombia, and may include the name of the SPBVI through which the Immediate Payment Order and/or Fund Transfer was made.

In the case where the Immediate Payment Order and/or Fund Transfer cannot be completed correctly, the Participant must follow what is established in Annex 2 and inform the Customer of said situation.

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5. Experience for Making an Immediate Payment Order and/or Fund Transfer with the Key in Other Menus or Functionalities
   Access to Immediate Payment Orders and/or Fund Transfers through other menus, submenus, or functionalities must be at the same navigation and access level as other options for payments and transfers, including those that do not meet the characteristics of immediacy.

The access where the initiation of Immediate Payment Orders and/or Fund Transfers is enabled must be identified with the Bre-B seal/brand, following its Use Manual for this purpose.

Once the Customer enters the payment or transfer functionality with Key, the Originating Customer must have the same experience described in section 4 of this Annex.

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6. Experience for Making an Immediate Payment Order and/or Fund Transfer using the QR Code from the Bre-B Zone
Once the Customer enters the immediate payment or transfer functionality with QR Code, through the Bre-B Zone, Participants must guarantee the following experience:

1. Enable the reading of the QR Code
1.1. Enable the field(s) to include the payment or transfer amount and/or Payment Reference(s), in case they do not contain them.

Participants must enable an additional space for the Customer to select the Payment Means from which the resources will be debited, when this applies.

2. Inform the Customer, before confirming the Immediate Payment Order and/or Fund Transfer, the masked name of the Beneficiary, for example, in the following manner: AnXXXa PXXez

3. Upon completion of the Immediate Payment Order and/or Fund Transfer, inform the Customer, through a downloadable receipt, the name of the Beneficiary, the

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Payment Reference, and the information referred to in section 3.2.4.6. of Part I, Title III, Chapter I of the Basic Legal Circular of the Superintendencia Financiera de Colombia. The downloadable receipt may include the name of the SPBVI through which the Immediate Payment Order and/or Fund Transfer was made.

4. Enable the generation of static QR Codes to receive resources from Immediate Payment Orders and/or Fund Transfers.

5. Additionally, they may include the functionality to generate dynamic QR Codes.

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7. Experience for Making an Immediate Payment Order and/or Fund Transfer using the QR Code in Other Menus or Functionalities
Access to Immediate Payment Orders and/or Fund Transfers through other menus, submenus, or functionalities using the QR Code must follow the following guidelines:

1. The access must be at the same navigation and access level as other options for payments and transfers, including those that do not meet the characteristics of immediacy.

2. This access must be identified with Bre-B as determined by the BR following its Use Manual for this purpose.

3. Participants must guarantee the same experience described in steps 1, 2, and 3 of section 6 of this Annex.

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8. Experience for Making an Immediate Payment Order and/or Fund Transfer using the QR Code in a Direct Access
In the case where the Participant has a direct access for reading the QR Code, the following experience must be guaranteed:

1. Enable the reading of the QR Code and an additional space to enter the payment or immediate transfer amount, in case it is not contained in the QR Code.

2. Participants must enable an additional space for the Customer to select the Payment Means from which the resources will be debited, when this applies.

3. Follow steps 2, 3, 4, and 5 described in section 6 of this Annex.

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9. Experience Regarding Key Processes
Participants must enable the functionality related to Key Management Processes in the Bre-B Zone, following the following indications:

1. Registration
a. Key options (space enabled to choose the Customer's preferred Key).
All types of Keys must be displayed under equal conditions and complying with what is provided in section 3.4.2. of this Circular.
i. Identity document number
ii. Cell phone number
iii. Email address
iv. Alphanumeric
v. Code of the commercial establishment assigned by the Acquirer (applies only to merchants).
b. Payment Means with which the Customer wishes to associate the Key.

Participants present the Key options based on the information registered for their Customers. In any case, the Customer may update said information following the policies established for these purposes by the issuers of the Payment Means. The Customer selects only one Key in each registration process.

2. Modification
3. Cancellation
4. Portability
5. Blocking
6. Reactivation
7. Query

Key processes must be fulfilled in accordance with what is provided in Annex 1 of this Circular.

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10. Experience regarding the consultation of transaction history
Participants must enable in the Bre-Zone the transaction history consultation functionality, complying with the following characteristics:

1. Allow the display of immediate payments and/or transfers made in the last 30 calendar days minimum.
2. Enable the options to carry out the return and reversal processes described in Annex 4 of this Circular for immediate payments and/or transfers from the last 30 calendar days.

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11. Experience regarding requests, complaints, and claims
Participants must enable in the Bre-Zone the Requests, Complaints, and Claims functionality.
This functionality must be enabled so that Clients of the Participants of the ILVPS (Immediate Low-Value Payment Systems) can file with the entity that issued their payment instrument and follow up on Requests, Complaints, and Claims related to the service of Immediate Payment Orders and/or Immediate Fund Transfers. Requests, complaints, and claims must be processed following what is established in Law 1328 of 2009, Law 1480 of 2011, the Basic Legal Circular of the Financial Superintendence, or, in its absence, Law 1755 of 2015 and other norms that modify, substitute, add to, or regulate them.

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12. Guidelines for innovation on Customer Experience
In those events where, due to the nature of the business model, the Customer experience cannot be adjusted to the guidelines established in the preceding subsections of this Annex, the ILVPS Providers (EASPBVI) and their Participants may innovate in the Customer experience, through the implementation of processes, functionalities, and mechanisms different from those provided in said subsections, including the origination, the interface, the prior sequence, the data capture to initiate the Immediate Payment Orders and/or Immediate Fund Transfers, and the mechanisms to inform their completion. In any case, the Customer experience must be simple, secure, clear, and frictionless, using precise and understandable language. In any case, the ILVPS Providers (EASPBVI) and their Participants for the processing of the Immediate Payment Orders and/or Immediate Fund Transfers must comply with the technical and operational processes defined by the BR (Bre). Likewise, they must inform the BR about these innovations prior to their implementation, according to the conditions defined by the BR within the framework of the Immediate Payments Interoperability Committee.

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Annex 4
Operational Guidelines for the Handling of Fraud, Errors, and Requests, Complaints, and Claims The operational guidelines for the handling of fraud, errors, and requests, complaints, and claims for the processing of Immediate Payment Orders and/or Immediate Fund Transfers Intra-ILVPS and Inter-ILVPS that the ILVPS Providers (EASPBVI) must require from their Participants are described.

1. General Guidelines
   For the handling of fraud, errors, and requests, complaints, and claims for the processing of Immediate Payment Orders and/or Immediate Fund Transfers, the following Return and Reversal procedures are regulated:
   1.1 The funds from the Immediate Payment Orders and/or Immediate Fund Transfers that can be subject to Return or Reversal procedures must have been previously credited to the Receiving Customer's Payment Instrument.
   1.2 The Return and Reversal procedures must be enabled in the Bre-Zone following what is established in Annex 3 of this Circular and may be enabled in other channels provided by the ILVPS Participants.
   1.3 The statuses of the return and reversal procedures are: in process or completed. These statuses must be reflected when consulting the "Transaction History" in the Bre-Zone, so that the Customer can follow up on their requests.
   1.4 In the "Transaction History" functionality of the Bre-Zone, the Immediate Payment Orders and/or Immediate Fund Transfers that are subject to a return or reversal procedure must be identified and cannot be subject to new return or reversal procedures.

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1.5 The return procedure applies to the classifications Payments between Persons and Payments to Merchants.
1.6 The reversal procedure applies to the classification Payments to Merchants.
1.7 The request for Return or Reversal procedures through the Bre-Zone does not exhaust the right of the Customer to initiate any procedure before other instances or channels provided by the Participant that issued their Payment Instrument or before other competent authorities.
1.8 The ILVPS Providers (EASPBVI) must require their Participants to inform Customers about the operational guidelines for the handling of fraud, errors, and requests, complaints, and claims for the processing of Immediate Payment Orders and/or Immediate Fund Transfers.
2. Procedure for Voluntary Return Request Initiated by the Originating Customer
An originating Customer may request the return of an Immediate Payment Order and/or Immediate Fund Transfer according to the following procedure:
2.1 The originating Customer requests the return from the Originating Participant within thirty (30) calendar days following the execution of the Immediate Payment Order and/or Immediate Fund Transfer, indicating from the "Transaction History" functionality, the transaction subject to return and the cause of this, within the following options:

• Transfer sent to incorrect receiving Customer
• Incorrect transfer amount
• Transfer sent twice
  The return request can be for the total amount of the Immediate Payment Order and/or Immediate Fund Transfer or can be partial. In the latter case, the amount of the request must always be lower than that of the original transaction, and the Originating Participant must enable a field for their Customer to enter the value for which they request the return. The Originating Participant must send a message to their Customer informing them that proceeding with the Return procedure does not guarantee a positive response to the

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Subject 18: Interoperability of Immediate Low-Value Payment Systems. request and that the response to the Return procedure is strictly voluntary on the part of the Receiving Customer.
2.2. The Originating Participant informs the Receiving Participant of the requirement through the ILVPS. The Receiving Participant will verify the status of the Payment Instrument, and in case of identifying that the Payment Instrument is cancelled, seized, blocked by judicial order, due to the death of the recipient, or another cause, they must inform through the ILVPS to the Originating Participant and this to their Customer that the transaction could not be processed because the Receiving Customer's Payment Instrument is not available, ending the Return request through this functionality.
2.3 If the Receiving Participant determines that the Payment Instrument is enabled to perform the Return, they will inform the Receiving Customer immediately of the received request, and the latter will have five (5) calendar days to inform the Receiving Participant of their decision.
2.4 If the Receiving Customer accepts to perform the Return of the funds, the Receiving Participant will immediately initiate a new Immediate Payment Order and/or Immediate Fund Transfer, identifying the transaction subject to return and debiting the funds from their Customer's Payment Instrument, provided that there are sufficient funds in the Payment Instrument.
2.5 Once the Return is finalized, immediately the Receiving Participant must inform their Customer and the Originating Participant of the operation through the ILVPS, identifying the operation subject to Return, so that the Originating Participant informs the originating Customer about the return. In the "Transaction History," it must be identified that the Immediate Payment Order and/or Immediate Fund Transfer was subject to Return, and this request must have the status "completed," both for the originating Customer and for the Receiving Customer.
2.6 In the case that the charge is partial because the funds in the Receiving Customer's Payment Instrument are not sufficient, the Receiving Participant will inform the Originating Participant through the ILVPS so that this informs their Customer and ends the procedure through the Bre-Zone. The Customer can make new claims regarding the unrestituted balance before other instances or channels provided by the Originating Participant or before other competent authorities.

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2.7 If the Receiving Customer rejects the return or does not respond within the established period, the Receiving Participant must inform said rejection to the Originating Participant through the ILVPS and this to their Customer immediately, ending the return procedure.
2.8 In the "Transaction History," it must be identified that the Immediate Payment Order and/or Immediate Fund Transfer was subject to a Return request, and this request has the status "completed," both for the originating Customer and for the Receiving Customer.
The suggested messages to use in this case are:

• Request rejected. Process completed.
• Return claim period exceeded, no response. Process completed.
• Payment Instrument not available. Process completed.
  3 Voluntary Return Procedure Initiated by the Receiving Customer In cases where the receiving Customer of a payment rejects an Immediate Payment Order and/or Immediate Fund Transfer and wishes to return it, in total or partial, the following procedure must be followed:
  3.1 The Return is initiated by the receiving Customer, with the Receiving Participant, within thirty (30) calendar days following the execution of the Immediate Payment Order and/or Immediate Fund Transfer, indicating from the "Transaction History" functionality the transaction subject to Return and the cause of this, within the following options:
• Payment/Transfer received from an unknown originating Customer.
• Incorrect payment/transfer value.
• Payment/transfer received twice.
  3.2 The Receiving Participant, once the Return order is received, will immediately initiate a new Immediate Payment Order and/or Immediate Fund Transfer, identifying it as a Return operation, debiting the funds from the Receiving Customer's Payment Instrument.

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The Receiving Participant must enable the options for their Receiving Customer to define the value to return, as follows:

• Total Return.
• Partial Return (Space to enter the value).
  3.3 The Originating Participant will verify the status of the Payment Instrument. In case of identifying that the Payment Instrument is cancelled, seized, blocked by judicial order, due to the death of the recipient, or another cause, they must inform through the ILVPS to the Receiving Participant, and this to their Customer, that the transaction could not be processed because the Originating Customer's Payment Instrument is not available, ending the Return procedure through this functionality.
  3.4 Once the Return is finalized, the Receiving Participant must immediately inform the Receiving Customer and the Originating Participant through the ILVPS, identifying the operation subject to Return, so that this proceeds to inform the originating Customer about this, ending the procedure.
  3.5 In the "Transaction History," it must be identified that the Immediate Payment Order and/or Immediate Fund Transfer was subject to Return, and this request has the status "completed."
  4 Return Procedure for Fraud
  The funds of an Immediate Payment Order and/or Immediate Fund Transfer can be subject to a Return, total or partial, when there is fraud in events other than the acquisition of products or services through electronic commerce mechanisms.
  4.1 The Originating/Receiving Participant that identifies the fraud must inform the Receiving/Originating Participant of the situation through the ILVPS Provider (EASPBVI). Participants must follow their processes for the confirmation of the fraud, including the pertinent information to the Customers. The maximum investigation time cannot exceed ten (10) calendar days.
  4.2 In the case that the fraud is confirmed, the Receiving Participant will make the return of the funds charged to the Receiving Customer's Payment Instrument within the following (2) business days after the confirmation of this. The Return will always be made provided that there are funds in the Payment Instrument to effect it.

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4.3 The Participant will verify the existence of funds in the Payment Instrument only once, and the charge can be partial in the event that these are not sufficient. According to the results of the fraud confirmation processes, the Originating/Receiving Participant can, at their own expense, make the return of the missing funds.
4.4 Once the Return is finalized, the Originating/Receiving Participant must immediately inform the originating Customer and the Receiving/Originating Participant through the ILVPS Provider (EASPBVI), identifying the operation subject to Return, so that this proceeds to inform the originating Customer about this, ending the procedure.
4.5 In the "Transaction History," it must be identified that the Immediate Payment Order and/or Immediate Fund Transfer was subject to Return, and this request has the status "completed."
In cases where it is the Customers who detect an operation they do not recognize, they must inform the Originating or Receiving Participant so that this defines if it is an Immediate Payment Order and/or Immediate Fund Transfer resulting from fraud and thus follow the procedure described above. Once the Participant is notified by their Customer, this will be responsible for processing the request and informing it during and upon completion of the procedure. 5 Return Procedure for Technological Failure The funds of an Immediate Payment Order and/or Immediate Fund Transfer can be subject to a Return, total or partial, when an operational failure in the technology occurs, identified by the Customers or by the Participants.
5.1 The Originating/Receiving Participant that identifies the technological failure must inform the Receiving/Originating Participant through the ILVPS. Participants must follow the established processes for the confirmation of the technological failure. The maximum investigation time cannot exceed ten (10) calendar days counted from the date of notification by the ILVPS.
5.2 In the case that the technological failure is confirmed, the Receiving Participant will be informed, so that this makes the Return of the funds charged to the Receiving Customer's

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Payment Instrument. The return will always be made provided that there are funds in the Payment Instrument to effect it.
5.3 In the case that the charge of the funds in the Receiving Customer's Payment Instrument is partial, the Participant responsible for the technological failure must complete the missing funds of the Payment Order and/or Immediate Fund Transfer, so that the originating Customer receives the total return of the funds subject to the failure.
5.4 If there are no funds in the Receiving Customer's Payment Instrument, the responsible for the technological failure must make the Return of the funds to the originating Customer during the next business day, after the failure is identified, and subsequently make the charge to the Receiving Customer's Payment Instrument.
5.5 In the cases of subsections 5.3 or 5.4, the Receiving Participant can verify as many times as necessary the existence of funds in the Receiving Customer's Payment Instrument, until recovering the total amount of the funds subject to Return that this assumed.
5.6 Once the Return is finalized, the Receiving Participant must immediately inform the Receiving Customer and the Originating Participant through the ILVPS Provider (EASPBVI), identifying the operation subject to Return, so that this proceeds to inform the originating Customer about this, ending the procedure.
5.7 In the "Transaction History," it must be identified that the Immediate Payment Order and/or Immediate Fund Transfer was subject to Return, and this request has the status "completed."
In cases where it is the Customers who detect an operation they do not recognize, they must inform the Originating Participant or the Receiving Participant so that this defines if it is an Immediate Payment Order and/or Immediate Fund Transfer resulting from a technological failure and follow the procedure described above. 6 Reversal Procedure When the sale of goods or services is carried out in a sale not presented through electronic commerce mechanisms, through an immediate payment order, this can be subject to a request for the total or partial reversal procedure, by the Customer. For this case, the following procedure must be applied:

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6.1 To initiate a reversal process, the originating Customer must access the Bre-Zone to the Transaction History functionality and identify the transaction subject to reversal.
6.2 The originating Customer will have up to five (5) business days following the knowledge of the occurrence of the cause to file a request for reversal of an immediate payment order with their Originating Participant, providing for this effect the following:
a. Identification of the transaction performed in the "Transaction History." b. Indication of any of the following causes:
i. Fraud
ii. Unsolicited operation
iii. Acquired product was not received
iv. Delivered product does not correspond to what was requested
v. Delivered product defective
c. Value for which the reversal is requested (total or partial).
The Originating Participant must enable the options for their originating Customer to define the value of the reversal, as follows:

• Total Reversal.
• Partial Reversal. (Space to enter the value).
  d. Record of the complaint filed with the supplier.
  6.3 The Originating Participant must receive the manifestation of the originating Customer in which they indicate the fact of having returned the good when appropriate and the support of the complaint filed with the Receiving Customer.
  6.4 The Originating Participant must send a message to their Customer informing them that proceeding with the reversal procedure will depend on the compliance with legal requirements and the evaluation that the involved parties make of these.
  6.5 In the case of not complying with what is stipulated in subsection 6.3, the Originating Participant will inform their Customer and end the process through this functionality.
  6.6 In the case of complying with what was previously stipulated, the Originating Participant will manage the Reversal request and inform said request through the ILVPS to the Receiving Participant and this in turn to the Receiving Customer.

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6.7 The Receiving Participant will initiate the Return of the payment for the value requested by the originating Customer, provided there are sufficient funds in the Receiving Customer's Payment Instrument, originating a new Immediate Payment Order and/or Immediate Fund Transfer in favor of the originating Customer. The Receiving Participant will verify the existence of funds only once, and the charge can be partial in the event that these are not sufficient. In this latter case, the Receiving Customer can originate a new Immediate Payment Order and/or Immediate Fund Transfer to reimburse the missing amount to the originating Customer.
6.8 Once the Reversal is finalized, the Receiving Participant must immediately inform their Customer and the Originating Participant of the operation through the ILVPS, identifying the operation subject to Reversal, so that this proceeds to inform the originating Customer about the Reversal.
6.9 In the "Transaction History," it must be identified that the Immediate Payment Order and/or Immediate Fund Transfer was subject to Reversal, and this request must have the status "completed," both for the originating Customer and for the Receiving Customer.
The ILVPS Providers (EASPBVI) can define through their regulations policies and rules for the efficient and timely management of Reversal requests.
The Reversal procedure for Immediate Payment Orders and/or Immediate Fund Transfers reflects the process established in Law 1480 of 2011 and Decree 587 of 2016 and the norms that substitute, modify, add to, or regulate them. The characteristics not mentioned in this procedure must follow what is disposed in the mentioned norms. 7 Treatment of Requests, Complaints, and Claims The Participants of the ILVPS Providers (EASPBVI) must attend to the requests, complaints, and claims for the processing of the Immediate Payment Orders and/or Immediate Fund Transfers following what is established in Law 1328 of 2009, Law 1480 of 2011, the Basic Legal Circular of the Financial Superintendence of Colombia, or Law 1755 of 2015 and the other norms that substitute, modify, add to, or regulate them.

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Annex 5
Operational and Messaging Standards for the Processing of Immediate Payment Orders and/or Fund Transfers (PO/FT)

1. Times
   1.1. Terms and conditions for the registration, control, and standard of
   Timestamps for the Compensation and Settlement of Immediate PO/FT

1.1.1. The clocks of the systems of the Immediate Low-Value Payment System Administrators (EASPBVI) and their Participants responsible for processing an Immediate PO/FT must maintain permanent synchronization with the Legal Time service of the National Institute of Metrology of Colombia (INM). The EASPBVI and their Participants must use the domains provided by the INM for synchronization.

1.1.2. In each new message generated within the compensation and settlement flow of an Immediate PO/FT, the EASPBVI and Participants must preserve the timestamp information coming from the immediately preceding received message. Likewise, the EASPBVI and Participants will add the corresponding new timestamps.

1.1.3. When the ISO20022 standard is used in messaging for the compensation of Immediate PO/FT, the timestamps must be incorporated according to the technical specifications defined by the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them.

1.1.4. In the case where a standard other than ISO20022 is used in the connections between Participants and the EASPBVI, the EASPBVI must ensure that timestamps are incorporated into the messaging.

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The EASPBVI and their Participants must include in the messaging the names and timestamps according to the technical specifications defined by the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them.

1.2. Maximum time for the promise of value to the Customer

1.2.1. Regarding compliance with the 20 seconds for 99.5% of Immediate PO/FT originated in the SPBVI referred to in letter d of numeral 5.1 of this Circular, the EASPBVI must consider the following parameters:

1.2.1.1. Its calculation must be performed on a weekly basis for all operations completed between Monday and Sunday.

1.2.1.2. For Intra-SPBVI operations, in order to guarantee compliance with the 20 seconds in 99.5% of operations, the EASPBVI may define with their Participants Service Level Agreements on intermediate times.

1.2.1.3. The EASPBVI must conserve and store as a minimum weekly descriptive statistics associated with the calculation of total times and intermediate times of the compensation and settlement flow of Payment Orders and/or Immediate Transfers.

1.3. Time-out of the Compensation and Settlement process

1.3.1. The Time-out applicable to the processing of an Immediate PO/FT corresponds to forty-five (45) seconds, according to the technical specifications defined by the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify, replace, or add to them.

1.3.2. The Time-out applicable to the processing of the Immediate PO/FT must be controlled in real time by the Originating SPBVI, the Operational Mechanism for Settlement, and the Receiving SPBVI, according to the technical specifications that define the BR

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1.3.3. When the defined Time-Out is met for any of the steps in the Compensation and Settlement flow of an Immediate PO/FT, the Originating SPBVI, the Operational Mechanism for Settlement, or the Receiving SPBVI, as applicable, must inform this Time-Out in the responses of the flow. The EASPBVI and its Participants in each case of exception must send a PACS.028 query message to the Operational Mechanism for Settlement in order to know the status of the transaction, according to the technical specifications that define the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them.

1.3.4. When the Time-out is declared by the EASPBVI, it must notify its Participants and the Operational Mechanism for Settlement according to the technical specifications that define the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them. The Originating Participant must immediately notify the Orderer, indicating at minimum that the transaction could not be completed because the maximum processing time was exceeded.

1.4. Terms and conditions for the registration, control, and standard of
Timestamps related to the registration of Keys in Directories and other events relative to their use

1.4.1. The clocks of the systems of the EASPBVI and their Participants responsible for Key management and resolution processes must maintain permanent synchronization with the Legal Time service of the National Institute of Metrology of Colombia (INM). The EASPBVI and their Participants must use the domains provided by the INM for synchronization.

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1.4.2. The Timestamps related to Key management and resolution processes in Federated Directories and the Centralized Directory must be incorporated into the messaging between the Federated Directories and the Centralized Directory, according to the technical specifications that define the BR in the External Operational and Services Circular DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace them.

1.4.3. In the connections between Participants and the EASPBVI, the EASPBVI must ensure that Timestamps related to Key management and Resolution processes are incorporated into the messaging.

1.4.4. Timestamps for Key Resolution

1.4.4.1. Key resolution, which constitutes one of the processes prior to the compensation and settlement flow of an Immediate PO/FT, must be executed in a maximum time of five (5) seconds counted from the moment the Participant receives the Key Resolution request from the Orderer, for 99.5% of Key Resolution requests.

1.4.4.2. The Time-out for Key resolution is ten (10) seconds and must be controlled by the EASPBVI and the Participant, according to the technical specifications that define the BR in the External Operational and Services Circular DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace them.
In the event that the Time-out materializes, the Participant must immediately notify the Customer with a message that indicates at minimum that the Immediate PO/FT could not be processed.

1.4.4.3. The EASPBVI and their Participants must store and collect the Timestamps of the Key resolution process according to the technical specifications defined by the BR in the External Operational and Services Circular DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace them.

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1.4.4.4. The EASPBVI must conserve and store, as a minimum, weekly descriptive statistics associated with the calculation of total times and intermediate times of the Key resolution process executed both in the Federated Directories and in the Centralized Directory.

1.4.5. Timestamps for Key management processes

1.4.5.1. The request for a Key management process must be carried out immediately by the EASPBVI and their Participants.

1.4.5.2. The EASPBVI and their Participants must store and collect the Timestamps for Key management according to the technical specifications defined by the BR in the External Operational and Services Circular DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace them.

1.4.5.3. The EASPBVI must conserve and store, as a minimum, weekly descriptive statistics associated with the calculation of total times and intermediate times of the Key registration management process.

2. Treatment of Exception Flows
   2.1. Guidelines for handling error codes in Compensation and
   Settlement

2.1.1. Error codes between the Operational Mechanism for Settlement (MOL) and the SPBVI
a) The list of error typologies and codes regarding the validations performed by the Operational Mechanism for Settlement (MOL) is indicated in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them. b) During the Compensation and Settlement process of Immediate PO/FT, validation errors of the Operational Mechanism for Settlement (MOL) will be reported to the SPBVI through ISO20022 messaging.

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Subject 18: Interoperability of Immediate Low-Value Payment Systems. c) For the registration of error codes within ISO20022 messaging, the technical specifications that the BR defines in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them must be followed. d) The error codes of the SPBVI towards the MOL must be transmitted immediately.

2.1.2. Error codes between the EASPBVI and the Participants
a) The error codes generated between the EASPBVI and the Participants must be transmitted through the messaging standard existing between them, and immediately. b) The EASPBVI and their Participants must adopt the list of standardized error codes in the Compensation and Settlement flows of Immediate PO/FT that the BR defines in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL), or those that modify or replace them. Only for non-standardized error events, the EASPBVI and Participants may add proprietary error codes in the messaging. The proprietary error codes of the EASPBVI must be reported by them to the BR according to the guidelines established in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL), or those that modify or replace them.

2.2. Terms and conditions for notifications of failure events to
Customers
The EASPBVI must require their Participants to comply with the following terms and conditions for notifications to Customers of events due to which the processing of a PO/FT does not end successfully:

2.2.1. Failure event notifications must be sent to Customers immediately, whether they originate directly from the Participant or are transmitted from the EASPBVI.

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2.2.2. Failure event notifications to Customers must indicate, at minimum, that the operation could not be processed. Participants may include the error code that identifies the event. When such a code is included, a basic description of the event must also be incorporated into the notification to the Customer.

2.2.3. When a Participant or an SPBVI presents unavailability that does not allow the processing of Immediate PO/FT, the following guidelines must be followed:
a) The Participant presenting the unavailability must inform its Customers, at minimum, that due to its own unavailability it cannot process Immediate PO/FT as an Originating Participant and as a Receiving Participant. The foregoing, without prejudice to compliance with information requirements or standards for the Customer, in accordance with applicable regulations. b) Participants other than the one(s) presenting unavailability must inform their Customers, at minimum, that Immediate PO/FT cannot be processed due to the unavailability of the Participant and/or the respective SPBVI, which has been reported through error codes in messaging or other communications. Participants may indicate in the message to the Customer the name of the Participant and/or SPBVI presenting the unavailability. The obligations established in this numeral must be complied with no later than September 6, 2026, following the schedule defined by the BR and presented in the Immediate Payments Interoperability Committee.

2.2.4. Initial errors that may occur when the Originating Participant applies its validations to authorize an instruction for an Immediate PO/FT and before generating its routing to the Originating SPBVI, must be managed by said Participant according to their typologies, codes, internal parametrizations, and messages to the Customer.

2.2.5. Participants have discretion to convert the error code received from an SPBVI, the MOL, or the DICE, for the purpose of communicating such errors to their Customers.

2.3. Terms and conditions for the operational reconciliation process

2.3.1. The cycles in which accounting closures and/or operational reconciliation processes are executed cannot affect the availability of immediate payment services.

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2.3.2. Procedures associated with operational reconciliation must be enabled for Participants by the EASPBVI through consultation mechanisms that allow, at minimum, filters for date and time ranges and cuts. The EASPBVI must indicate the procedure to connect or access these mechanisms.

2.3.3. The EASPBVI must indicate to their Participants to execute, at minimum, operational reconciliation processes daily every day of the week and for all transactions, regardless of their status.

2.3.4. The EASPBVI must indicate the procedure that their Participants may follow in case of finding any difference or inconsistency regarding the processed Immediate PO/FT.

2.3.5. The EASPBVI must have attention channels so that Participants can communicate in case of problems or news when consulting the necessary information sources to execute the operational reconciliation process and/or to inform news resulting from said process.

2.3.6. The EASPBVI and Participants must incorporate into their operational reconciliation process the procedure defined by the BR in the technical specifications for EASPBVI and Participants.

2.4. Guidelines for handling error codes with the Centralized Directory
The list of error typologies and codes regarding the validations performed by the Centralized Directory will be incorporated into the technical specifications that define the BR in the External Operational and Services Circular DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace them.

3. Messaging
   3.1. Standards for Directory Messaging

3.1.1. The standard for the data exchange format to be used in the API-REST type interconnection referred to in letter c. of numeral 4.1.1. of this Circular, must be JSON.

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3.1.2. The designations of the fields and encodings to be incorporated into the body of the messaging between the Federated Directories and the Centralized Directory will be those defined by the BR in the External Operational and Services Circular DSP-470 Subject 19: Regulation of the Centralized Directory (DICE) or those that modify or replace them.

3.1.3. The connection to the Centralized Directory by the EASPBVI must follow the technical specifications that define the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them.

3.2. Standards for Messaging in Compensation and Settlement

3.2.1. The standard for the data exchange format to be used in the API-REST type interconnection referred to in letter b. of numeral 5.1. of this Circular must be JSON.

3.2.2. In line with what is stated in letter b. of numeral 5.1. of this Circular regarding the use of the ISO20022 standard, the EASPBVI must implement messaging with its respective version, according to the technical specifications that define the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them.

3.2.3. The connection to the Operational Mechanism for Settlement by the EASPBVI must follow the technical specifications established by the BR in the External Operational and Services Circular DSP-471 Subject 20: Regulation of the Operational Mechanism for Settlement (MOL) or those that modify or replace them.

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Annex 6
User Manual for the seal/brand
This Annex includes the guidelines and implementation specifications for the use of the Bre-B seal/brand, developing the following aspects:
I. Objective
II. General usage guidelines
III. The Bre-B seal/brand in Digital Service Channels
IV. Presentation of the Bre-B seal/brand in the QR
V. Use of the Bre-B seal/brand accompanied by third-party images or logos
VI. Toolbox of the Bre-B seal/brand
VII. Incorrect uses of the Bre-B seal/brand.

1. Objective
   The BR determined that to identify the provision of services related to Immediate Payment Orders and/or Fund Transfers (Immediate PO/FT), a seal/brand will be available called Bre-B, written exactly as shown and read as "breve", without including spaces, variations, or changes in uppercase and lowercase letters.

Bre-B

The Bre-B seal/brand is protected by industrial property 1, since Bre-B (name and image) is registered as a trademark (verbal and mixed) before the Superintendence of Industry and Commerce - Directorate of Distinctive Signs. Registered trademarks grant the BR the exclusive right of use, as well as the faculty to prevent third parties from using them deviating from the guidelines of the Bre-B regulation. This manual has been developed with the objective that the EASPBVI and their Participants use the Bre-B seal/brand, following the guidelines and specifications established to unify the visual identity that will be used to identify, socialize, train, educate, advertise and/or promote the provision of services related to Immediate PO/FT in virtual media, 1 External Resolution of the Board of Directors No. 6 of 2023, Article 18. Seal. (...) First Paragraph. The Board of Administration will determine the name and image of the seal and may determine industrial property protection for the seal (...).

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2. General guidelines for the use of the seal/brand
   The Bre-B seal/brand (name or image) must be present in the Service Channels provided by the Participants of the SPBVI to perform Immediate PO/FT and when communication, financial education, and socialization campaigns of the services are carried out. The seal/brand may be accompanied by the logo or distinctive sign of the EASPBVI, its Participants, or both, taking into account the indications of this manual. The image of the Bre-B seal/brand is composed of a typographic composition where the uppercase "B" is slightly transformed to evoke the shape of an arrow and thus emphasize the concepts of speed, quickness, and dynamism. The color version of the Bre-B seal/brand contains a horizontal gradient from blue to electric green from left to right. This color version (horizontal gradient from blue to electric green) must be used only with solid backgrounds in white, violet (HEX #32005E, R50 | G0 | B94) or black:

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Below, the minimum allowed size for the color version (horizontal gradient from blue to electric green) of the Bre-B seal/brand is indicated:
Minimum printed size
Minimum digital size
The black and white versions of the Bre-B seal/brand are the following:
Below, the minimum allowed size for the black and white versions of the Bre-B seal/brand is indicated:
Minimum printed size Minimum digital size

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Additionally, the reserved area of the Bre-B seal/brand must be complied with and respected, where the distance of the safeguard area will be defined by the square shown in the scheme, with “x” being its lateral measure. This means that no element external to the Bre-B seal/brand image must cross this area. This applies to all versions of the seal/brand, regardless of its color:
The digital chromatic palette that will accompany the use of the Bre-B seal/brand and that must be used for all digital media, such as web pages, audiovisual content, applications, presentations, among others, is as follows:
The printed chromatic palette that must be used in graphic pieces, regardless of the type of substrate or printing mechanism where the Bre-B seal/brand is used, corresponds to the following:

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Considering the palettes mentioned, other uses of the Bre-B seal/brand will be valid, both for printed and digital pieces, in search of appropriation, as presented below:

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3. The Bre-B seal/brand in Digital Service Delivery Channels
   The Bre-B seal/brand (image) or solely its denomination must be incorporated in the Service Delivery Channels provided by the Participants of the SPBVI to initiate an Immediate Payment/Transfer Order (OP/TF), following the recommendations indicated in section 2. General guidelines for the use of the seal/brand of this manual. In the location of the Bre-B zone, the seal/brand image for use in the Digital Service Delivery Channel must not be accompanied by other images or logos. The versions of the seal/brand in solid colors such as violet (HEX #5E, R50 | G0 | B94), blue (Blue HEX #00C4FF, R0 | G196 | B255), green (HEX #00FF6D, R0 | G255 | B109), white, and black may be used only in digital channels, provided that the minimum size and solid backgrounds in white, violet (HEX #32005E, R50 | G0 | B94), or black as indicated below are maintained:
   An example of the use of this version is included:

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Note: These illustrations are references for the use of the seal/brand; therefore, the shape of the container, its location, background color, and size may vary as long as the reserved area and the minimum digital size indicated in section 2. General guidelines for the use of the seal/brand of this manual are maintained. For use in Digital Service Delivery Channels, the reserved area and the minimum digital size indicated in section 2. General guidelines for the use of the seal/brand of this manual must also be maintained for the color version (horizontal gradient from blue to electric green):

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Note: These illustrations are references for the use of the seal/brand and the presentation of a QR Code; therefore, the locations, background color, and sizes may vary as long as the reserved area and the minimum size of 5% for the Bre-B image are maintained. Even in cases of additional menus, submenus, or functionalities where the execution of Immediate Payment/Transfer Orders is enabled, only the Bre-B denomination must be included, as shown below:
Note: These illustrations are references for the use of the seal/brand; therefore, the shape of the container, its location, background color, and size may vary as long as the reserved area and the minimum digital size indicated in section 2. General guidelines for the use of the seal/brand of this manual are maintained.

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4. Presentation of the Bre-B seal/brand in the QR
   The presentation piece of the QR Code must include the color version of the Bre-B seal/brand (horizontal gradient from blue to electric green) indicated in section 2. General guidelines for the use of the seal/brand of this manual, preserving the reserved area, regardless of its substrate or printing mechanism. In any case, the Bre-B seal/brand must occupy at least 5% of the total area of the piece. Note: The illustrations are references for the use of the seal/brand and the presentation of a QR Code; therefore, the locations, background color, and sizes may vary as long as the reserved area and the minimum size of 5% for the Bre-B image are maintained. In this presentation of the QR Code, the Bre-B seal/brand may be accompanied only by the image or logo of the Acquirer and/or the SPBVI. The size of the Bre-B seal/brand must always be greater than or equivalent to that of the other image or logo included.

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Note: The illustrations are references for the use of the seal/brand and the presentation of a QR Code; therefore, the locations, background color, and sizes may vary as long as the reserved area and the minimum size of 5% for the Bre-B image are maintained. For other types of “speakers” or “tent-cards” in which Keys are displayed instead of the QR Code, the same guidelines for the use of Bre-B incorporated in this section must be followed.
5. Use of the Bre-B seal/brand accompanied by images or logos of third parties
When it is required that the Bre-B seal/brand be accompanied by one or more images or logos of third parties, these images or logos must be located to the right side or below the Bre-B seal, as appropriate, respecting the reservation indicated in item 2. General guidelines for the use of the seal/brand of this manual. The size of the Bre-B seal/brand must be greater than or equivalent to that of the other images or logos accompanying it, depending on the graphic piece in which it is applied. In case the image or logo of the Participant and the SPBVI are incorporated, the latter must be presented in the same proportion and scale. When the Bre-B seal/brand is accompanied by the image or logo of the Acquirer and/or the SPBVI horizontally, the latter must have a maximum height equal to that of Bre-B. When accompanied vertically, they must have a maximum width equal to that of Bre-B.

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Example of the Bre-B seal/brand accompanied by a single image or logo, horizontal arrangement:
Example of the Bre-B seal/brand accompanied by a single image or logo, vertical arrangement:
Example of the Bre-B seal/brand accompanied by more than one image or logo, horizontal arrangement:
Example of the Bre-B seal/brand accompanied by more than one image or logo, vertical arrangement:

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The Bre-B seal/brand may be used in the pieces designed or developed to support education, dissemination, promotion, and other communication initiatives of the Immediate Payment/Transfer service by the EASPBVI and its Participants. When the Bre-B seal/brand is accompanied by other images or logos, the guidelines and specifications indicated in this manual must be implemented and complied with. When the pieces include the distinctive image or logo of the EASPBVI or of the Participants supervised by the Superintendencia Financiera de Colombia, the provisions of Annex 1 of Chapter I of Title III of Part I of the Basic Legal Circular of said Superintendency must be complied with. Below, some examples of pieces with the use of the Bre-B seal/brand accompanied by other images or logos are shown:

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• Social media posts

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• Banners
  Web Banner

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• Advertising in stations
  5.1. General rules on the use of the Bre-B seal/brand:
  The EASPBVI and their Participants will use the Bre-B seal/brand, taking into account the following:
  5.1.1. Use the Bre-B seal/brand, including the resources of the toolbox, as established by the official documentation and this Use Manual.
  5.1.2. In the event that the Bre-B seal/brand is used by the EASPBVI, their Participants and/or their allies or third parties linked, such use must be to identify or relate the functionality and the Access Technologies that allow people in Colombia to make payments or transfers immediately and interoperably. In any case, the good or service offered by the Participant, their allies, or third parties linked must be differentiated, so as not to generate confusion among clients between the nature of the good or service offered and the Immediate Payment or Transfer of Funds Order identified with the Bre-B seal/brand.
  5.1.3. Generally, in advertising strategies, use the Bre-B seal/brand in such a way that, for clients and users, it is clearly identifiable with the functionality of immediate and interoperable payments or transfers, including their Access Technologies.

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5.1.4. Do not use expressions that, together with the Bre-B seal/brand, suggest or give the appearance that the BR or Bre-B has alliances, links, or commercial agreements with third parties, clients, or merchants, or that in any way endorse them.
5.1.5. Do not make modifications, transformations, or additions to the logo or denomination of the Bre-B seal/brand.
5.1.6. Extend the above indications on the use of the Bre-B seal/brand to their merchants, clients, allies, or third parties linked, verifying that improper uses that confuse or may confuse the public are avoided.
6. Toolbox of the Bre-B seal/brand
The toolbox is a set of resources, guidelines, and design elements that allow the correct implementation and use of this manual by the EASPBVI and their Participants. The BR will deliver the Bre-B seal/brand toolbox to the EASPBVI, who in turn will forward it to their Participants guaranteeing its proper use. In case there are updates to the toolbox, the BR will inform the EASPBVI and deliver the resources or elements that are updated.
7. Improper uses of the Bre-B seal/brand
The Bre-B seal/brand may not be subject to any of the following alterations, which are considered improper uses of the seal/brand:

• Altering the typography, size, or composition.
• Tilting, distorting, inverting, or changing the direction of any graphic element.
• Changing or inverting the colors of any graphic element.
• Rotating, turning, or animating, changing the arrangement of any graphic element.
• Adding borders or additional elements to the Bre-B seal/brand.
• Using the Bre-B seal/brand in a size smaller than allowed.
• Incorrectly using the resources delivered in the toolbox and, consequently, affecting the quality and clarity of the Bre-B seal/brand.
• Using low-contrast backgrounds.
• Excessive transparency.
  Below, some improper uses of the Bre-B seal/brand are shown:

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EXTERNAL REGULATORY CIRCULAR DSP-465
Date: Friday, October 2, 2026
Subject 18: Interoperability of Immediate Low-Value Payment Systems.

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EXTERNAL REGULATORY CIRCULAR DSP-465
Date: Friday, October 2, 2026
Subject 18: Interoperability of Immediate Low-Value Payment Systems.

Annex 7
Transitional Measures
For the purposes of this Annex, the following definition will be taken into account, regardless of whether the term is used in singular or plural:
Identifier: is that linked to a Payment Method in immediate payment services through an SPBVI, prior to the start of the operation of the Centralized Directory, and that coincides with any of the types of Keys described in item 3.4.2. of this Circular. The Phases 3, 4, and 5 mentioned in this Annex are those provided for in item 9 of this Circular. The following are the guidelines for the transitional application of some provisions of the Regulatory Circular DSP-465 and its Annexes:

1. Regarding the Keys
   1.1. During Phase 4, once the Centralized Directory is in operation, the processes for the management of registration, modification, and cancellation of Keys must be available, following the guidelines described in Annex 1 of this Circular, for Payments between Persons and Payments to Merchants. The other Key management processes described in Annex 1 of this Circular will only need to be enabled from Phase 5.
   1.2. During Phase 4, once the Centralized Directory is in operation, and during the first seven (7) months of Phase 5, Participants may enable all or some of the types of Keys to process Payments to Merchants. All types of Keys must be enabled for Payments to Merchants no later than seven (7) months after the start of Phase 5, following the schedule defined by the BR and presented in the Immediate Payment Interoperability Committee.
   1.3. The SPBVI must register in their Federated Directories the Keys of the Payment and/or Transfer of Funds Orders they process according to the classification provided in item 3.3. of this Circular. This guideline will apply during the first six (6) months after the start of Phase 5.
   1.4. In the first two (2) months of the start of Phase 5, the Participant must define for each classification of Payment and/or Immediate Transfer of Funds Orders, according

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EXTERNAL REGULATORY CIRCULAR DSP-465
Date: Friday, October 2, 2026
Subject 18: Interoperability of Immediate Low-Value Payment Systems.

to what is provided in item 3.3. of this Circular, the SPBVI through which the synchronization for the Key management processes with the Centralized Directory will be carried out. The SPBVI must define the operational or technological mechanism so that Participants indicate the selected Federated Directory to synchronize the information with the Centralized Directory. After these two (2) months have passed, the Participant must comply with the guideline of letter f. of item 3.4.1 of this Circular.
2. Regarding the QR Code
2.1. The obligations established in point 1 of item 3.4.7 of this Circular must be complied with no later than seven (7) months after the start of Phase 5, following the schedule defined by the BR and presented in the Immediate Payment Interoperability Committee.
2.2. The replacement of QR Code representations in use must be carried out up to a maximum of eighteen (18) months after the start of Phase 5 to incorporate:
a. The Bre-B image, according to the specifications of item 4 of Annex 6 of this Circular. b. The Keys, in the fields of the QR Code, according to the specifications of Table 1 of this Circular.
2.3. During the time of the replacement process referred to in the previous item, the SPBVI and their Participants must guarantee the reading of the QR Code, recognizing the specifications of Table 1 of this Circular.
2.4 All new representations of QR Codes generated from Phase 5 must include the Bre-B image, according to the specifications of item 4 of Annex 6 of this Circular, and the Keys, in the fields of the QR Code, according to the specifications of Table 1 of this Circular. In any case, only from Phase 5 can the Bre-B image be displayed in these representations.
3. Regarding the Customer Experience in the Bre-B Zone
3.1. During Phase 4, once the Centralized Directory is in operation, the only functionality that must be available in the Bre-B Zone will be that associated with the Key management processes. These processes must be enabled following what is established in item 1.1. of this Annex.

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EXTERNAL REGULATORY CIRCULAR DSP-465
Date: Friday, October 2, 2026
Subject 18: Interoperability of Immediate Low-Value Payment Systems.

3.2. The functionality for requests, complaints, and claims described in Annex 6 of this Circular must be available for Customers in the Bre-B Zone eight (8) months after the start of Phase 5.
The Return and Reversal procedures described in Annex 4 of this Circular must be implemented according to the technical specifications, conditions, and schedule defined by the BR.
In any case, Participants must manage returns, reversals, and requests, complaints, and claims through the procedures they currently have established.
3.3 Compliance with the provisions related to the Customer Experience for customers who are legal entities and the Payment Reference included in Annex 3 of this Circular must be adjusted to the schedule defined by the BR.
4. Regarding the collection and storage of Keys
During Phase 4, once the Centralized Directory is in operation, the Key registration process must follow what is established in item 9 of Annex 3 of this Circular.
The registration of Keys for Payments between Persons must be carried out directly and exclusively by the Customer, except in the case provided for in item 4.1.1 of this Annex. For Payments between Persons, the Key registration process can only be carried out from the entry into operation of the Centralized Directory in Phase 4. In order to give continuity to the Immediate Payment and/or Transfer of Funds Orders of Customers who have used immediate payment services through an SPBVI prior to the start of the operation of the Centralized Directory, the following transitional measures are designed:
4.1. Registration of Identifiers as Keys
4.1.1. Registration of Identifiers as Alphanumeric Keys
If prior to the start of the operation of the Centralized Directory the Customer has one or more Identifiers that coincide with the type of Alphanumeric Key and its structure described in item 3.4.2. and in Table 1 of this Circular, during Phase 4, the Participant may request the SPBVI to whom they have the databases of the Identifiers, to upload the Identifiers as Keys, according to the following terms:

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EXTERNAL REGULATORY CIRCULAR DSP-465
Date: Friday, October 2, 2026
Subject 18: Interoperability of Immediate Low-Value Payment Systems.

a. The registration will be carried out for Identifiers that meet the following conditions:
i. Be associated with a single Payment Method.
ii. Have been used to originate or receive at least one (1) operation in the six (6) months prior to the entry into operation of the Centralized Directory.
b. The EASPBVI will validate that the registration is carried out only for Identifiers that meet the conditions established in letter a. of this item.
c. The Identifiers will be registered as Keys in the Federated Directory and in the Centralized Directory.
d. The SPBVI must register one Identifier at a time and sequentially, following the times and operational guidelines defined by the BR. e. During the process described in this item, the application of the rule established in letter d. of item 3.4.1 of this Circular will be guaranteed. f. Participants must promptly inform the respective Customers of the Identifiers that were registered as Keys in Bre-B. g. After the registration is carried out, Customers can proceed with the other Key management processes, as established in item 1.1 of this Annex.
4.1.2. Registration of Identifiers that have not been previously registered as Keys
If prior to the start of the operation of the Centralized Directory the Customer has one or more Identifiers that coincide with the types of Key and their structure described in item 3.4.2. and in Table 1 of this Circular and did not register them as a Key during Phase 4, nor were they the subject of the registration described in item 4.1.1 of this Annex, the Participant may request the SPBVI that have the databases of the Identifiers, to upload the Identifiers as Keys in Phase 5, before the entry into operation of the Operational Mechanism for Settlement, according to the following terms:
a. The registration will be carried out for Identifiers that meet the following conditions:
i. Be associated with a single Payment Method.

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ii. Have been used to originate or receive at least one (1) operation in the six (6) months prior to the start date of Phase 5.
b. The EASPBVI will validate that the registration is made only for Identifiers that meet the conditions established in subsection a. of this section.
c. The Identifiers will be registered as Keys in the Federated Directory and in the Centralized Directory.
d. The SPBVI must register one Identifier at a time and sequentially, following the times and operational guidelines defined by the BR. e. During the process described in this section, the application of the rule established in subsection d. of section 3.4.1 of this Circular will be guaranteed. f. Participants must promptly inform their respective Clients of the Identifiers that were registered as Keys in Bre-B. g. After registration is completed, Clients may proceed with the other key management processes, as established in section 1.1 of this Annex.

4.2. Assignment and registration of alphanumeric keys for Person-to-Person Payments
Upon completion of the registration of Identifiers as Keys under section 4.1.2. of this Annex and before the entry into operation of the Operational Mechanism for Settlement, each Participant may assign an alphanumeric key to active Payment Means for which the Client did not register a Key from the entry into operation of the Centralized Directory during Phase 4 and which were also not subject to the registration of Identifiers as Keys as described in sections 4.1.1. and 4.1.2.

For the purposes of this provision, a Payment Mean is considered active when any operation has been carried out on it in the six (6) months prior to the start of Phase 5. An operation is understood as defined in section 1.2.2. of Chapter III, Title I, Part II of the Basic Legal Circular of the Superintendency of Finance of Colombia.

The assignment and registration of alphanumeric keys for Person-to-Person Payments will be carried out in accordance with the following terms:
a. The alphanumeric key must meet the structure defined for this type of Key in Table 1 of this Circular.

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b. Alphanumeric keys will be registered in the Federated Directory and in the Centralized Directory.
c. During the process described in this section, the application of the rule established in subsection d. of section 3.4.1 of this Circular will be guaranteed.
d. The BR will define the times and operational guidelines necessary for the registration of alphanumeric keys. e. After registration is completed, Clients may proceed with the other key management processes, as established in section 1.1 of this Annex.

4.3 Registration of Keys in the Centralized Directory and Update of Federated Directories.
The processes indicated in sections 4.1.1. and 4.1.2. of this Annex are exempt from what is established in subsection e. of section 3.4.1. of this Circular, and therefore each SPBVI will carry out the registration of Identifiers as Keys for the population of the Centralized Directory, according to the operational guidelines defined by the BR.

In any case, once each of these processes is completed and prior to the start of the operation of the Operational Mechanism for Settlement, when a Participant is linked to more than one SPBVI and uses in said systems the same classification of Payment Orders and/or Fund Transfers in accordance with what is provided in section 3.3. of this Circular, the Participant must guarantee that the Federated Directories of these SPBVI are updated with the applicable Keys.

5. On the promotion of Bre-B
   During Phase 3, the EASPBVI and/or their Participants may carry out education and awareness processes regarding Bre-B concerning its general characteristics. In the same Phase, the BR will define the guidelines related to the promotion strategy applicable to Phases 4 and 5, for which it may take into account the recommendations of the Committee for the Interoperability of Immediate Payments.

In these education and awareness processes, all types of Keys must be promoted on equal terms.

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6. On the testing and dry run phases prior to Phase 5
   The SPBVI must participate in the tests and dry runs associated with the Operational Mechanism for Settlement and the Centralized Directory prior to the start of Phase 5, in accordance with the times and guidelines established by the BR.

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Annex 8
Participants that do not offer Payment Means
The EASPBVI must require in their Regulations that their Participants who do not offer Payment Means, whether or not they are supervised by the Superintendency of Finance of Colombia or the Superintendency of the Solidarity Economy, comply with the regulation on the interoperability of immediate payments and, additionally, the following obligations:
a. Carry out the key management process(es) in their name from the Service Provision Channels provided by the Participant who offers Payment Means of which this Participant is a Client, or through the EASPBVI to which this Participant is linked. The Key(s) must be associated with the Payment Means of which this Participant is the owner and must include in the field "Identification of the Issuing Entity" the NIT of the Participant who does not offer Payment Means. b. When a Participant who does not offer Payment Means acts as the Beneficiary of a Payment Order and/or Immediate Fund Transfer, it must clearly and precisely inform its clients of the Key data, value, and Payment Reference, when applicable, or the possibility of reading the QR Code, in the terms of this Circular, so that the client can initiate the Payment Order and/or Immediate Fund Transfer from the Bre-B Zone of its Originating Entity.
c. When a Participant who does not offer Payment Means develops the activity of merchant aggregation, it must inform its clients, allies, and/or linked third parties, clearly and transparently, that the processing service for Payment Orders and/or Immediate Fund Transfers is provided through Bre-B, using a Key associated with the Payment Means owned by this Participant.

The EASPBVI must ensure compliance with the provisions in the aforementioned subsections.