SGDB No. 006/2018: Procedure for No Objection to New Electronic Payment Services or Instruments

BCB-DGO.VUC
BANCO CENTRAL DE BOLIVIA
ESTADO PLURINACIONAL DE BOLIVIA

EXTERNAL CIRCULAR
La Paz, February 05, 2018
SGDB No. 006/2018
FROM: GENERAL MANAGEMENT
FINANCIAL ENTITIES MANAGEMENT
PARTICIPANTS IN THE INTEGRATED PAYMENT SETTLEMENT SYSTEM

SUBJECT: PROCEDURE FOR NO OBJECTION TO NEW ELECTRONIC PAYMENT SERVICES OR INSTRUMENTS

TO:

Dear Sirs and Madams:

Within the framework of Article 11 (Other payment operations) of the Regulation on Payment Services, Electronic Payment Instruments, Compensation and Settlement, approved by BCB Board Resolution No. 134/2015 of July 28, 2015, and its modifications, the BCB must issue a no-objection in cases where entities covered by this regulation require the incorporation of any service or Electronic Payment Instrument (EPI) into their operations.

For this purpose, the following procedure is provided for strict compliance:

1. The entity shall issue a note to the General Management of the BCB with a description of the new service or EPI, requesting no-objection.

2. The aforementioned note must contain at a minimum the following points:
   a) Name of the payment service or instrument; b) General functional description; c) Security features; d) Associated processes and procedures (affiliation, authentication, information processing, operational flow, interoperability, etc.); e) Channels through which the instrument or service will be provided; f) Contingency and operational continuity plans; g) Dissemination and training tasks.

3. The Issuing Entity shall respond to the entity or request complementary information.

4. In the event that the BCB requires complementary information, the entity shall submit it for the corresponding analysis.

5. The BCB shall send a written note from the General Management communicating to the entity the no-objection or objection to the provision of the service, with the respective technical justification.

6. Once the response is received, the entity shall request authorization from the Financial System Supervision Authority - ASFI, attaching the BCB's no-objection as a supporting document.

Sincerely,

CCL/CAQ/A~/P~ e.c. Archivo

Calle Ayacucho esquina Mercado - Teléfono: (591-2) 2409090 - Fax: (591-2) 2661590 www.bcb.gob.bo - bancocentraldebolivia@bcb.gob.bo - La Paz - Bolivia