{ "jurisdiction_id": "CL", "jurisdiction": "Chile", "url": "https://payments.gi/jurisdictions/chile/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 56, "source_register": 109 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/chile/#w1a-licensing-authorisation-market-access", "standing_position": "Ley Fintec (N21.521) remains the operative RPSF/SFA framework; CMF amended NCG514 on 1 June 2026, postponing SFA entry into force to July 2027; RPSF registration reached 37 operating authorisations from 335 applications as of May 2026.", "findings": [ { "finding": null, "instrument_type": "statute", "source": "https://www.bcn.cl/leychile/navegar?idNorma=1187323 (Ley 21.521)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.cmfchile.cl/portal/principal/613/w3-article-103412.html (NCG 502/559)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "statute", "source": "https://www.bcn.cl/leychile/Navegar?idNorma=1096097 (Ley 20.950)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "guidance", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2025/chile", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Safeguarding for non-bank prepaid issuers rests on statutory segregation under Ley 20.950: customer funds must be accounted for and held segregated, are ring-fenced from issuer obligations, and may not be attached for the issuer's own debts. Conduct/governance is layered via CMF NCG 502 (risk management, governance, disclosure) for Fintech Law providers, plus the financial consumer provisions of Ley 19.496/20.555 (SERNAC) and UAF AML obligations.", "findings": [ { "finding": null, "instrument_type": "statute", "source": "https://www.carey.cl/ley-20-950-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.cmfchile.cl/portal/principal/613/w3-article-74250.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "statute", "source": "https://en.wolfenson.cl/derecho-del-consumo", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement", "source": "https://coinfomania.com/cryptocurrency-regulations-in-chile/", "source_url": null, "source_tier": "4", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w2-stablecoins-digital-money", "standing_position": "Chile's Fintech Law 21.521 defines 'virtual financial assets'/cryptoassets (excluding money) and assigns crypto intermediaries to the CMF perimeter, while stablecoins used as a payment method fall under Banco Central de Chile (BCCh) prudential rules when issued locally by CMF-supervised entities. The stablecoin-as-payment-rail framework is still being built out via pending BCCh standards. Separately, the BCCh moved its CBDC work to an applied/proof-of-concept phase from June 2025 (wholesale focus).", "findings": [ { "finding": null, "instrument_type": "statute", "source": "https://www.elibrary.imf.org/view/journals/002/2024/042/article-A003-en.xml", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "policy", "source": "https://www.bcentral.cl/en/areas/financial-technology-hub/central-bank-digital-currency", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "statute", "source": "https://cryptoslate.com/crypto-laws/chile-fintech-law-21521-cryptoassets/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "policy", "source": "https://www.ainvest.com/news/chile-central-bank-eyes-cbdc-...", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w3-operational-resilience-critical-infrastructure", "standing_position": "Two regimes apply: sectoral CMF cybersecurity/operational-resilience rules in the RAN (20-7 outsourcing, 20-8 operational-incident information, 20-9 business continuity, 20-10 information security & cybersecurity) for banks, their support companies, and card issuers/operators; and the cross-sectoral Framework Cybersecurity Law 21.663 (in force 1 Jan 2025) creating the ANCI and mandatory CSIRT incident reporting (3-hour initial alert) for essential-service operators including finance. The two coexist and must be harmonised.", "findings": [ { "finding": null, "instrument_type": "statute", "source": "https://www.bcn.cl/leychile/navegar?idNorma=1202434 (Ley 21.663)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://aws.amazon.com/financial-services/security-compliance/compliance-center/cl/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "guidance", "source": "https://www.anguitaosorio.cl/en/ley-ciberseguridad/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "standard", "source": "https://www.bcentral.cl/en/web/banco-central/areas/payment-system", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w4-scheme-network-compliance", "standing_position": "Interchange cap regime (0.8% credit / 0.35% debit, effective October) plus TDLC ICG No.5 scheme-conduct remedies; NCG 541 creates Sub-Acquiring Operator; Compendio III.J governs card issuance/operation.", "findings": [ { "finding": null, "instrument_type": "ruling", "source": "https://www.fne.gob.cl/en/tdlc-establece-regulaciones-especificas-...", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.vixio.com/insights/...losing-monopoly", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.garrigues.com/en_GB/new/chile-financial-market-commission-modifies-regulations-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.bcentral.cl/en/content/-/detalle/bcch-actualiza-regulacion-tarjetas-pago", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w5-payment-corridor-dynamics", "standing_position": "Domestic retail rails centre on bank account-to-account electronic transfers (Transferencias en Línea, TEF, operational since 2008), with no Pix/UPI-style central instant scheme but high digitisation. Cross-border flows run primarily over SWIFT correspondent rails (ISO 20022 migration underway). Chile sits within the LAC cross-border integration agenda (BIS/CEMLA) and is a target market for SWIFT's retail cross-border framework and stablecoin payout corridors.", "findings": [ { "finding": null, "instrument_type": "infrastructure", "source": "https://www.imf.org/-/media/files/publications/wp/2024/english/wpiea2024119-print-pdf.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "market", "source": "https://www.rapyd.net/blog/chile-payments-guide/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "scheme", "source": "https://www.swift.com/news-events/news/transforming-consumer-payments-...", "source_url": null, "source_tier": "2", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w6-industry-structure-commercial-dynamics", "standing_position": "The acquiring market opened from a Transbank near-monopoly (~98% in 2021) to a multi-acquirer model from 2020, with Transbank's share falling below ~70% as GetNet, Klap and ~20 PSPs entered. Card issuing/acceptance is dominated by Visa/Mastercard; wallets (MACH, Mercado Pago, Tenpo) are scaling, and digital-only banks (Tenpo Bank, Itaú's itú) are entering, supported by the CMF's January 2025 Financial Inclusion Strategy.", "findings": [ { "finding": null, "instrument_type": "market", "source": "https://www.vixio.com/insights/...losing-monopoly", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "infrastructure", "source": "https://www.bcentral.cl/en/sistema-de-pagos-2", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "market", "source": "https://finance.yahoo.com/news/chile-cards-payments-market-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market", "source": "https://www.rapyd.net/blog/chile-payments-guide/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w7-legal-litigation", "standing_position": "The defining payments litigation is the long-running Transbank antitrust/tariff saga: a 2005 FNE complaint and antitrust finding of dominant-position abuse, a Supreme Court ruling (Case 82.422-2021) overturning Transbank's self-regulated fee structure, and the TDLC's ICG No.5 imposing scheme-conduct remedies. A 2018 Supreme Court ruling upheld BancoEstado closing a crypto-exchange account on AML grounds.", "findings": [ { "finding": null, "instrument_type": "ruling", "source": "https://www.kansascityfed.org/documents/11143/...", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "ruling", "source": "https://www.fne.gob.cl/en/tdlc-establece-regulaciones-especificas-...", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "ruling", "source": "https://coinfomania.com/cryptocurrency-regulations-in-chile/", "source_url": null, "source_tier": "4", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/chile/#w8-merchant-acquiring-risk", "standing_position": "SII's cambio-de-sujeto mechanism (Resoluciones 69 and 94) now obliges banks and non-bank card/prepaid issuers to withhold 19% VAT on transactions with 10 named unregistered offshore betting platforms; SII disclaims this constitutes an operating authorisation.", "findings": [ { "finding": null, "instrument_type": "regulation", "source": "https://www.garrigues.com/en_GB/new/chile-financial-market-commission-modifies-regulations-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.bcentral.cl/documents/33528/115568/CapIIIJ2.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "ruling", "source": "https://www.fne.gob.cl/en/tdlc-establece-regulaciones-especificas-...", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.cmfchile.cl/portal/prensa/615/w3-article-68995.html", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w9-product-innovation-market-development", "standing_position": "Innovation is anchored by the Fintech Law's Open Finance System (Sistema de Finanzas Abiertas), regulated by CMF NCG 514 (July 2024), which mandates consent-based data sharing across banks and other providers and creates Payment Initiation Service Provider (PISP) and Information-Based Service Provider roles. Implementation has been postponed to July 2027 with greater graduality. Chile lacks a formal sandbox but uses Open Finance supervised testing; the BCCh runs a CBDC PoC and a spot Bitcoin ETF listed on the Santiago exchange (July 2024).", "findings": [ { "finding": null, "instrument_type": "regulation", "source": "https://www.cmfchile.cl/portal/principal/613/w3-article-82752.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulation", "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/chile/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "guidance", "source": "https://www.legal500.com/guides/chapter/chile-fintech/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "pilot", "source": "https://www.bcentral.cl/en/areas/financial-technology-hub/central-bank-digital-currency", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w10-consumer-protection-app-fraud", "standing_position": "Consumer protection rests on Ley 19.496 (CCPA) enforced by SERNAC, reinforced by the 'Sernac Te Protege' reform giving SERNAC sanctioning powers. Card/electronic-fraud reimbursement is governed by Ley 20.009 (fraud-liability limitation, with fast 5-working-day refund for claims up to 35 UF), amended by Ley 21.673 (May 2024) which tightened anti-'autofraude' procedures and shifted some responsibility to customers; CMF NCG 538 added authentication requirements. Fraud complaints surged in 2024.", "findings": [ { "finding": null, "instrument_type": "statute", "source": "https://www.carey.cl/en/sernac-begins-the-process-of-monitoring-compliance-with-law-no-20009-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "statute", "source": "https://ironvest.com/blog/how-chilean-banks-can-meet-ley-21-673-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "statute", "source": "https://www.hgomezgroup.com/chile/chile-legal-brief-bill-signed-to-strengthen-consumer-rights/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "statute", "source": "https://blog.investchile.gob.cl/consumer-protection-chile", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w11-aml-cft-financial-crime", "standing_position": "sentinel. Chile's AML/CFT framework centres on the Unidad de Análisis Financiero (UAF) created by Ley 19.913 (2003), the FIU receiving suspicious transaction reports (ROS) from obliged entities; Fintech Law registrants including PISPs are obliged reporting entities. Chile is a GAFILAT member adhering to FATF standards and is not on the FATF strategic-deficiency list. (Position carried from Sentinel feed; no original illicit-finance analysis performed.)", "findings": [ { "finding": null, "instrument_type": "regulation", "source": "sentinel.https://www.enaer.cl/en/compliance-3/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": "Chile's AML/CFT architecture rests on Ley 19.913 (2003, creates the Unidad de Análisis Financiero/UAF) and Ley 20.393 (2009, autonomous corporate criminal liability for money laundering, terrorist financing and bribery). Chile is a GAFILAT member, last underwent its 4th-round FATF/GAFILAT mutual evaluation (on-site Jan 2020, report 2021), and is not currently on the FATF grey or black list. A 2025 UNCAC Cycle II review found continued gaps in international cooperation and integrity legislation.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — Chile", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: sourcing-thinness", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: legal-gap", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Enforcement: Chilean Public Prosecutor's Office / Chilean Police — Banco Santander Chile employee and 17 co-suspects", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-002)", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": "Enforcement: Chilean Public Prosecutor's Office / Chilean Police — Organized copper-theft and smuggling network", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-003)", "source_url": null, "source_tier": "2", "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/chile/#w12-correspondent-banking-settlement-access", "standing_position": "High-value settlement via BCCh LBTR (RTGS) + ComBanc clearing house; Nov 2025 consultation under Ley 21.641 proposes extending RTGS account access to non-bank financial entities.", "findings": [ { "finding": null, "instrument_type": "infrastructure", "source": "https://www.bcentral.cl/en/sistema-de-pagos-2", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "consultation", "source": "https://www.bcentral.cl/en/content/-/detalle/prensa/nota-de-prensa/consulta-acceso-lbtr-entidades-financieras-no-bancarias", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "infrastructure", "source": "https://openknowledge.worldbank.org/...content", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "consultation", "source": "https://chocale.cl/2025/11/...lbtr/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/chile/#w13-commercial-intelligence-fintech", "standing_position": "Crypto-asset service providers remain integrated into the Ley Fintec CMF registration perimeter; SII has separately layered crypto-specific tax-reporting obligations (Resoluciones N113/N114, DJ1963/DJ1964) onto exchanges since August 2025.", "findings": [ { "finding": null, "instrument_type": "commercial_event", "source": "https://miranda-intelligence.com/en/fintech-chatter/mexico-fintech-chatter-december-22-2025/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://www.fintechfutures.com/venture-capital-funding/toku-lands-48m-series-a-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://finance.yahoo.com/news/chile-cards-payments-market-...", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://miranda-intelligence.com/en/fintech-chatter/mexico-fintech-chatter-december-22-2025/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] } ] }