Emission and Operation of Payment Cards with Fund Provision, Accord No. 1870-05-141204

A "Payment Card Fund Provision" is any physical device which has an identification system with a fund provision account opened by the card's emissor, whose the purpose is to credit money deposited in such fund. The cards will only be used as payment instrument through the affiliated entity networks belonging to their respective systems.  

The emissors are obligated to communicate the decisions they make on emissions and distributions of said card. In case of moving forward with this transaction, these cards should credit a paid capital of no less than 25 Foment Units, an amount which approximates $960 USD. Lastly, the emissors should inform through electronic or easy access physical mediums the available balance of cards and any other commissions or surchages made to the client. 

Document Details

Title (Non-English): 
Emisión y Operación de Tarjetas de Pago con Provision de Fondos Acuerdo No 1870-05-141204
Document Type: 
Document Topic: 
Doument Author (Entity): 
Authoring Country: 
Originating Country or Trade Block: 
Issue Status: 
Year of Document: 
2014
Date of Document: 
Wednesday, January 1, 2014
Document Authors: 
Central Bank of Chile
Language (This Document): 
Spanish

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