Regulation for the Provision of Mobile Financial Services, JM-12-2011


This regulates the minimum aspects which banks and other credit card issuers should follow when extending mobile financial services. The Administration Council shall approve the business model used to develop the institution’s mobile financial service unit. Entities should implement all recommendations made to by the council to improve the model.

This business model should include, at the very least, the institution’s strategy, operational scheme, affiliation ties to mobile services, and maximum number of allowed monthly operations. It should also include a thorough description of the technological platforms used to guarantee the confidentiality, integrity and availability of financial information.

All institutions must have a customer service infrastructure which allows users to receive proper assistance and support. When the business model includes the use of banking agent services, banks should hold a contract with these parties. The contract must guarantee that financial entities will have permanent access to their clients’ information. Banking agents commit to protect customer’s confidentiality and comply with all policies established by the regulator.

Financial institutions will be responsible for the transactions made through mobile financial services.

Document Details

Title (Non-English): 
Reglamento para la Prestacion de Servicios Financieros Moviles, JM-12-2011
Document Type: 
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Date of Document: 
Wednesday, October 5, 2011
Document Authors: 
Banking Regulator of Guatemala
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