November 28, 2022 - The Financial Market Commission (CMF) begins the publication of a new monthly statistical report titled "Issuance of Non-Banking Payment Cards with Provision of Funds." Issuers of such cards are special corporations authorized by the Commission for this procedure.
These cards allow their holder or bearer to use the balance deposited in a Fund Provision Account to purchase goods, pay for services, or settle other payment obligations in entities affiliated to the respective system.
The new statistics are available on the CMF website and consist of the following series:
- Active cards held by cardholders at the end of each month by type of person and institution.
- Cards with registered transactions during the month by type of person and institution.
- Number of transactions carried out during the month by type of person and institution.
- Number and amount of transactions carried out during the month by type of person and institution.
- Amount of transactions carried out during the month by type of person, operation, and institution.
This new information is complemented by the Technical Note "Payment Cards with Provision of Funds in Chile: origin and development of the activity." Said document presents background information and unpublished statistical data on the size of the sector; its participants and evolution; and access and use of such instruments in Chile. It also states, among other things, that the enactment of the Means of Payment Act has contributed significantly to the development of payment cards with provision of funds in the country.
In a little less than five years, payment cards with provision of funds have reached significant levels of activity, with an important participation of issuers and non-bank operators.
