A PYMNTS Company

Chile: MoF announces measures to end Transbank monopoly on payments

By  |  April 8, 2019
The Chilean Ministry of Finance announced that measures will be taken to allow more players to enter the card payments system in the country, thus ending the de facto monopoly that Transbank has.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Felipe Larraín, the finance minister, said they hope to implement a working plan to progressively increase competition in this market. The MoF will meet with Visa, MasterCard, BancoEstado and other card issuers in Chile to achieve this.

    Pablo Correa, vice president of BancoEstado, said that “the payments system in Chile needed a modification. It’s a system that works well and has achieved quite high penetration rates, but it needed more competition.”

    Full Content: Diario Concepción

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.