PayRetailers has secured entry into Chile after receiving authorisation from the Comisión para el Mercado Financiero (CMF) to continue conducting cross-border acquiring activities.
The payment service provider will be able to operate under full compliance under the latest regulatory framework ordered by the Central Bank of Chile, enforced by the CMF.
The latest regulatory updates ensure that payment service providers, such as PayRetailers, are conducting cross-border activities under the provisions of Chapter III.J.2 of the Compendium of Financial Regulations.
Financial regulations in Chile were amended in order to outline new practices and business models for financial service companies in regard to digital payments. This comes after a surge in demand for digital payment options amongst Chilean consumers.
César Rodríguez, VP of Banking Latam at PayRetailers, said: “Receiving this authorisation from the CMF is a significant milestone that reaffirms our commitment to delivering compliant and scalable payment solutions for businesses in Chile.
“As cross-border commerce grows, businesses need a trusted partner that not only ensures seamless payment processing but also stays ahead of regulatory changes.”
PayRetailers’ regulatory approval means that merchants in Chile can continue to process international transactions while adhering to local compliance requirements.
The company has a strong track record of enabling businesses across Latin America to scale internationally, providing an infrastructure for payment processing that focuses on security, reliability, and innovation.
With authorisation, PayRetailers can continue to strengthen its presence in LatAm, enabling businesses to navigate the region’s complex payment landscapes. The company’s localised, technology-driven approach allows merchants to offer customers a range of payment options, while remaining compliant with the evolving regulatory environments across multiple jurisdictions.
“At PayRetailers, we combine deep local expertise with cutting-edge technology to empower merchants, enabling them to expand globally with confidence,” continued Rodríguez.
“This approval further solidifies our role in shaping the future of digital payments in Latin America, ensuring that businesses can operate efficiently while meeting evolving regulatory requirements.”
