Nowadays, the use of credit or debit cards is very common and necessary. This payment method offers various facilities and even some incentives, as in the case of credit cards. However, being widely used, it also carries certain risks, such as the increase in cybercrime. It is important to be alert and take security measures to protect our financial data at all times.
Given this, a few days ago the Superintendence of Banking, Insurance and AFP (SBS) issued some significant changes for users who use cards, these modifications have been made official through the official newspaper El Peruano.
Card usage regulations: what have changed?
The SBS made an amendment to Resolution No. 02286-2024 relating to transactions carried out with physical and non-physical cards in addition to the Cybersecurity Regulations and the use of mobile wallets.
Given this, it is specified that users who carry out operations with cards physically will have to present the card chip or its digital representation, in addition to a secret key. “For card-present operations, two factors are required, where the first is the card chip or its digital representation. The second factor can be a secret key (PIN) or another factor established by the Superintendency,” the normal reads.
On the other hand, when operations are carried out digitally, physical card data must be presented. “The second factor may be a dynamic card verification code or other online verifiable factor required of the user within the framework of the EMV 3DS standard, except in cases of exemption provided for in article 20 of the Cybersecurity Regulation,” it is specified.
Is it valid to charge an extra fee if I pay by credit card?
As established by the National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi), the Consumer Protection and Defense Code states that commercial establishments that charge an additional fee for the use of credit cards are required to inform customers of this situation as soon as they enter the premises.
In accordance with current regulations, it is essential that consumers are duly informed about any additional charges they may incur when using their credit cards in commercial establishments.
“In the event that the supplier differentiates the price of the product or service based on the payment method, such as Credit cards or others, said information must be made known to the consumer, prominently, in a visible and accessible manner in the premises or commercial establishment through posters, notices or other similar. In the event of non-compliance by the supplier, consumers cannot be forced to pay additional sums, and the price set for the product or service must be respected,” establishes the Article 7 of the Consumer Protection and Defense Code.
Source: Larepublica
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