meta_id 3382140

On August 6, 2026, the Banco de la República issued External Regulatory Circular DSP-465 , replacing pages 18-A5-15 and 18-A5-16 of Annex 5 of the prior version of the same circular dated March 31, 2026, which governs the interoperability of immediate low-value payment systems. The circular is addressed to administrators of low-value payment systems, the Financial Superintendency of Colombia, and the Superintendency of the Solidarity Economy, and takes effect from the date of its publication. Key provisions include: Reporting of participant unavailability: The Banco de la República shall report the unavailability of Participants and/or payment systems through error codes in messaging or other communications. Participants not experiencing the outage must inform their clients that immediate payment transactions cannot be processed due to the reported unavailability, and may optionally identify the unavailable Participant or system by name. Implementation timeline: Participants must comply with the obligations in section 2.2.3 of Annex 5 according to the timeline defined by the Banco de la República and presented to the Immediate Payments Interoperability Committee, without prejudice to their ability to comply earlier, effective August 6, 2026. Failure event notifications: Payment system administrators must require Participants to notify clients immediately upon any failure event preventing completion of a payment transaction. Notifications must indicate at minimum that the transaction could not be processed and, where an error code is included, must provide a basic description of the event. Participants experiencing their own outage must inform clients that they cannot process transactions in either their originating or receiving capacity. Error handling and exception flows: Pre-routing validation errors must be handled by the originating participant using their own error codes and client messaging. Participants may convert error codes received from payment systems or related infrastructure when communicating errors to clients. Where an error occurs after acceptance of a transaction, clients must be informed that the transaction has been processed and given an estimated completion time, with ongoing status updates until resolution. Once resolved, participants must notify clients through available communication channels that the failure has been resolved and the transaction completed. Operational reconciliation: Accounting closings and reconciliation cycles must not affect the availability of instant payment services. Payment system administrators must make reconciliation procedures available to participants through consultation mechanisms supporting filters for time slots and date and time ranges. The circular took effect upon publication on August 6, 2026.