Central Bank of Chile publishes its 2025 Payment Systems Report focused on digital payment growth and emerging regulatory challenges

The Central Bank of Chile published the fourth edition of its 2025 Payment Systems Report, outlining recent trends and challenges in payment instruments, financial market infrastructures and new technologies. The report highlights the rapid expansion and diversification of digital payments and provides a medium- to long-term assessment of the potential benefits, risks and challenges associated with further growth in digital asset markets. The report’s first chapter describes the last decade’s growth in digital payments as more actors enter the industry, while the second notes that retail payments are increasingly being processed through specialised infrastructures. The third chapter looks ahead to how a larger digital asset market could affect the payments ecosystem. At the report’s launch seminar, Central Bank President Rosanna Costa underscored the importance of interoperability, security, robustness and efficiency, pointing to sustained growth in digital payments as measured by transactions per person and the number of merchants accepting cards, and framing the key challenge as ensuring regulation evolves alongside new business models while safeguarding financial stability. Financial Policy Division General Manager Claudio Raddatz emphasised the need for a robust regulatory and supervisory framework and effective coordination among the public and private sectors and financial regulators, with panels covering cross-border payments innovation and global stablecoin trends and regulatory possibilities. The report is available on the Central Bank of Chile’s website, and the launch event video is expected to be published on the institution’s YouTube channel.