On June 27, 2025, Law No. 7,503 was enacted, which establishes the comprehensive regulatory framework for the National Payment System (SNP) in Paraguay. This legislation repeals the previous Law No. 4595/2012 and seeks to strengthen security, efficiency, innovation, financial inclusion and competition in the country's payment ecosystem.

The new law confers on the Central Bank of Paraguay (BCP) expanded powers that will have a significant impact on the payment processing sector, acquiring and the fintech ecosystem in general. These new powers will allow the incorporation of operations and actors that until now were not contemplated in the regulatory framework, in accordance with the guidelines established by the specific regulations. Likewise, the BCP will be able to regulate and sanction emerging activities, strengthening supervision and control over new forms of financial services.

However, the scope and criteria that the BCP will adopt to exercise these powers are still pending, which will be defined in the regulations to be issued in the near future.

Key aspects of the new Law

  • Purpose and scope: the law regulates the organization, operation, supervision and recognition of the systems of payment, custody and settlement of securities, as well as the use of electronic means and the management of guarantees. The SNP covers all services and systems for the payment, registration, custody, clearing and settlement of securities, including their administrators, participants and suppliers that operate wholly or partially in the national territory.
  • Enforcement authority: the Central Bank of Paraguay (BCP) is designated as the enforcement authority, with broad powers to regulate, supervise, control and sanction SNP actors. The BCP may establish norms, standards, access requirements, governance criteria, security measures, interoperability and interconnection, as well as applicable tariffs and maximum ceilings.
  • Recognition and operation of systems: to be recognized, the securities payment, custody and settlement systems must meet minimum requirements, such as having at least three participants, general rules of adhesion and operation approved by the BCP, and settle transfer orders in accounts opened in the BCP. Recognition is formalized by administrative act and official publication.
  • Finality and irrevocability of transactions: transfer orders accepted by the systems are irrevocable and legally enforceable, even in the event of suspension of payments proceedings of the participants. The accounts used for settlement in the BCP are unseizable.
  • Suspension of payment procedures: the law establishes clear rules on the effects of the suspension of payments, protecting the finality of operations and the right of separation over the guarantees constituted in the system, even against bankruptcy or liquidation measures.
  • Electronic means and truncation of checks: the legal and evidentiary validity of acts carried out by electronic means is recognized, including the electronic presentation of checks for compensation, equating it to physical presentation.
  • Custody and transfer of securities: the representation of negotiable securities by means of book entries, the transfer of rights and the constitution of encumbrances is regulated, establishing the enforceability against third parties from the time of registration with the Securities Depository.
  • Regime of misdemeanours and sanctions: the law classifies serious and minor offences, establishing a sanctioning regime for natural and legal persons, with sanctions that include warnings, fines, suspension, disqualification and revocation of authorisations, depending on the seriousness and recidivism of the offences.
  • Implementation of infrastructure by the BCP: the BCP will be able to implement a system of electronic clearing and settlement of payments and a securities depository, with free simple credit transfers for users.
  • Final provisions: the law enters into force the day after its publication and maintains the validity of the previous regulation until its repeal or modification. The supplementary application of the Organic Law of the BCP, the General Law of Banks, the Securities Market Law, the Civil Code and the Law on the Defense of Competition is established.