By Dr. Olivia Bennett | Chief Editor, Business | May 19, 2026

Chile’s ‘Tarjeta de Coordenadas’ Phase-Out Delayed: Who Can Still Use It and What Changes Await

SANTIAGO, Chile — In a move that has relieved both consumers and financial institutions, Chile’s Comisión para el Mercado Financiero (CMF) has extended the deadline for eliminating the tarjeta de coordenadas—a physical card used for digital authentication in electronic payments—until August 1, 2026. Originally scheduled for elimination in 2025, the decision comes after widespread criticism from banks, merchants, and customers who argued the transition to newer authentication methods was too abrupt and left many vulnerable to financial disruptions.

The tarjeta de coordenadas, a small plastic card containing a series of numbers used to verify transactions, has been a cornerstone of Chile’s digital payment system for over a decade. However, as cybersecurity threats—particularly those enabled by artificial intelligence—have surged, regulators have pushed for stronger authentication methods like Autenticación Reforzada de Clientes (ARC), or Strong Customer Authentication (SCA). The delay provides banks and consumers additional time to adapt to these changes while maintaining access to a familiar and widely used tool.

For millions of Chileans who rely on this system for daily transactions—from utility payments to online shopping—the extension offers critical breathing room. But it also raises important questions: Who can still use the tarjeta de coordenadas? Which banks have already phased it out? And what happens when it finally disappears? Here’s what you need to know.

Who Can Still Use the Tarjeta de Coordenadas?

As of May 2026, the tarjeta de coordenadas remains active for most Chilean customers, though its availability is being gradually reduced by financial institutions. The CMF’s decision to extend the deadline does not mean the card will be indefinitely available—rather, it provides a structured timeline for its elimination. Here’s how it works:

1. Customers with Existing Cards: If you already have a tarjeta de coordenadas issued by your bank, you can continue using it for electronic payments and authentication until your bank notifies you of its discontinuation. The CMF mandates that banks must give at least 60 days’ notice before stopping support for the card (CMF Official Notice). This means if your bank plans to phase it out in early 2026, you’ll receive a heads-up by late 2025.

2. New Customers: Banks are no longer issuing new tarjetas de coordenadas to customers. If you open a new account or apply for a card after the original 2025 deadline, you will not receive one. Instead, you’ll be enrolled in alternative authentication methods, such as:

• Biometric verification (fingerprint or facial recognition)
• One-Time Passwords (OTP) sent via SMS or email
• Digital tokens or apps (e.g., mobile banking authentication)
• Hardware tokens (USB or NFC-enabled devices)

3. Vulnerable Groups: The CMF has acknowledged that some segments of the population—particularly seniors, low-income individuals, and those with limited digital literacy—may face challenges adapting to new authentication methods. While the extension provides more time, banks are encouraged to offer additional support, such as:

• Extended customer service hours for assistance
• In-person training sessions at bank branches
• Simplified alternative authentication options

Bank-Specific Deadlines: Who’s Moving Fastest?

Not all banks are on the same timeline. Some have already begun phasing out the tarjeta de coordenadas, while others are waiting until the final 2026 deadline. Here’s a snapshot of the current landscape based on verified sources:

Why Was the Deadline Extended? Security Risks and Consumer Pushback

The original 2025 deadline for eliminating the tarjeta de coordenadas was part of Chile’s broader push to modernize its financial infrastructure and align with European Union regulations on Strong Customer Authentication (SCA), which require two-factor verification for electronic payments. However, the CMF faced significant resistance from multiple stakeholders:

“The transition to new authentication methods was too abrupt and left many customers—particularly those in rural areas or with limited access to smartphones—without viable alternatives.”

Key concerns included:

• Fraud Risks: While the tarjeta de coordenadas is more secure than static passwords, it is still vulnerable to theft or interception. Newer methods like biometrics or hardware tokens are considered more robust.
• Digital Divide: Not all Chileans have access to smartphones or the internet required for alternative authentication methods.
• Merchant Compatibility: Some small businesses and online platforms were not prepared to accept newer authentication methods, risking disruptions for customers.
• Consumer Confusion: Many customers were unaware of the impending change and feared losing access to their accounts.

The CMF’s decision to extend the deadline reflects a balance between security upgrades and consumer protection. “Our priority is to ensure a smooth transition that doesn’t leave anyone behind,” said a CMF official in an August 2025 statement (Official Press Release). “This extension gives banks and customers the time they need to adapt without compromising security.”

What Happens Next: The Road to August 2026

With the new deadline set for August 1, 2026, here’s what to expect in the coming months:

1. Banks Will Notify Customers

If your bank plans to discontinue the tarjeta de coordenadas, you will receive official communication at least 60 days in advance. This notice will include:

• Your new authentication method (e.g., biometric login, OTP, or app-based token)
• A deadline for activating the new method
• Customer service contact information for assistance

2. Testing and Training Period

Banks are expected to roll out test phases for new authentication methods in the second half of 2026. This will allow customers to familiarize themselves with the process before the final cutoff. Some banks may also offer in-person workshops at branches to help customers transition.

3. Final Phase-Out

By August 1, 2026, the tarjeta de coordenadas should no longer be accepted for electronic payments or authentication by any bank in Chile. However, some banks may continue to honor it for a short grace period if technical issues arise.

4. What If You Don’t Act?

If you ignore your bank’s notifications and fail to activate a new authentication method, you risk:

• Temporary account locks if you attempt to use the old card after the cutoff.
• Limited access to online banking or electronic payments until you update your authentication.
• Potential security vulnerabilities if you continue using an outdated method.

Alternative Authentication Methods: What Are Your Options?

As the tarjeta de coordenadas phases out, Chilean banks are rolling out a variety of alternative authentication methods. Here’s a breakdown of what’s available:

Who Is Affected Most? Understanding the Impact

The transition away from the tarjeta de coordenadas will have varying impacts across different groups:

Global Context: Chile’s Move Aligns with International Trends

Chile is not alone in phasing out traditional authentication methods. Across the globe, financial regulators are pushing for stronger security measures to combat AI-driven fraud and synthetic identity theft. The European Union’s Strong Customer Authentication (SCA) rules, which require two-factor verification for electronic payments, have set a precedent for Chile’s reforms.

In the United States, the FTC has warned about the rise of deepfake fraud, where criminals use AI-generated voices or videos to impersonate victims. Similarly, in the UK, Open Banking initiatives require enhanced authentication for secure data sharing. Chile’s move to ARC (Autenticación Reforzada de Clientes) reflects these global trends, positioning the country at the forefront of financial security innovation.

What You Can Do Now: Preparing for the Transition

If you use the tarjeta de coordenadas, here’s how you can prepare for the upcoming changes:

Frequently Asked Questions

1. Will I lose access to my bank account if I don’t switch?

No, but you may experience temporary limitations. Banks are required to provide alternatives, and your account will not be closed. However, you may need to visit a branch or contact customer service to reactivate access if you ignore notifications.

Next Steps: Where to Find Official Updates

The CMF and individual banks will continue to provide updates on the tarjeta de coordenadas phase-out. Here’s where to stay informed:

• Comisión para el Mercado Financiero (CMF) Official Website
• Banco Estado
• Banco de Chile
• Santander Chile
• Scotiabank Chile