New Credit Card system in Chile

No more worrying about falsified signatures, as of today a new system came into place regarding the use of credit cards in Chile. Now, if you want to buy something with a credit card you must have a 4-digit secret code called a PinPass. The reason for this change is to help prevent credit card fraud which is good both for the card holder and businesses.
The only other country in the world with this special system is Australia. Source (in Spanish): Las Últimas Noticias (a local newspaper).

Below I have some frequent questions about this new system in Chile:

Is it a new credit card?
No, it’s the same one you already have.

How can a get the PinPass or secret password?
Each bank has their own way of giving the code. With some you will have to get it online, with others via the ATM machine and others via a call center. Check with your local bank.

When can you start using the PinPass?
As of today (14 July 2009) some major companies will start using this system including Lider supermarkets, service stations such as Copec, Shell and Terpel as well as the SalcoBrand pharmacies. The idea is to have all of the 60,000 stores and restaurants with this new system by mid August.

How does this system work?
The moment that you buy anything with a credit card, the saleperson will ask you to confirm the amount of purchase and then to type in your PinPass number. Once the transaction has been completed, you will receive a receipt as proof of purchase (via the credit card machine).

Can I continue to use the traditional credit card system?
There will be a transition period where you will be able to purchase both with the PinPass system as well as the traditional sign the dotted line way. In about 3 months time you will only be able to purchase using the PinPass system.

Can I purchase products overseas using my secret number?
No, the only other country with this system is Australia so if you are overseas, you will continue using the traditional signature system.

Do additional cards have a different PinPass number?
Yes, if a partner or other family member has an additional card for your account, they will have their own PinPass number.

Does this have any additional cost for the user?
No, it is the same as before though now a safer way of purchasing.


My only question is what will happen to foreigners visiting the country when they make a purchase. Will they need to obtain their own PinPass number? How will they do this?

If I find out, I will let you know. If anyone else happens to know the answer, please leave a comment below.

Check out our following page for information about Money in Chile.

How much the President earns

Did you know that the President of Chile currently earns $7,326,180 (Chilean pesos) a month?

How do I know?
A Government Transparency law has recently come into effect where each public sector from the Government to City Councils needs to allow the public to freely access information about everything administrative. This includes finding out how much everyone gets paid and where their tax-paying money goes, to what has been sold and bought and to/from who and for how much. You can learn interesting tidbits like the Carpenter at the Palacio Cerro Castillo, the presidential palace in Viña del Mar, has been working there since the 1st June 1992 and earns $478.304 a month.

If you want to check out who earns what in the Government of Chile, check out: http://www.presidencia.cl/transparencia/ (in Spanish)

For those that know Spanish, it's a part of the Gobierno Transparente Ley 20.285 – sobre acceso a la información pública.

On the local city council’s website I saw the signature of the Mayor that was responsible for the ‘Noise Police’ that tell us to turn down the decibels after they receive phone calls from the bitter granny that lives on the third floor nearby, and once she has run out of stones to throw at us. It’s not our fault she goes to bed before 10pm on a Friday night! It’s not even music just a dozen or so people talking! Anyway…

I could also find out who was contracted to supply emergency power to the traffic lights in the case of a power cut. The thing is, whenever the power goes out in the office, the traffic lights on the main street just in front of us also die. So much for the emergency power supply.

A lot more interesting is seeing the latest business permits in the suburb, the names of their company and what they do etc.

My only question is why are there so many stamps on the paperwork dated 17th of this Month. That is the Friday just gone by (the law came into force the Monday after). Was it a case of “Damn, we have to put something up online before we get our hands slapped” and to make it appear like they already had some transparent system already in place?

I wonder what other interesting things I can dig up.

Do you think this law will really make things more transparent in Chile?

Tipping in Chile - Propinas