translated from Spanish: Minister of Finance announced a plan to put an end to the monopoly of Transbank

The Finance Minister, Felipe Larraín, announced on Thursday a plan of work that aims to open up the market of the cards, so that the Transbank company no longer have the monopoly of the sector.
The initiative seeks to bring together banks, means of payment Transbank and issuers of cards.
According to said Larrain, “there is a plan so that, for example, there may be an operator that comes from outside, a change in the ownership structure of Transbank”.
In addition, assured that the Executive is “echoing and acting according to what has determined our maximum authority on free competition”.
The initiative – that it would begin to plan starting this month – would be a reduction in costs both for SMEs and for customers.
“We want to do it in a gradual way, in a way that is not irruptiva, but we definitely want to move forward,” said the Secretary of State.
Association of banks assessed announced Larraín in this regard, the Association of banks and financial institutions (Abif), welcomed the announcement by the Minister Larraín, and indicated that this improvement to the system of payments “will strengthen competition in the market “payment, with the consequent benefits that this will involve different actors – cardholders, merchants and issuers, among others”.
“It is important that these changes to the system are carried out orderly and collaborative way among the different public and private stakeholders, thus making an effective and efficient transition to a four-part scheme,” Abif said in a statement.
On the other hand, since Banco Santander said they want to “modernize the payment system in Chile, where there is still much to do.” We are determined to facilitate the lives of the people by multiplying the scope of electronic payment to all Chileans and avoiding dependence on cash”.
“The challenge is that any entrepreneur, merchant or businessman may have its own machine to offer cards to their customers.” A more secure system that is available to everyone in every corner of the country without distinction”, they added. 
Is worth to remember that Santander has 25 percent of the TransBank shares, but at the end of last year, announced his intention to leave this society which is now on sale for independence in order to further customize their products.

Original source in Spanish