Shinkansen, a pioneering Chilean fintech, has secured a landmark approval from the country's Central Bank to establish a new Low-Value Payment Clearing House. This pivotal development positions the company to directly challenge the existing infrastructure and introduce a new wave of innovation to the national payments ecosystem. The move promises to reshape how money is transferred between banks, cooperatives, and other financial entities in Chile.
A New Era for Chilean Payments
The Central Bank's approval of Shinkansen's operational regulations is a critical milestone, enabling the company to compete with the bank-owned Automated Clearing Center (CCA). This move mirrors the opening of the card acquiring market once dominated by Transbank, promising to foster innovation and competition in account-to-account payments. The company, which received its initial authorization two years ago, now plans to launch its new infrastructure in the second half of 2026.
The Vision for a 'Chilean Pix'
Co-founder and CEO Leo Soto aims to develop a system comparable to Brazil's successful Pix platform, where Chile will have "nothing to envy." The goal is to modernize a system that has stagnated, enabling seamless payments using just a phone number or national ID instead of complex bank details. This would represent the most significant evolution in Chilean digital payments since instant transfers were introduced in 2008.
Shinkansen contends that a new, independent player is essential for progress, as the current bank-owned monopoly structure stifles innovation. As a modern, cloud-native fintech, the company is positioned to offer a more agile and efficient infrastructure to all market participants. The ultimate objective is to expand instant payment capabilities to everyday uses like retail purchases and automated bill payments.
Building on a Proven Foundation
While navigating the multi-year regulatory process, Shinkansen has built a robust parallel business automating corporate treasury and payments. This service, which uses the same core technology as the future clearing house, has provided a crucial real-world proving ground for their platform. The B2B solution is already operational in Chile, Colombia, Mexico, and Peru, serving around 100 corporate clients.
The success of this corporate division underscores the platform's scalability and reliability, having already processed over US$10 billion in transactions. Currently handling a monthly volume of approximately US$1 billion, the technology has demonstrated its capacity to manage high-value financial operations securely. This existing track record provides a solid foundation and significant credibility for Shinkansen's ambitious plans to enter the national payment infrastructure market.
The Central Bank's approval marks a transformative moment for both Shinkansen and the broader Chilean fintech industry. By challenging the long-standing monopoly in payment processing, the company is set to inject much-needed competition and innovation into the market. With a proven technological backbone and a clear vision for a more modern payment system, Shinkansen is well-positioned to redefine financial transactions in Chile.