Card-Based USD-to-CLP FX Platform Seeking Processing / Banking Support

Summary

A Chile-focused FX platform needs a provider to support a card-funded USD-to-CLP model: customers pay in USD on USD-denominated credit cards and receive Chilean pesos in their own Chilean bank account. The business has run for about two years through an intermediary partner and now wants direct card processing and related payment infrastructure.

Description

A Chile-focused foreign exchange platform is seeking a provider that can support a credit-card-based USD-to-CLP conversion model. Customers in Chile use USD-denominated credit cards to pay in USD through the platform and receive Chilean pesos directly into their own Chilean bank account.

The business has been operating for approximately 2 years through an intermediary partner and is now exploring direct support for processing and related payment infrastructure.

Business Model:

Customers hold USD-denominated credit cards with a dollar credit limit. They use the platform to convert USD card value into Chilean pesos. The customer’s card is charged in USD, and CLP is disbursed to the same customer’s Chilean bank account.

Revenue is earned through the FX spread.

Based on the attached flow of funds, the receiving entity may be either: A U.S. entity in Wyoming, or; A Uruguayan entity.

A local Chilean exchange/disbursement partner handles the CLP payout to the customer’s Chilean bank account.

Required Services:

The client is seeking support for one or more of the following: Credit card processing for USD card charges; USD receiving account / settlement support; FX / payment infrastructure support; Banking or PSP support for USD collection; Support for onward CLP disbursement flow; Providers comfortable reviewing card-funded FX / remittance-style flows.

Transaction Profile: Current monthly volume: approximately USD 84,000; Projected monthly volume by December 2026: approximately USD 420,000; Average transaction value: approximately USD 1,000; Projected monthly transactions by December 2026: approximately 420; Transaction purpose: foreign currency exchange, converting USD credit card balances into Chilean pesos.

Chargeback / Risk Controls:

The client states that chargeback exposure is low and that the model has been structured with controls including: Full KYC on every customer before first transaction; Name matching between cardholder, KYC profile, and CLP beneficiary bank account; Cardholder and receiving bank account must belong to the same person; Signed contract generated per transaction; Customer acknowledges exact amount and exchange rate per transaction; Approximately 2 years of activity through an intermediary partner with only one chargeback.

The client does not currently have direct processing statements, as historical volume was processed through an intermediary partner.

Geographic Scope: Customer base: Chile; Card charge currency: USD; Payout currency: CLP; Possible receiving entities: United States or Uruguay; Final disbursement: Chilean bank accounts.

Key Considerations For Providers:

Providers should be comfortable assessing: Card-funded FX / quasi-cash risk; Chargeback mitigation controls; KYC and name-matching workflows; Same-name cardholder-to-beneficiary restrictions; USD acquiring / processing risk appetite; CLP payout structure through a Chilean local partner; Whether the flow is treated as FX, money transmission, remittance, quasi-cash, or another regulated activity.

Timeline:

Client is open to discussion and can provide additional detail on a call.