Article 7 of Law 2439 of 2024 (the "Law") added a third paragraph to Article 45 of Law 1480 of 2011, clarifying the regime of elements that are considered as interests in electronic financing systems, as it (i) establishes that the concept of the use of technology shall be regarded as interest; (ii) introduces information obligations for the creditor; (iii) determines the elements that are not considered as interests; and (iv) establishes the consumer's right to choose the form of execution, if they can be offered in physical form.
 

Firstly, the Law establishes that in credit operations conducted through electronic means, any charge made to the consumer for the use of technology shall be considered as interest, in accordance with the provisions of Article 68 of Law 45 of 1990, which states that sums received by the creditor from the debtor without any consideration other than the credit granted, and sums paid by the debtor for services directly related to the credit, are considered as interests.
 

Secondly, the Law introduces the obligation for the creditor to inform the consumer of all charges directly associated with the credit, and indicate whether these charges are considered accrued interests or not.
 

Thirdly, the Law indicates that the following charges shall not be considered as interests: (i) charges that are caused independently of the credit; (ii) charges that have been duly informed to the consumer; and (iii) charges that the consumer is responsible for. The Law provides illustrative examples of charges that are not considered interests, such as insurance, guarantees, and taxes, including electronic signatures.
 

Lastly, the Law establishes the obligation for the creditor to inform the consumer of all technological concepts that incur expenses, provided these can be replaced physically, thus giving the consumer an option to choose the form to execute them.