ARG GVT Merchants Payment Accreditation

Published on: Dec 26, 2024

On Dec. 19, ARG GVT reduced payment from one month to two days.

  • ARG GVT Secretary of Industry and Commerce and ARG CB reduced merchants' payment accreditation with prepaid cards from 1 month to 2 days, see #238118.
  • Highlights
  • ARG CB decided to shorten period that prepaid card issuers have to credit amounts.
  • Measure aims to modernize payment methods, improve transparency, protect funds.
  • It debits buyer's money at the time of consumption, but pays merchants a month later.
  • Effectiveness
  • It will come into force for payments made from Aug. 1, 2025.
  • For businesses classified as SMEs, it will come into force on Mar. 1, 2025.
Regulators
ARG GVT
Entity Types
Bank; CNSM; Corp
Reference
PR, 12/19/2024
Functions
Compliance; Financial; Legal; Reporting; Risk; Treasury
Countries
Argentina
Category
State
N/A
Products
Banking; Cards; Corporate; Deposits; Payments
Rule Type
Final
Regions
Am
Rule Date
Dec 19, 2024
Effective Date
Mar 1, 2025
Rule ID
238115
Linked to
Rule :238118
Reg. Last Update
Dec 19, 2024
Report Section
International