ARG CB Digital Wallet and QR Codes


On May 30, ARG CB issued guideline rules on the use of digital wallets.


  • ARG CB issued Circular SINAP 1-211, Communication A 8032 to amend regulations of the national payment system, re payment services such as the use of digital wallet.
  • Follows ARG CB publications on updates to the payment system rules, see #176200.
  • Highlights
  • All registered digital wallets, whether bank or payment service providers, that allow credit cards and/or prepaid cards payments through QR codes, must be interoperable.
  • When a credit card payment is initiated from an interoperable digital wallet by reading a QR code, liability for fraud will be assumed by the wallet, except in specific cases.
  • Any interoperable digital wallet that allows credit card payments to be made by reading QR codes must be able to read any printed image, device or terminal provided.
  • Financial entities and Payment Service Providers (PSP) with interoperable digital wallet service will charge the issuer, for each transaction, 0.07% of the transaction amount.
  • Measures in Communication A 7769 and in this communication re interoperability in credit card payments through QR codes will apply to payments with prepaid cards.
  • Effectiveness
  • Points 1, 2, and 3 of this communication will come into force 60 days after disclosure.
  • Point 4 of this communication will come into force 270 days after its dissemination.
  • Jun. 18, 2024 ARG CB Official Publication
  • On Jun. 18, 2024, ARG CB published Communication A 8032 in the official gazette.

Regulators ARG CB
Entity Types Bank; MSB
Reference OG, 6/18/2024; PR, Cir SINAP 1-211, Com A 8032, 5/30/2024
Functions Compliance; Legal; Operations
Countries Argentina
Category
State
Products Banking; Cards; Deposits; Payments
Regions Am
Rule Type Final
Rule Date 5/30/2024
Effective Date 7/28/2024
Rule Id 214228
Linked to Rule :176200
Reg. Last Update 6/18/2024
Report Section International

Last substantive update on 06/19/2024