He Central Bank of the Argentine Republic (BCRA) announced that it put into effect as of today: QR code interoperability for payment with credit cards, the new modality of immediate pull transfers for funding between own accounts and the new electronic fixed term.
The implementation of these instruments begins today, but the implementation will be gradual until all processes are operational. “The BCRA has the contribution of all the actors in the electronic payment ecosystem who are committed to making this innovative process successful,” they announced.
The QR codes displayed by businesses to charge with credit cards They must accept that clients can make payments with any digital wallet (banking or payment service provider), regardless of whether there is a brand match with the QR.
At the same time, it was announced that The acquirers and aggregators that offer the service will not be able to discriminate in the commissions and accreditation periods of the funds to the merchant based on the brand of wallet that ordered the payment. In the same sense, the measure stipulates that when acquirers or aggregators are also acceptors of transfer payments, they must offer businesses a single QR code that includes all payment instruments.
The BCRA also made changes to immediate transfers. Pull transfers are requests for funds that allow, by debiting the account – demand or payment – of the client receiving the request and with prior authorization or consent, immediate crediting of funds to the requesting client’s account.
The movement of funds is direct from one account to another, without going through third parties and at no cost to the financial user. In this first stage, they will only be enabled between accounts of the same owner.
Therefore, The recurring DEBIN—created and regulated to provide an online automatic debit service—will no longer be used for funding between own accounts.
Finally, the new electronic fixed term —Electronic Certificate for Term Deposits and Investments (CEDIP)— will provide an alternative to those users who decide to constitute a deposit or term investment through the electronic channels of their financial institution.
Financial institutions may offer the client the issuance of the CEDIP, which will allow them to use it as a means of payment, and will enable its negotiation in the secondary market to, in this way, obtain liquidity. Initially, only companies will have access to the CEDIP while, in a second stage, the operation will be available to the entire public.
Financial entities, even those that do not issue CEDIP for the fixed-term deposits they receive, will have the obligation to allow their clients to accept the CEDIP that another human or legal person transmits to them and collect it upon maturity.as well as the possibility of transmitting it again if your client requires it.
The CEDIP is a completely digital instrument that will have a record of all its transmissions with a certain date and will be fully traceable.
Source: Ambito
