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QR payments: BCRA defines responsibilities for fraud and commissions

QR payments: BCRA defines responsibilities for fraud and commissions
QR payments: BCRA defines responsibilities for fraud and commissions

Finally, the Central Bank issued new regulations related to the use of interoperable digital wallets and credit card payments using QR codes.

The interoperability rules will also apply to payments made with prepaid cards.

Through Communication “A” 8032/2024 of the Central Bank (BCRA), published this Tuesday in the Official Gazette, established the new rules on credit card payments through the QR code reading in interoperable digital wallets.

Main points of Communication

Liability for Fraud

  • If a credit card payment is initiated from an interoperable digital wallet using a QR code, the wallet will be liable for fraud, except in the following cases:
    • a) If the wallet uses card tokenization and authentication standards.
    • b) If the transaction cannot be processed with these standards due to a failure of the acquirer/aggregator. In this case, the acquirer/aggregator will be responsible.
    • c) If there is a contrary agreement between the parties involved.

Digital Wallet Interoperability

  • All interoperable digital wallets that allow credit card payments using QR codes They must be able to read any QR code provided by any acquirer or aggregator.

Transaction Fees

  • Interoperable digital wallets that have not issued the credit card used in the transaction may charge the card issuer a fee of 0.07% of the transaction amount.

Application to Prepaid Cards

  • The interoperability rules will also apply to payments made with prepaid cards.

News in development.-

Source: Ambito

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