Users of electronic wallets will have the option to link them to their bank or virtual accounts, without the need to have a debit card. This is another measure to encourage the use of electronic means of payment, which will reach a milestone on November 29, when interoperability across the entire QR code payment system will be enabled.
Starting on that date, stores that accept payments with a QR code will no longer have to operate only with their provider, and will be able to accept payments from any wallet with a QR code scanner. To standardize the payment system in Argentina, the BCRA’s 3.0 Transfers program allows users to open a savings account online (without visiting a bank branch) and link it to a wallet without the need to have a debit card.
Customers will have access to ATMs, if needed, by generating a withdrawal order directly from the application.
The new system implemented by the BCRA promotes payments by transfer, which are irrevocable and immediately credited. Moreover, it expands the range of payment options and reduces the use of cash at stores, resulting in lower costs and more security. They also improve payment reconciliation.
November 20, 2021.