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More Information on 3.0 Transfers

The Board of the BCRA has provided more information on the operation of the 3.0 Transfers program, which will reach a milestone on November 29, when the entire quick response (QR) code payment system will be interoperable.

-The maximum term to credit payments by transfer requiring interoperability between different payment schemes will be 25 seconds.

-Each instant transfer scheme must have fraud mitigation tools to identify suspicious patterns, and warn users before or after the transaction is approved.

-Acceptors may charge shops a fee between 0.6% and 0.8%.

-Instant transfer scheme administrators must ensure that the fees charged by acceptors are within the limits established.

-Before June 30, 2022, instant transfer scheme administrators must submit an agreed plan to the Means of Payment Deputy Management Office for the implementation of a unified transaction repository that records the transactions falling under the scope of the regulations on 3.0 Transfers.

Ticket Purchases with Credit Cards

Airline tickets to destinations within Argentina may be financed with credit cards under the Ahora 12 plan boosted by the National Government. In turn, airline tickets to destinations abroad may be financed with credit cards at a 43% interest rate, according to a BCRA regulation.

November 25, 2021.

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