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BCRA postponed changes for virtual wallet users until March


He BCRA postponed changes to transfers for all virtual wallet users until March. In communication “A” 7934 it was announced that the first point of Communication “A” 7905 was modified, where the entry into force of certain modifications to the National Payment System related to immediate debit (DEBIN) and the interoperability of credit card payments using QR codes.

It should be noted that on November 30, 2023, The BCRA issued Communication “A” 7905 where it had postponed the entry into force of certain modifications for transfers in virtual wallets.

So, left without effect until March 1 the replacement of the immediate debit system (DEBIN) with the immediate “pull” transfer system in the case of clients who have used the recurring DEBIN as a funding tool up to and including December 31. In this way, it was established that starting January 1st, clients who wish to deposit funds into their accounts for the first time will only be able to do so with immediate “pull” transfer and until February 1st the interoperability of QR codes ( Quick Response) regarding payment using credit cards.

This article was changed and now in all cases the new regulations are left without effect until March 1st.

It should be noted that in the previous management of the monetary entity, it sought the migration of the Immediate Debit system (DEBIN) to pull transfers as a mechanism to fund (that is, send money) from a bank account to virtual wallets.

The BCRA vs. dispute Payment Market

In September of this year, after a few days of tension between Mercado Pago, the BCRA and the Ministry of Economy for the measure that established changes in the modality used for funding bank accounts and payment service providers, The monetary regulator stopped at an intermediate point and went to the Interbank Payment Methods Commission (CIMPRA) to analyze the issue.

The dispute had begun on September 14, when, through Communication “A” 7841, The Central established that December 1st would be the deadline for the replacement of DEBIN by pull transfers as a tool to fund accounts.

The DEBIN is an online transfer in which the person collecting initiates the process and the person paying only has to accept it. While, Immediate “pull” transfers are requests or requests for funds that allow prior authorization from the owner of the money.the immediate crediting of the scheduled amount into the applicant’s account.

Mercado Pago came out to respond that this decision affected more than 4 million people and that this measure made the transfer of money from one bank account (CBU) to another in a virtual wallet (CVU) more complex. They highlighted that DEBIN began to be used to deposit money into the wallet almost three years ago and is the funding channel most valued by people for its “simplicity and security.”

The BCRA responded that this decision had been made in consensus with the fintech sector and that it aimed to take a step towards organizing the payment system. In the entity, they ensure that The measure aims to guarantee user security given that there have been many scams with the use of DEBIN and that this is related to the fact that these types of transfers were created for other purposes, not to fund accounts.





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