The new means of payment boosted by the BCRA through Communication A 6043 started to be operational a few days ago.
In fact, a public bank from the interior of our country began distributing security devices to validate transactions (dongles) among its customers—self-employed workers and small traders—so as to facilitate collection services with debit cards.
These devices are connected to a mobile phone and work as a mobile POS through which a payer may make instant electronic transfers with a debit card. Like transfers made through online banking or self-services terminals, mobile POS transfers do not entail any cost for the payer, nor any national tax withholdings to the beneficiary of the funds. Moreover, the amounts so transferred are credited immediately into the beneficiary’s account. Finally, as per BCRA’s regulation, this service is free of charge for beneficiaries that are micro companies (bigger-sized companies have to agree on the service price with the supplier institution).
The BCRA expects that these initiatives shall contribute to an increased use of debit cards, given that the benefit for self-employed workers and small traders is likely to prompt a broader acceptance network.
The means of payment described is one of the three channels boosted by the BCRA through Communication A 6043 in order to increase the amount of instant electronic transfers. The other two channels are: “e-wallet”—to make instant electronic transfers through mobile applications,—and “payment button”—to make online payments through the transfer system.
