Registering in the Payment Service Provider Registry

What is it?

This is the procedure through which reciprocal guarantee companies interested in having the guarantees granted by them for financing to MSMEs and third parties be registered in the pertinent registry, so that the financial institutions may grant them the status of preferred guarantee, in accordance with the framework set forth in Article 80 of Law 24,467 and the applicable Ordinance.

Who is it for?

To legal entities that must register in the BCRA’s Registry of Payment Service Providers.

Modality

Online procedure, through the web site of the Collection and Customs Control Agency (ARCA), using the service:
“BCRA – Payment Service Providers – Register of Payment Service Providers”
(requires Fiscal Code level 3).

Value of the procedure

Free procedure.

What is needed?

In accordance with the Payment Service Provider Ordered Text, the following must be submitted:

Data of the legal entity

• – Name of the legal entity.
• – Trade name or trademark.
• – TAXPAYER IDENTIFICATION CODE (CUIT).
• – Contact information.
• – General data.
• – Legal address.
• – Registered office.

Data on human persons

• – Identification of the persons who hold at least 10% of the capital and/or votes or who, by other means, exercise ultimate direct or indirect control of the PSP (principal members of the governing body).
• – Composition of the governing body.
• – Composition of the auditing body.
• – Data of the legal representative or proxy.
• – Details of the person responsible for information security (designated for access to the computing environments of the BCRA’s Internet sites).
• – Details of the person responsible for the information system and the person responsible for overseeing the payment systems.
• – Other responsible persons that may be required according to the function to be registered.

Documentation

• – Copy of the articles of incorporation or bylaws and its amendments.
• – Affidavit signed by the legal representative stating that:
  – all the information submitted is true,
  – the attached documentation is a true copy and the originals are available to the SEFyC,
  – the PCT acquirer voluntarily accepts to be subject to BCRA’s regulatory, control and sanctioning regime.
• – Shareholding composition including direct and indirect shareholders (must contain the human persons reported as shareholders).
• – Operational and commercial description, with the details required by the standard according to the function to be registered.

How is it done?

1 | Login to ARCA service

a) Access the ARCA website with Fiscal Code level 3.
b) Access the service “BCRA – Payment Service Providers – Register of Payment Service Providers”.
c) Apply for username and password to access the BCRA registers, if you do not already have them.
d) Activate the username and password from the link received by email.

2 | Complete the registration information

a) Access the link to the corresponding registry.
b) Upload the required data of the legal entity and human persons.
c) Complete the operational and commercial information.

3 | Upload documentation

a) Upload the documentation in PDF format (maximum 50 MB per file, recommended resolution 150-200 dpi).

4 | Submit the procedure

a) Verify that the documentation is complete, without omissions or errors.
b) Send the process through the application.

5 | Review of the procedure

a) The documentation is reviewed for validation.
b) In case of formal faults or requirements, corrections or clarifications will be requested.
c) All notifications are sent to the email address declared by the entity in the legal address data.
d) The entity may correct the procedure to continue the process or request cancellation if the requirements to be included in the registry are not met.

6 | Certificate of registration and commencement of operations

a) Once the requirements have been met, the SEFyC issues a certificate of registration and grants a number in the Registry of Payment Service Providers, a necessary condition to operate.
b) PSPs have a term of 6 months to start operations from the date of registration (date of sending of the certificate). Failure to comply implies automatic deregistration.
c) In the event of deregistration due to failure to start operations or expiration of the registration process due to failure to correct observations, a new process cannot be initiated until 6 months have elapsed from the deregistration or expiration date.
d) The PSP must inform, through the registry application, the effective start date of its operations.

Where is it held?

Online, through the corresponding service on ARCA’s website.