This Friday the Central Bank will enable payments in dollars with debit and QR in commerce

He Starting Friday, the Central Bank of the Argentine Republic (BCRA) will enable payments in dollars with debit cards and QR codes in stores. The measure will allow consumers to choose to pay in pesos or in foreign currency, as long as they have a bank account in that currency and an associated card.

The new modality will facilitate the use of dollars in everyday transactions and will formalize operations in sectors such as tourism, real estate and household appliances. Businesses will be able to display prices in both currencies and decide whether to accept payments in dollars, although its implementation will be voluntary.

QR payments will allow any virtual wallet or banking app to scan and process dollar transactions. The interoperability of the system will ensure that customers can use different payment methods without platform restrictions. The regulation will also enable payment in installments through the programmed DEBIN system.

The BCRA has set April 1 as the date for the platform to be fully operational, giving merchants time to adapt their systems.

1. What did the Central Bank enable?

• Payments in dollars with debit cards and QR codes.
• Incorporation of DEBIN in pesos and dollars for commercial transactions.

2. When does it come into effect?

• Debit payments in dollars: before February 28, 2025.
• QR payments in dollars: before April 1, 2025.

3. How does it affect consumers?

• They will be able to use dollars in their savings accounts to pay in stores.
• Greater flexibility in payment options.

4. What does this mean for businesses?

• The measurement is optional.
• Businesses that accept dollars must have a bank account in that currency.

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5. What role do acquirers and sub-acquirers play?

• They will develop the necessary tools to process payments in dollars.
• They must implement them before the dates indicated by the BCRA.

6. What is interoperable QR?

• A system that allows payments with any method enabled in the digital wallet.
• It works by scanning any QR code.

7. What is the difference between the Scheduled DEBIN?

• Allows recurring payments in fixed installments in pesos or dollars.
• Requires a one-time authorization from the account holder.

8. What is the objective of these measures?

• Encourage currency competition.
• Allow the use of the preferred currency in daily transactions.

9. What is the background to this measure?

• It was announced publicly by the Minister of Economy, Luis Caputo.
• It is part of the policies of Javier Milei's government to boost the use of the dollar.

10. What impact will it have on the economy?

• It will promote the use of declared currencies in money laundering.
• It could boost the financial market, although experts warn of possible operational challenges and effects on the peso.