In brief
On 30 April 2026, the Central Bank of the Argentine Republic (BCRA) issued Communication “A” 8432 (the “Communication”), which introduced significant amendments to the Consolidated Text on Payment Service Providers. The measures strengthen the registration, governance, and control framework applicable to Payment Service Providers (PSPs), introduce a new regime for Payment Service Providers that offer Payment Accounts as a Service, expand information requirements before the BCRA, and adjust the rules applicable to cessation of activities, operational deadlines, and compliance with anti-money laundering and counter-terrorism financing obligations.
In focus
Below the main measures introduced by the Communication:
- Restrictions on acting as a PSP and fit-and-proper requirements. An exception is introduced to the obligation to settle proceeds from exports of goods and services carried out by individuals, provided that the funds are brought into the country through the official foreign exchange market (“FX Market”) within the applicable regulatory timeframes and that the conditions set forth in the FX Regime are met.
- Introduction of the figure of “PSPCP as a Service”. Communication introduces the definition of PSPCP as a Service, encompassing Payment Service Providers that offer Payment Accounts – and, where applicable, interoperable digital wallets – (PSPCPs) to the customers of a third-party service recipient, through interfaces provided by such third party and technologically integrated with the PSPCP. PSPCPs as a Service must obtain the BCRA’s authorization prior to providing services to a third-party service recipient.
- New requirements for registration and updates in the PSP Registry (“PSP Registry”) and AML/CFT updates. The scope of information required for registration in the PSP Registry is expanded, including the obligation to identify the AML Compliance Officer before the UIF (principal and alternate) and the sponsoring bank for all categories of PSPs. Additionally, in the case of PSPCPs as a Service, identification of the third parties to whom the service is provided is required. Finally, PSPs are incorporated into the Consolidated Text on the Prevention of Money Laundering, Terrorist Financing, and Other Illicit Activities.
- Information on shareholders, controlling parties, and officers. PSPs are now required to provide detailed information regarding: (a) individuals holding at least 10% of the capital or voting rights; (b) persons exercising ultimate direct or indirect control; and (c) members of the management and supervisory bodies.
- Cessation of activities and deregistration from the PSP Registry. The regime governing cessation of activities is replaced, regulating both voluntary deregistration and deregistration ordered by the BCRA. This includes cases of prolonged inactivity, failures to meet information requirements, material operational changes, or sanctions imposed by competent local or foreign authorities.
Communication entered into force on 30 April 2026. PSPs have: (a) 10 business days to provide a list of the entities to which they provide services, if acting as a PSPCP as a Service; and (b) 90 calendar days to comply with the provisions of Communication.
Jerónimo Argonz, Associate, and Juana Bardin, Associate Jr, have contributed to this legal update.
Download the Spanish version of Argentina: The BCRA Introduces New Adjustments to the Regime Applicable to Payment Service Providers (PSPs).