Mendoza Regulates Minors’ Use of Virtual Wallets
Payment service providers must guarantee parents or legal guardians unrestricted access to all information related to minors’ virtual accounts.
On May 2, 2025, the Senate of Mendoza passed a bill that incorporates article 44 paragraph 5 to Law 5547 on Consumer Defense. The new provision enables parents and/or legal guardians named as responsible in contracts between minors and virtual wallet providers to access and oversee the financial transactions said minors conduct.
Thus, payment service providers (PSP) must guarantee parents or legal guardians unrestricted access to all information related to consumption, money movements, transfers and investments made to and from the minor’s account.
Likewise, PSP must enable the option of requesting closing the minor's account at any time and autonomously, without requiring the minor’s intervention.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.