ARTICLE

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.

May 14, 2025
Mendoza Regulates Minors’ Use of Virtual Wallets

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.