New Regulation on Payment Service Providers

The Argentine Central Bank (BCRA) issued Communication “A” 8432/2026 on May 6, 2026, through which it updated the regulatory framework on Payment Service Providers (PSP) and introduced a new category of regulated entity.

The BCRA defines “PSPCP as a Service” as those PSPs that offer payment accounts (PSPCP)—and, where applicable, interoperable digital wallet services—to clients of a third-party service recipient, who use such accounts through a user interface provided by such third party and technologically integrated with the PSPCP.

Following the Communication, the BCRA established that PSPCP as a Service providers may not offer their services to foreign entities not regularly incorporated in Argentina or to entities that the regulations of the Argentine Securities Commission (CNV) recognize as markets, clearing houses, or agents of any kind. In addition, third-party service recipients are now required to inform their clients of the commercial name of the PSP that effectively provides the account.

The Communication also introduces changes to the PSP registration process. The main measures include:
 

1. Upon registration, PSPs must report their Compliance Officer—both primary and alternate—before the Financial Intelligence Unit (UIF), identify their sponsoring banks, and indicate whether they will operate under the PSPCP as a Service framework. If so, PSPs must identify the third parties to whom they will provide the service.
2. PSPs must identify individuals holding at least 10% of their share capital or voting rights, individuals who otherwise exercise director or indirect ultimate control, and members of the management and/or supervisory body. All of them must also submit criminal background certificates and sworn statements.
3. The BCRA is now authorized to deregister PSPs in cases of inactivity for at least 180 consecutive calendar days from the start of operations, material changes in the conditions required for registration, sanctions, or changes in the PSP’s operations with regards to the information previously submitted.
4. The timeframe to begin operations after registration has been extended from 6 to 12 months.
    

PSPs already registered in the PSP registry at the time this Communication enters into force have 90 calendar days to adapt their operations to the new regulatory framework. Additionally, PSPCPs as a Service providers have 10 business days to report the list of entities to whom they provide such services.