Consolidated Text on Payment Service Providers – Update (Communication A 8505)

"2026 - AÑO DE LA GRANDEZA ARGENTINA" COMMUNICATION "A" 8505 04/11/2026 TO FINANCIAL INSTITUTIONS, TO AUTOMATED TELLER MACHINE NETWORKS, TO ELECTRONIC FUNDS TRANSFER NETWORKS, TO ADMINISTRATORS OF ELECTRONIC FUNDS TRANSFER PAYMENT SCHEMES, TO PAYMENT SERVICE PROVIDERS, TO PAYMENT SERVICE PROVIDERS THAT OFFER PAYMENT ACCOUNTS, TO PAYMENT SERVICE PROVIDERS THAT PERFORM THE INITIATION FUNCTION, TO PAYMENT ACCEPTORS WITH TRANSFER, TO QR ADMINISTRATORS, TO CARD PAYMENT ACQUIRERS, TO PAYMENT INSTRUMENT AGGREGATORS, TO EXTRABANK TAX AND/OR SERVICE COLLECTION COMPANIES: Ref.: Circular SINAP 1-259: Consolidated Text on Payment Service Providers. Update. ___________________________________________________________________________ We are writing to you to send you in annex the pages that, in replacement of those previously provided, should be incorporated into the consolidated text on Payment Service Providers based on the provisions disclosed through Communication A 8497. It is recalled that on the page of this Institution www.bcra.gob.ar, by accessing "Sistema Financiero – MARCO LEGAL Y NORMATIVO – Ordenamiento y resúmenes – Textos ordenados de normativa general", you will find the modifications made with texts highlighted in special characters (strikethrough and bold). We greet you attentively. BANCO CENTRAL DE LA REPUBLICA ARGENTINA Irene T. Cano Jorge A. M. Golla Signature 2 Deputy Manager of Payment Systems Development Manager of Payment Systems Functional Position ANNEX

4.1. Administration of funds

4.1.1. The funds of clients credited in payment accounts offered by PSPCP must be, at all times, available –with immediate character upon their request by the client– for an amount at least equivalent to that which was credited in the payment account. To that effect, the systems implemented by the PSPCP must be able to identify and individualize the funds of each client.

4.1.2. 100% of the clients' funds must be deposited –at all times– in demand accounts in pesos in financial institutions of the country.

Notwithstanding this, upon express request of the client, the balances credited in payment accounts may be transferred for their application to the carrying out of operations with "money mutual funds" in the country, and the payment account must be debited. In the latter case, it will be required that the invested balances be reported separately from the rest.

4.1.3. For the carrying out of transactions on own account (payment of suppliers, payment of salaries, etc.), the PSPCP must use an "operational" demand account (freely available) different from the account where the clients' funds are deposited.

4.2. Transparency

4.2.1. Advertising carried out through any medium and documentation issued by the PSPCP must include a clear, express, visible mention and in an adequate size, that:

4.2.1.1. They are limited to offering payment services and are not authorized to operate as financial institutions by the BCRA.

4.2.1.2. The funds deposited in payment accounts do not constitute deposits in a financial institution, nor do they have any of the guarantees that such deposits may enjoy in accordance with the legislation and regulations applicable to deposits in financial institutions.

4.2.2. When they make available to their clients the operation with money mutual funds, they must inform them in all their digital media where that service is presented of the variation of the value of the unit share of the last 7 calendar days expressed as an annual nominal rate –net of administration and custody fees–, as well as the identifying data of such funds, their description, and class of unit share. Access to the aforementioned information must be easy and direct, as regards visibility and size, in those media, located next to the investment option.

4.3. Transfers of funds sent and received in payment accounts

The PSPCP must comply with the obligations established in the TO on National Payment System. Transfers and National Payment System – Transfers – Complementary Rules.

4.4. Identity verification

The PSPCP must verify the identity of the persons who request the opening of a payment account, observing for that purpose the provisions set forth in point 5.5.2.1. of the TO on National Payment System – Payment Services.

4.5. PSPCP as a Service: particular provisions

4.5.1. As regards the use of payment accounts, the clients of the third party are clients of the PSP that offers payment accounts as a service –PSPCP as a Service–.

4.5.2. The use of payment accounts by the clients of the third-party service taker does not relieve the PSP that provides them –PSPCP as a Service– of the obligation to comply with all the regulations applicable to PSPCP.

4.5.3. The interfaces of the third-party service takers must inform their clients –in the view or screen that displays the balance of the payment account, clearly and legibly– of the commercial name of the PSP that provides it and all other information that the TO on Protection of Users of Financial Services and these rules require, without prejudice to the responsibility incumbent on the PSPCP as a Service for compliance with those provisions.

4.5.4. The interfaces, processes and systems used by third-party service takers for customer onboarding, the operation of payment accounts, the provision – where applicable – of interoperable digital wallet services and the management of associated information must comply with the regulations issued by the BCRA regarding customer identification and knowledge, digital onboarding, prevention of money laundering and terrorist financing, fraud prevention, information security, operational continuity and technological and operational risk management.

The PSPCP as a Service shall be responsible for contractually establishing such requirements with third-party service takers, verifying their proper implementation and ensuring that the provision modality does not imply standards lower than those required for the direct offering of payment accounts and, where applicable, the interoperable digital wallet service.

4.5.5. The contracts that each PSPCP as a Service enters into with the taking entities must be available to the SEFYC.

4.5.6. Non-compliance with these provisions may result in the cancellation of the registration granted by the BCRA to act as a PSPCP.

4.6. Prohibitions

PSPCPs may not carry out or facilitate for their customers the carrying out of operations with digital assets – including cryptoassets and those whose yields are determined based on the variations they record – that are not authorized by a competent national regulatory authority or by the BCRA.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

B.C.R.A. ORIGIN OF THE PROVISIONS CONTAINED IN THE ORDERED TEXT ON PAYMENT SERVICE PROVIDERS

	ORDERED TEXT			SOURCE RULE				OBSERVATIONS
Section	Point	Para.	Comm.	Annex/ Chap.	Pt.	Para.
1.	1.1.		"A" 6859					S/Comm. "A" 6885, 7153 and 7495.
	1.1.1.		"A" 6859					S/Comm. "A" 6885, 7153 and 7495.
	1.1.2.		"A" 6859					S/Comm. "A" 6885, 7153 and 7495.
	1.1.3.		"A" 6885	Annex				S/Comm. "A" 7153 and 7495.
	1.1.4.		"A" 6885	"				S/Comm. "A" 7153.
	1.1.5.		"A" 6885	"				S/Comm. "A" 7153.
	1.2.		"A" 6885	"				S/Comm. "A" 7495.
	1.3.		"A" 6885	"				S/Comm. "A" 7495.
	1.3.1.		"A" 6885	"				S/Comm. "A" 7495 and 8432.
	1.3.2.		"A" 8432		1.
	1.4.		"A" 6885	"				S/Comm. "A" 7153, 7328, 7462, 7495 and 7769.
	1.4.1.1.		“A” 8432		2.
	1.4.2.1.		“A” 8206		9.	a.		S/Com. “A” 8287.
	1.4.2.2.		“A” 8206		9.	a.		S/Com. “A” 8287.
	1.4.7.		“A” 7769		2.
	1.4.8.		“A” 7769		2.
	1.4.9.		“A” 7769		2.			S/Com. “A” 8472.
	1.5.		“A” 6885	“				S/Com. “A” 7367 and 8411.
2.	2.1.		“A” 6885	“				S/Com. “A” 7462, 7495, 7769, 7907, 8206 and 8287.
	2.2.		“A” 6885	“				S/Com. “A” 7462, 7495, 7613, 8176, 8432 and “B” 12648.
	2.2.2.10.		“A” 8432		3.
	2.2.2.11.	iv) to vi)	“A” 7769		7.			S/Com. “A” 8287 and 8432.
	2.2.2.12.		“A” 8102					S/Com. “A” 8432 and 8454. Includes regulatory clarification.
	2.2.4.		“A” 8432		5.
	2.2.5.		“A” 8432		6.
	2.3.		“A” 6885	“				S/Com. “A” 7495, 7613 and 8432.
	2.4.		“A” 6885	“				S/Com. “A” 7495.
	2.5.		“A” 7613		4.			S/com. “A” 8432.
3.	3.1.		“A” 6885	Annex				S/Com. “A” 7495 and 8102.
	3.2.		“A” 6885	“				S/Com. “A” 7495.
	3.3.		“A” 7593		4.	1. and 2.		S/Com. “A” 7712, 7972, 8102 and 8432. Includes regulatory clarification.
4.	4.1.		“A” 6885	“				S/Com. “A” 7495, 7825 and 8038.
	4.2.		“A” 6885	“				S/Com. “A” 7495, 8497 and 8505.
	4.3.		“A” 6885	“				S/Com. “A” 7153 and 7495.
	4.4.		“A” 8432		12.
	4.5.		“A” 8432		11.			S/Com. “A” 8497.
	4.6.		“A” 7759					S/Com. “A” 7907 and 8432.
5.	5.1.		“A” 7769		4.			S/Com. “A” 7907.
6.	6.1.		“A” 7769		8.			S/Com. “A” 7907.
7.			“A” 8432		13.