Regulatory AlertsArgentina: fintech & payments regulation
RegulatedBCRA regulates PSPs under SINAP; no specific capital floor defined in source docs
- Lead regulator
- Banco Central de la Republica Argentina (BCRA)
- Also involved
- SFC (Financial and Currency Entities Superintendence) · AFIP (Tax)
- Core law
- Circular SINAP 1-232 (2025) - Payment Service Providers
- Entry capital
- —
- Approval timeline
- —
- Customer assets
- PSPs must segregate funds; specific custodial rules not detailed in docs
- Data protection
- Ley de Protección de Datos Personales 25.326 · AAIP
- Sandbox
- —
The BCRA is the primary regulator for fintech and payments, governing Payment Service Providers (PSPs) under the National Payments System framework. The 2025 regulatory updates (Circular SINAP 1-232) formalized the licensing and reporting regime for PSPs offering payment accounts, requiring registration with the Financial and Currency Entities Superintendence (SFC). The regulatory direction is towards enhanced data reporting, fraud mitigation, and integration with the national electronic clearing infrastructure.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Service Provider (PSP)[1] PSPs must register with SFC and comply with SINAP reporting. | — | — | BCRA |
| E-money & wallet issuance | LicencePayment Service Provider (PSP)[1] PSPs offering payment accounts are regulated under SINAP 1-232. | — | — | BCRA |
| Domestic money transfer | LicencePayment Service Provider (PSP)[2] Transfers governed by SINAP supplementary rules; PSPs must report. | — | — | BCRA |
| Cross-border remittance | LicencePayment Service Provider (PSP)[3] Cross-border flows subject to foreign exchange proceedings (Law 19.359). | — | — | BCRA |
| Agent network | Uncertainverify with regulator Agent network rules not specified in source documents. | — | — | — |
| Open banking / account information | Uncertainverify with regulator No open banking framework mentioned in source documents. | — | — | — |
| Foreign-exchange services | LicencePayment Service Provider (PSP)[4] PSPs can operate current accounts in USD; subject to exchange controls. | — | — | BCRA |
New — what changed recently
- 2025-07-25Circular SINAP 1-232 — Updated consolidated regulations for PSPs, mandating registration with SFC and enhanced reporting.[1]
- 2025-08-07Circular SINAP 1-234 — Mandated fraud mitigation measures and enhanced risk assessment for electronic funds transfers.[5]
- 2025-08-07Circular CAMEX 1-1050 — Allowed USD bank current accounts and electronic checks in dollars for financial entities.[4]
Market-entry checklist
- 1Register as PSP with SFCSubmit registration to the Financial and Currency Entities Superintendence as mandated by Circular SINAP 1-232.
- 2Implement Fraud MitigationAdopt enhanced risk assessment procedures for electronic transfers per Circular SINAP 1-234.
- 3Setup SINAP ReportingConfigure systems to submit monthly/quarterly data files (e.g., PSPCP, TRANSFERENCIASINTRA) to BCRA.
- 4Comply with AML/ForexAdhere to Disciplinary Regime and Foreign Exchange Proceedings under Laws 21.526 and 19.359.
Sources
- BCRA Circular SINAP 1-232: Payment Service Providers Update · 2025-07-25
- Circular SINAP 1-247 National Payments System – Transfers – Supplementary Rules. Update. · 2026-05-14
- Circular RUNOR 1-1953 Disciplinary Regime of the Central Bank of the Argentine Republic (Laws 21.526 and 25.065) and Processing of Foreign Exchange Proceedings (Law 19.359). Update. · 2026-03-27
- Circular CAMEX 1-1050 OPASI 2-738: Regulation of the Bank Current Account. Adjustments. · 2025-08-07
- Circular SINAP 1-234 Retail Payment Systems - Fraud Mitigation Measures · 2025-08-07