New payments rule incites controversy in Argentina
Retailer and former central bank officials allege regulation shields banks from competition
Argentina’s central bank has become embroiled in a new political dispute after a change in its payments regulations angered a major online payments firm. Former central bank officials claim the central bank is trying to prevent this company, Mercado Pago, from competing with banks.
The Central Bank of Argentina (BCRA) operates an instant payments facility, the Immediate Debit system (Debin), which allows real-time transfers with prior authorisation. Debin began operating in September 2017. In a
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