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  1. Consumer Goods & Retail
  2. Argentina: Transactions performed with cards

Argentina: Transactions performed with cards

25 Mar 2024    1 minute read
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DT Featured Content

In brief

By means of Resolution No. 87/2024 ("Resolution"), the Secretariat of Commerce ("Secretariat") established that businesses that operate with purchase, debit or credit cards must make the electronic payment terminal available to consumers. This is to ensure that they do not lose control of their card during the transaction.


Contents

In focus

The Secretariat published the Resolution in light of the large number of cyber frauds and scams resulting from the capture of data of credit, purchase and debit cards.  The Resolution obligates commercial establishments to carry out their transactions in a manner that consumers are not deprived of their card until the transaction is completed.

Businesses have 180 days from 12 March 2024 to comply with the Resolution. Otherwise, they could be subject to the sanctions established by Consumer Protection Law No. 24,240.

With this Resolution, the Secretariat seeks to minimize the risks arising from the use of card systems, which according to official reports has given rise to 7000 complaints before the National Consumer Protection Authority in 2023.

Click here to read the Spanish version.
 

Contact Information
Guillermo José Cervio
Partner
Buenos Aires
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guillermo.cervio@bakermckenzie.com
Martin Roth
Partner
Buenos Aires
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martin.roth@bakermckenzie.com

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