To avoid the frauds and scamsthe government is working on new rules for implementation payments by debit, credit and prepaid cards that basically exempts users from presenting documentation at the time of purchase and he allows it be the only ones handling that plastic. So, for example, when paying in a restaurant, the waiter will have to bring the POS terminal closer to the table.
The Ministry of Commerce is defining the details of a resolution that could see the light in the next few days and with which companies will be forced stop handling your customers’ plastic. In this department, an adaptation period ranging from 90 to 180 days is foreseen and they ensure that from a technological point of view there are no impediments to the establishment of this payment method, which is already used in a large part of the world, and which could present to “leap” in consumer safety.
The idea is prevent the owner of these plastic materials from losing sight of this documentation sooner or later and data theft occurs: with a simple photograph of the cards and the document, those with bad intentions can commit a scam and purchase on a site on line.
Electronic purchases are precisely the hub where potential scams can creep in: it is estimated that in the region 90% of card fraud occurs in this context, purchases made “remotely”.
To support this initiative the Government talks about some 7,000 complaints filed in 2023 at the Secretariat of Consumer Defense for fraud and theft of owner data.
At the same time, a deputy from Together for Change, Damián Arabia, presented a bill to Congress on Friday entitled “Free and safe movement in payment by debit, credit and prepaid cards.
The Saudi initiative takes a step further in what Commerce intends to do: the legislator seeks to repeal the chapter of the credit card law, enacted in 1998, which requires the presentation of the DNI or any document proving the identity of the buyer at that time of payment.
In dialogue with Clarionstressed: “That point of the card law made sense then, today with existing technological advances it has a negative effect. The reality is that all banking and fintech applications allow you to “pause” a card if you believe “that someone has abused it and quickly report the matter. Delivering the document poses unnecessary risk to the buyer and does not reduce fraud or the level of ignorance for the trade.”
Payments industry sources consulted by this newspaper said they support these changes as they are “in line with technological advances”. “Today, most POSs park in the country Includes NFC technology, which allows for contactless paymentso the buyer only needs to place the plastic in the terminal, which speeds up the payment time and is also very secure,” they said.
The initiatives that both Pablo Lavigne’s portfolio and vice Arabia want to implement at a national level They have already done their “pilot test”” in three provinces: Río Negro, Neuquén and La Pampa, where merchants have already been banned from manipulating their customers’ cards.
In this regard, Federico Cofman, Country Manager of Mastercard Argentina and Uruguay, stated: “We know that these types of measures have produced excellent results in the provinces where they have been implemented. Everything that is proposed contributes greatly to raising security standards , improve and reduce the times in which you can pay, without having to use the card.Argentina is the single country of the region where you will buy any product and they ask you for the document. All these changes will enable an experience more agile and safe both for businesses and for card holders“.
Source: Clarin
