Even if the Central Bank wanted to promote fixed-term digital certificates (CEDIP), a new functionality that will allow you to divide, turn over, transfer the banking placements preferred by Argentines, so that This savings tool becomes another form of digital paymentthese hardly take off.
Last Thursday, in the midst of a series of macro measures, among which a new reduction in the economy’s reference rates stood out, the organization chaired by Santiago Bausili released a notice exempting banks from the obligation to issue such certificates of electronic fixed terms.
With communication A 7989, the Agency established that institutions are obliged to receive this type of deposits and instructed the payment system and clearing houses on their functioning, while clarifying that the issuance of these instruments will be “optional for any financial institution that accepts deposits.” The introduction of this single word reveals a long negotiation with the banking sector, which opposed the creation of these new digital certificates.
Cedip appeared in the Miguel Pesce era as a form of “channel savings into pesos and discouragedollarization.” Among the new features, the organization explained that, for example, it will be possible to transfer ownership of a fixed term, so that it can be used both as a means of payment, to cancel obligations between people or companies, and to be exchanged on the market equity, as happens today with electronic invoices or checks.
Since the rule that announced its creation, in January 2023, its entry into force had occurred three times. Last week, two directors of the monetary authority announced that this time the effective date will remain the same: They should start circulating starting May 1st Next.
However, the banks consulted by Clarín acknowledged that they exist “technical and commercial difficulties” which make the arrival of these tools difficult. In a survey conducted by this newspaper among the most relevant bodies in the country No one was found who was working on issuing these certificates, although several bodies have stressed that the development is being carried out “against the clock” and that the standard will be met “with limited functions”.
This way, The banking sector has won another battle in the long conflict it has with fintech. As Clarín published, the Central will force virtual wallets to accept credit cards as a form of payment through the interoperable QR that the organization launched almost 4 years ago, at the same time it will disable their financing through Debin and replace it with “transfers pull”, a feature promoted by banks.
These last two points have been widely opposed by the giant Mercado Pago. Although the fintech founded by Marcos Galperín has not raised any objections for now, the company has already launched its offensive against the banks. On Friday it announced that it wanted to channel the collection of ANSeS social plans through the app. At the same time, official sources have anticipated that they are working with wallets to allow the collection of pensions in this way, something that so far is only the responsibility of the banks.
SN
Source: Clarin
