Argentina🇦🇷… The country's most popular payment platform has finally reached an agreement with the interbank digital wallet Modo.

Argentina🇦🇷… The country's most popular payment platform has finally reached an agreement with the interbank digital wallet Modo.

Interoperability in QR payments with cards!❗️Modo and #MercadoPago have been rivals for a long time. However, now, once the system is implemented, all QR code readers will have to accept payments from any wallet, regardless of the brand (until now this format was only used in P2P).

➡️ Until now, Mercado Pago's QR reader only accepted card payments if the card was loaded in the Mercado Pago wallet. The Central Bank regulation nullified this exclusivity and forced the company to open its network.

➡️ Modo is a digital application used by 36 Argentine banks.

➡️ A crucial point of the agreement was the delimitation of responsibilities in case of fraud.

➡️ Mercado Pago will assume the operational costs of its network without receiving payments for the use of its infrastructure, as initially planned.

According to statements from Mercado Pago representatives to local media, technical issues need to be resolved for the mass implementation of the service. Knowing how things usually work in Argentina, the process could take a while…

#news #Argentina

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