# Argentina — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/AR
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **Transferencias 3.0** interoperable QR (BCRA)
- **MODO** 35+ bank coalition
- **Mercado Pago** 4.7M+ users
- **50%+ growth** first week launch
- **0.8% cap** merchant commission

## Banking landscape

### Central Bank
- **Name:** Banco Central de la República Argentina (BCRA)
- **Website:** https://www.bcra.gob.ar/
- **Role:** Monetary policy, payment standards

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Banco de la Nación | State | BNA+ |
| 2 | Banco Galicia | Private | Galicia Move |
| 3 | Banco Santander | International | Santander App |
| 4 | BBVA Argentina | International | BBVA App |
| 5 | Banco Macro | Private | Macro App |

### Market Structure
- **MODO:** 35+ bank platform
- **Mercado Pago:** Fintech leader
- **CBU/CVU:** Account identifiers
- **High inflation:** Economy context

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| Transferencias 3.0 | BCRA | Interoperable QR | Active |
| MODO | Bank Coalition | P2P/QR | Active |
| Debin | BCRA | Direct debit | Active |
| COELSA | Banks | ACH | Active |

### Transferencias 3.0
- BCRA launched Nov 2021
- Universal QR interoperability
- Any wallet, any QR
- 25-second settlement max
- 0.8% merchant commission cap

### MODO Platform
- 35+ financial institutions
- December 2020 launch
- Account-to-account transfers
- In-store QR payments
- Bank account integration

---

## QR code standards

### BCRA Interoperable QR

| Attribute | Value |
|-----------|-------|
| **Standard** | Transferencias 3.0 |
| **Regulator** | BCRA |
| **Launch** | November 2021 |
| **Settlement** | 25 seconds max |

### QR Interoperability
- Universal wallet acceptance
- Any app reads any QR
- Merchant-agnostic
- Instant crediting
- Commission regulated

### Major QR Providers

| Provider | Users | Merchants |
|----------|-------|-----------|
| Mercado Pago | 4.7M+ | 1.5M+ |
| MODO | 35+ banks | Growing |
| BNA+ | Bank users | 5,200+ locations |

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Mercado Pago | MercadoLibre | Yes | Full wallet |
| MODO | Banks | Yes | Multi-bank |
| BNA+ | Banco Nación | Yes | Banking |
| Cuenta DNI | Banco Provincia | Yes | State bank |

### Mercado Pago Dominance
- Pioneer in QR payments
- 4.7M+ active users
- 1.5M+ merchants
- E-commerce integration
- Lending services

### Growth Statistics
- 50%+ growth first week
- 52.58% transaction increase
- $78B market by 2025
- POS still 69% of sales

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [Transferencias 3.0](https://docs.barcoder.ai/docs/payments/AR/transferencias-3-0) | Interoperable QR | BCRA | National | [`transferencias-3-0`](https://docs.barcoder.ai/docs/standards/transferencias-3-0) |
| [MODO](https://docs.barcoder.ai/docs/payments/AR/modo) | Multi-bank QR | Coalition | 35+ banks | [`modo`](https://docs.barcoder.ai/docs/standards/modo) |
| [Mercado Pago](https://docs.barcoder.ai/docs/payments/AR/mercado-pago) | Proprietary | Fintech | 4.7M+ | — |

## Sources

- [BCRA - Transferencias 3.0](https://www.bcra.gob.ar/Noticias/transferencia-3-0-preguntas-respuestas.asp)
- [Transfi - Argentina Payments](https://www.transfi.com/blog/argentinas-payment-rails-how-they-work---from-cbu-cvu-to-qr-payments-digital-wallets-in-a-volatile-economy)
- [El Cronista - QR Growth](https://www.cronista.com/finanzas-mercados/transferencias-3-0-las-operaciones-de-pagos-con-qr-interoperable-crecieron-mas-de-un-50-desde-su-lanzamiento/)
- [Bloomberg Línea - Launch](https://www.bloomberglinea.com/2021/11/29/transferencias-30-el-sistema-interoperable-de-qrs-ya-funciona-en-todo-el-pais/)

## Full country report

[AR-argentina.md](https://docs.barcoder.ai/docs/payments/AR)