Latin America-focused payments firm PayRetailers has secured registration as a payment service provider (PSP) with the Argentine central bank, the Central Bank of the Argentine Republic (BCRA).
This will enable the company to continue delivering payments services to Argentinian consumers and businesses. Pay Retailers detailed that it plans to ‘expand and enhance’ its local operations in line with BCRA regulations.
Alejandro Dall’Ava, PayRetaiers Country Manager in Argentina, commented: “We are proud to announce our official recognition as a Payment Service Provider (PSP – Aggregator) in Argentina.
“This distinction reflects our ongoing commitment to excellence and security in the financial services industry. With this certification, we are poised to deliver advanced and reliable payment solutions that will drive growth and innovation in our market.”
PayRetailers’ registration with the Argentine central bank comes at a significant time both for the nation’s economy and that of the wider Latin American economy, in particular its burgeoning fintech scene.
Latin American fintech at large poses a significant growth opportunity according to some observers. The fintech and payments sectors of Argentina, Colombia and Brazil have been earmarked in particular.
In addition, the gambling sector in Latin America is also set for a significant boost this year, with potential opportunities opening for payments providers.
Argentina is already home to a well-established betting industry, but the wider regional market is due for a major expansion with the forthcoming launch of Brazil later this year.
