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Payment in Argentina Follow the Money Report

Opportunities for Change

The Argentinian payment landscape is undergoing significant transformation, with investments and strategic moves highlighting key opportunities for change across the value chain. These opportunities are largely driven by technological advancements, evolving consumer preferences for digital solutions, and regulatory initiatives aimed at fostering competition and financial inclusion.

Based on the analysis of M&A activities, investment and funding movements, and the impact of new entrants and disruptors, the following opportunities for change are currently receiving investment and attention:

  1. Consolidation and Modernization of Core Processing and Acquiring Infrastructure:

    • Investment Driver: Strategic acquisitions like Fiserv's purchase of Posnet and Prisma Servicios Tecnológicos indicate a move towards consolidating and modernizing the underlying infrastructure for transaction processing and merchant acceptance. [M&A Movements Analysis]
    • Opportunity: This presents an opportunity for enhanced efficiency, the introduction of new technologies (e.g., SoftPOS by acquirers like Getnet and Fiserv), and integrated service offerings for merchants. [Investment and Funding Movements Analysis], [M&A Movements Analysis] Investments are focused on strengthening the technological backbone of the payment system.

  2. Expansion of Digital Payment Initiation and Account Provision:

    • Investment Driver: Significant funding rounds for fintechs like Ualá and Naranja X, coupled with internal investments by established players like Mercado Pago, are fueling the growth of digital wallets, mobile payment solutions, and the issuance of digital accounts (CVU) and associated payment instruments (prepaid cards). [Investment and Funding Movements Analysis], [New Entrants and Disruptors Analysis]
    • Opportunity: This creates opportunities to cater to a growing user base seeking convenient, mobile-first payment experiences. The focus is on financial inclusion and providing alternatives to traditional banking services, particularly in payment initiation and account/instrument provision. [New Entrants and Disruptors Analysis]

  3. Enhancement of Merchant Acceptance Networks and Services:

    • Investment Driver: Investments by acquirers like Getnet (Santander) in modern acceptance solutions (SoftPOS, Tap-to-Phone) and Mercado Pago's continued expansion of its MPOS and QR code network, alongside Fiserv's consolidation in this area, highlight a focus on expanding and upgrading how merchants accept digital payments. [Investment and Funding Movements Analysis], [New Entrants and Disruptors Analysis], [M&A Movements Analysis]
    • Opportunity: There is a clear drive to increase the penetration of digital payment acceptance, especially among SMEs, offering them more choice, potentially lower costs (driven by competition and A2A payment rails), and improved services. This includes innovating on the point-of-sale experience.

  4. Development and Strengthening of Interoperable Payment Ecosystems:

    • Investment Driver: While not direct corporate investments, regulatory initiatives like Transferencias 3.0, which mandate interoperability for QR codes and immediate transfers, are forcing and enabling investment by all players (banks, fintechs) in systems and processes to support this open environment. [New Entrants and Disruptors Analysis] Investments by global schemes like Visa (establishing local operations) and Mastercard (network expansion) also contribute to network capabilities. [Investment and Funding Movements Analysis]
    • Opportunity: This fosters an environment where Account-to-Account (A2A) payments can thrive, offering a low-cost alternative to traditional card payments and promoting innovation in services built upon real-time payment rails. The focus is on creating a seamless and competitive payment experience across different providers.

  5. Investment in Technology and Infrastructure for Digital Transformation:

    • Investment Driver: Across the board, players are investing in upgrading their technology platforms. This includes fintechs building agile, cloud-native solutions, established processors consolidating and modernizing their systems, and banks developing proprietary digital solutions (like Modo, backed by a bank consortium). [Investment and Funding Movements Analysis], [New Entrants and Disruptors Analysis]
    • Opportunity: This signifies a broad shift towards digital-first operations, leveraging data analytics, AI for fraud prevention, and mobile technologies to enhance service delivery, improve user experience, and manage risk in an increasingly complex digital environment.

In essence, investments are flowing into areas that promise to make payments in Argentina more digital, inclusive, efficient, and competitive. The opportunities lie in modernizing legacy systems, expanding access to digital financial tools for both consumers and merchants, fostering interoperability, and leveraging technology to create innovative payment solutions.

Key Findings

Opportunity for Change Key Investment Drivers & Activities Impacted Value Chain Steps
Consolidation & Modernization of Core Processing & Acquiring Fiserv's acquisition of Posnet & Prisma Servicios Tecnológicos; Getnet's investment in SoftPOS/Tap-to-Phone. Transaction Processing, Acceptance & Merchant Services, Technology & Infrastructure Provision.
Expansion of Digital Payment Initiation & Account Provision Funding for Ualá, Naranja X; Mercado Pago's platform development; Growth in CVU accounts and digital wallets. Payment Initiation & Authorization, Account & Instrument Provision, Technology & Infrastructure Provision.
Enhancement of Merchant Acceptance Networks & Services Getnet's merchant acquisition drive; Mercado Pago's MPOS & QR expansion; Fiserv's enhanced merchant offerings post-acquisition. Acceptance & Merchant Services, Payment Initiation & Authorization.
Development of Interoperable Payment Ecosystems Regulatory push (Transferencias 3.0); Investments by players to comply and compete in an interoperable environment; Visa & Mastercard network investments. Scheme Management & Network Operation, Clearing, Payment Initiation & Authorization, Transaction Processing.
Investment in Technology for Digital Transformation Fintechs building cloud-native platforms; Banks developing digital solutions (e.g., Modo); General upgrades to support digital channels, AI, and data analytics across the payment ecosystem. Technology & Infrastructure Provision (impacting all other steps), Regulation & Oversight (compliance tech).

References

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  • Banco Central de la República Argentina. Informe de Inclusión Financiera. https://www.bcra.gob.ar/Pdfs/Comunicaciones/Informe%20de%20Inclusion%20Financiera.pdf
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  • Latam Fintech Hub. “Paytechs, los nuevos eslabones clave de la cadena de valor…” https://latamfintech.io/blog/paytechs-los-nuevos-eslabones-clave-de-la-cadena-de-valor-en-los-pagos-digitales/
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  • Mastercard Newsroom. 10 top payments trends for 2025 — and beyond. https://www.mastercard.com/news/global/en/newsroom/press-releases/en/2024/december/10-top-payments-trends-for-2025-and-beyond/
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  • Visa Press Release. “Visa establece operaciones en Argentina.” https://visa.la/about-visa/newsroom/press-releases/nr-la-ar-20231121.html
  • Market Players Analysis. (Internal Document)
  • Strategic Priorities and Investments Analysis. (Internal Document)
  • Value Chain Report on the Payment Industry in Argentina. (Internal Document)
  • Porter's Six Forces Analysis. (Internal Document)
  • M&A Movements Analysis. (Internal Document)