The Argentine Central Bank (“ACB”) issued Communication “A” 6118 (“Communication”), which modified Communication “A” 6037 by providing more flexibility to payments linked to e-commerce transactions. The Communication  amended the requirements applicable for payments performed through payment processors’ entities. It also includes the obligation of the local financial institution to issue, at an exporter’s request, a certification of the funds received or liquidation of funds.

The Communication also incorporated specific regulation allowing payments made by residents to non residents through a payment processor. This new alternative will also increase and accelerate international e-commerce transactions.

For additional information, please contact Gabriel Gómez-Giglio or Francisco José Fernández-Rostello of our Buenos Aires office.