Argentina Payments Industry Overview
The Argentina Payments market is fragmented, with a significant number of players. However, a few prominent players in the market, such as PayU, occupy a considerable market share. The market is characterized by strong competition, with each player attempting to increase their profits. To expand their shares on the market, operators like PagoFacil or RapiPago are also seeking to do so. As such, the market players are undertaking various strategies, such as enhancing the product portfolio, among various others. Moreover, the growing e-commerce industry also encourages the development of payment methods nationwide.
In July 2023, Carrefour, through its Financial Services Bank (BSF), announced the launch of its new Mastercard prepaid card for its customers. To obtain the Mastercard prepaid card, customers download the My Carrefour Card app, register with their data, and immediately have the digital version to be able to operate with face-to-face payments with QR in Carrefour stores and virtual payments in any e-commerce through the app. they can also pause or block the card and monitor their consumption in real-time.
In June 2023, PayPal introduced Passkeys for Apple and Android devices in the United States as a new, easy, and secure login method for PayPal users in that country. They are Expanding passkeys for eligible customers in select Latin American markets with Apple devices and Android operating systems, where Passkeys allow users to securely log in to PayPal without entering a password. Instead, the user's identity is verified with biometrics or a device password so they can log in quickly and securely.
Argentina Payments Market Leaders
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Servicios Electronico de Pago SA (PagoFacil)
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Rapipago (GIRE S.A.)
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PayU Argentina
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Paysafe Limited
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Google Pay
- *Disclaimer: Major Players sorted in no particular order
