Buenos Aires, Feb 11 (NA) – The bid by digital wallets to become an option for salary payments was thwarted after the proposal was removed from the labor reform project. According to information obtained by Noticias Argentinas news agency, the fintech sector sought to challenge banks for control of over 10 million 'salary accounts' in Argentina. Cámara Fintech, which brings together leading digital payment companies, criticized the Congress's decision in a statement. It warned that 'the salary belongs to the worker, and the decision of where to receive it should also belong to them.' Over the weekend, the chambers sent letters to Senate members explaining the risks of including digital wallets for salary crediting. Cámara Fintech stated: 'When there is competition, services improve, costs go down, and the user wins.' They argued for ending a captive salary scheme that guarantees banks millions of accounts without real competition. 'Allowing each person to choose where to receive their salary does not weaken the financial system,' the organization asserted. The business group claimed that 'this discussion was kept out of Congress due to pressure from traditional entities,' adding, 'what was at stake was not the security of the system or financial stability, but something much simpler and more powerful: the freedom of the worker.'
