Argentina Plans State Bank Credit Card to Cut Commission Charges
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Argentina is planning to create a credit card issued by state-owned Banco de la Nacion Argentina for purchases at retailers that would agree not to accept cards from other banks, according to Osvaldo Cornide, president of the Confederation of Medium Businesses.
Interior Trade Secretary Guillermo Moreno is studying the creation of the card that would charge retailers 1 percent commission compared with the 3 percent levied by banks, said Cornide, who discussed the plan with Moreno on March 11.