pay with QR They are already a known tool for Argentina. It is less common in the country to use this increased functionality to make payments. cryptocurrency, Starting next Tuesday, when the latest technological development from Bitso, one of the Argentine companies in the region, comes into force, one million people – its users – will be able to make their daily purchases in USD, bitcoin, in any store with a QR. Will be , Ethereum or ICD.
On the other hand, the business that charges the fee will receive Peso for the automatic conversion done by the virtual wallet.
It is possible that any place with a QR can accept cryptocurrency due to a technical but significant change made by the central bank last year. QR became “InteroperablesThis means that it is possible to read any code issued by any entity through any virtual wallet.
Second, the functionality of Bitso allows the buyer to pay in crypto (they will enable four possible tokens for now) and allows the seller to receive the peso. This is through an intermediate operation in which the virtual wallet does currency conversion automaticallyTo transact at a given time, at the current exchange rate.
In addition, the user can pay in Peso like any other wallet. If you choose to pay directly in the national currency, no fees apply. Payment with cryptocurrencies a . Is 0.6% conversion fee.
To get this functionality, Bitso had to meet certain requirements banco central, to enter the network of payment service providers with QR. In addition, the team in charge of development had to call 51 entities to verify that their reader is compatible with the codes that are currently distributed across the country.
“We are used to thinking of crypto as a medium or long-term savings option. But now, with this launch, Argentina can stay in crypto. By adding a QR payment solution to our platform, we are protecting Argentina from inflation and devaluation. We are allowing you to save and spend in crypto on a daily basis with the best exchange rate available in the country. In this way, we extend the benefits of crypto to everyday pocket money,” he stressed. Julian ColomboBitso’s head of public policy, who assured that they are the first in the area to include this functionality.
Argentina is the first market in which the company has launched this solution for its users, as it is the country where the use of this form of payment is most widespread: 59% of Argentines have used QR payments in the past yearThat’s up from 63% in Latin America, compared to an average of 34% in the region, and 83% expected to pay with QRs next year, according to the company.
Since last May, the company has enabled the Bitso+ function, which allows you to get an 8% annual return on balances in eligible cryptocurrencies. Colombo concluded, “Combining both services, all Argentine Bitso users will be able to preserve the value of their money and live in crypto, reaffirming our commitment to making crypto useful to people’s lives.”
