“As of December 15, 2022, to comply with the provisions of the Central Bank of the Argentine Republic, and after having worked together with the BCRA, issuers, acquirers, processors and the financial ecosystem, the solution has been implemented that benefits foreign tourists who use Visa cards,” said the company in a statement to which Télam had access.
In this regard, he pointed out that this solution “will allow the corresponding exchange rate to be applied at the moment of the transaction without having to wait several days to receive a refund.”
By provision of the BCRA, payment card operators (credit, debit and prepaid) are not obliged to settle in the exchange market the currencies that must enter to settle the consumption of their users in the country, which allows offering a better exchange rate for foreign tourists.
As Télam was able to confirm from market sources, the companies Mastercard and Cabal had already agreed since last week with Prisma -the country’s main card payment processor- the possibility that its non-resident users in Argentina can pay with their consumer cards in pesos at an exchange rate with the dollar close to $320 instead of the $178 (retail official) that they had hitherto.
In this way, the regulations made by the Central Bank at the beginning of November are put into operation, as a way to facilitate their operations and prevent them from going to change their bills for cash in the informal market and, in addition, allows a greater formalization of the receptive tourism expenses.
The measure – provided through Communication “A” 7630 – exempts from settlement in the exchange market payments made by “non-residents through debit, credit, purchase or prepaid cards issued abroad.”
This implies that all charges for any tourist service in the country contracted by non-residents, including those from wholesale and/or retail travel and tourism agencies in the country or charges for passenger transport services to the country by land , air or water, will be able to access an exchange rate 85% higher than the one they currently accessed.
The procedure allows the dollars with which tourists pay to be exchanged for pesos through the financial market, instead of in the wholesale market, and then these pesos are used to pay businesses or services with the MEP dollar exchange rate. calculated “with the most liquid bonds”.
Source: Ambito
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