Within the framework of the recent measure taken by the Central Bank, which enabled the implementation of the stock exchange rate for payments with virtual wallets. Brazilians will be able to pay with a QR code in Argentina using Pix.
Ahead of the winter holidays, the financial services company Fiserv announced in Brazil that users of the PIX virtual walletthe digital payment system established by the state of that country in 2020 and which is the most popular means of transaction there, will be able to use the functionality of payment with QR in Argentine stores shortly.
This occurs within the framework of the recent measure taken by the Argentine Central Bank (BCRA) to extend to virtual or digital wallets (of banks and fintechs) the modality of taking the stock dollar as a reference to settle the cancellation of balances at the price of the financial dollar (at the value of the MEP).
Let us remember that, in December of last year, the implementation of the measure that authorized the international cards to implement for non-residents in the country a differentiated exchange ratewhich takes as reference the price of the MEP dollar and not the official one, as it was up to that moment.
Dollar for foreigners: a BCRA rule enabled it
In May of this year, meanwhile, the standard was extended to electronic payments and, in this way, the consumption of foreign tourists made through electronic wallets that imply a debit in their bank or virtual accounts can also be settled at an exchange rate that has the stock dollar as a reference.
To this end, the foreign operators of those wallets They must reach agreements with local administrators to be able to transfer to their financial users the benefit of making payments with QR in businesses throughout the country.
Thus, everything would indicate that Fiserv reached agreements with local QR operators (possibly those belonging to the same company), since, although the start date of this possibility has not yet been known, according to the Brazilian media, those who travel from Brazil to Argentina will be able to make transactions with this modality.
The charge will be made in reais and the value of the MEP dollar will be taken as the exchange rate. The Tax on Financial Operations (IOF) rate applied to the exchange and currency conversion operation will already be included in the amount collected.
From Fiserv They assured that, since the company operates in several countries in the region, including Argentina, they are capable of adapting the technologies locally. They also stressed that in this way, Brazilians will not need to buy dollars or pesos in Argentine exchange houses.
Source: Ambito
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