By George Ward
Bitso has introduced the QR payment initiative in Argentina. The QR payment program would make it easy for tourists and travelers to pay for goods and services. One major issue travelers face with cash payments is the diverse Dollar exchange rates.
Bitso crypto firm has introduced a QR-based payment system in Argentina. The latest service is good news for travelers and tourists who visit the country.
The QR payment will utilize Bitso’s interoperable payment tech. This will eliminate the problem of cash payments and the exchange rates which tourists face.
The new service allows customers to use their digital currencies to make payments. In addition, tourists visiting Argentina for the first time do not have to worry about payments.
They can use their digital currencies to pay for goods and services at merchants who accept QR payments.
Meanwhile, Bitso’s main aim is to serve as a gateway for digital payment. The company also wants to eliminate the hassle travelers face. Most times, it is not easy for travelers to exchange their foreign currency for local currency.
Besides, there are over 14 exchange rates for the Dollar in Argentina. The absence of one exchange rate puts travelers at a disadvantage.
Santiago Alvarado, Bitso’s SVP of products, said most shops, restaurants, and supermarkets accept QR payments in Argentina.
“Offering QR payment to tourists visiting Argentina is a good idea. It saves these foreigners the stress of exchanging their foreign currency for the nation’s fiat. Besides, it is easier to make crypto payments with their phone in seconds,” Alvarado added.
Bitso Attempts To Attract Tourists To Its Platform
The SVP said the service would support BTC, ETH, and stablecoins. The app will automatically convert the crypto to the local currency at the point of payment.
This means sellers or merchants will receive their money in Argentine Pesos. In addition, this strategy will allow Bitso to attract the various tourists visiting Argentina to its user base.
Bitso says Latin America’s tourist sector is witnessing a sharp recovery. Searches for places to visit in the region have skyrocketed by 113%.
Bisto announced the addition of QR payment to its services in September. Since then, the crypto exchange has been looking for ways to launch this service in different LATAM states.
Several merchants and stores accept QR payments. Hence, adding QR payment functionality to its platform was a smart move by Bitso.
Besides, Bitso have several users who save their crypto on its exchange platform. The QR payment feature will allow them to use these digital assets to pay for products. It also eliminates the need for cash payment as the world goes digital.
Meanwhile, QR payments have grown dramatically in Latin American countries. Last month, the payment method recorded over three million transactions.