Bitso will enable crypto payment with QR Code in Argentina for tourists

Mexican brokerage Bitso will enable cryptocurrency payment via QR Code in Argentina for all its Latin American customers.

The focus of the new feature is to allow foreigners traveling to Argentina to be able to pay travel expenses with crypto and not need to use exchange houses during their stay in the country.

The new service will support the cryptocurrencies bitcoin (BTC), ether (ETH), dollar-linked stablecoins, and dai (DAI).

Bitso’s platform does the automatic conversion into pesos to pay the merchant who generated the QR Code, so the shopkeeper does not need to accept payment in digital currencies for the transaction to take place.

Today, Bitso already offers this solution to Argentinean citizens.

In Argentina, around 59% of people have made QR Code payments this year, according to Mastercard’s New Payments Index global survey.

The country is the region’s leader in this payment method.

“Most restaurants, supermarkets, and stores, in general, accept QR payments. By enabling this product for foreigners visiting Argentina, we are contributing to their money not losing value,” Santiago Alvarado, senior vice president of products at Bitso, says in a statement.

“Now, travelers will no longer need to go to a currency exchange office to obtain Argentine pesos in cash and will be able to pay with cryptocurrencies in seconds, with a contactless experience and the ease of using a cell phone,” he adds.

With information from Valor Econômico