New Visa card for purchases with cryptocurrencies in Argentina
Cryptoasset company Ripio operating in Argentina and Brazil, has launched its new Visa card, Ripio Card, for online payments.
It is the first payment solution offered by the company to Argentines.
This card, developed in collaboration with Pomelo, the company responsible for the Ripio Card payment processing technology, allows the purchase of goods in physical and online stores with cryptocurrencies and Argentine pesos.
According to Ripio, these two available payment methods avoid transferring and converting cryptocurrencies to local currency and vice versa, hindering the smooth flow of daily transactions.
HOW DOES RIPIO’S NEW VISA CARD WORK?
The card’s usage policy favors its use for cryptocurrency payments: A 3% cashback is automatically granted for every cryptocurrency transaction.
The buyers will receive three percent of the amount spent in the stable cryptocurrency USDC back into their account.
The cashback, with a monthly limit of $10,000, is available until March 31 this year and applies only to Argentine customers.
The balance of the account linked to the card can be topped up traditionally: bank transfer, Mercado Pago, or cash (Rapipago Online or Pago Fácil).
To access the card, the user must download the Ripio mobile application and open an account.
RIPIO MOVES TO THE AMERICAS
Ripio’s new proposal was announced last year and first introduced in Brazil in August.
This service for Argentina is part of a series of Ripio initiatives for the Americas, including the launch of “Mercado Coin” in Brazil and the acquisition of a license to operate in the United States.
In addition, the company is expanding its operations in Colombia, Mexico, and Uruguay.
According to Gabriela Renaudo, spokeswoman for Visa Argentina, the new joint solution with Ripio is exactly what the young Argentine population has been waiting for.
“According to Visa studies, one in four young people of Generation Z choose cryptocurrencies as an investment, so it is very positive that a solution like this is an option for them and different types of consumers,” she said.
Live Market IntelligenceArgentina — Live Market Board
Rio Times · Live Market Intelligence
Argentina — Live Market Board
-0.72%
175,664.62
+0.30%
65,561.46
-0.41%
11,445.90
-0.22%
2,979,472
-0.72%
2,457.87
-1.28%
60,779.49
-1.40%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| MERVAL | 2,979,472 | -0.72% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| YPF | 7,810 | +0.26% | +72.84% | 7,790 | 7,850 | 7,600 | 1,763,858 |
| GGAL | 6,980 | -0.78% | +1.82% | 7,035 | 7,115 | 6,920 | 1,564,062 |
| PAMPA | 5,115 | +0.69% | +26.70% | 5,080 | 5,140 | 5,000 | 721,190 |
| TXAR | 747.50 | -2.35% | +18.67% | 765.50 | 770.00 | 742.50 | 771,892 |
| ALUAR | 938.00 | -1.21% | +29.83% | 949.50 | 951.00 | 932.50 | 135,426 |
| TGS | 8,870 | -0.17% | +15.05% | 8,885 | 9,075 | 8,720 | 143,546 |
| CEPU | 2,156 | +1.84% | +28.36% | 2,117 | 2,165 | 2,086 | 404,146 |
| MIRGOR | 1,650 | -1.20% | -92.90% | 1,670 | 1,670 | 1,635 | 20,877 |
| COME | 40.93 | -0.73% | -30.47% | 41.23 | 41.60 | 40.50 | 4,258,884 |
| LOMA NEGRA | 3,130 | +0.08% | +5.80% | 3,128 | 3,205 | 3,090 | 182,992 |
| BYMA | 275.00 | -1.70% | +35.14% | 279.75 | 282.50 | 272.00 | 1,409,575 |
| TELECOM ARG | 4,233 | -0.70% | +55.19% | 4,263 | 4,335 | 4,160 | 31,896 |
| GLOBANT | 38.10 | -2.26% | -49.65% | 38.98 | 38.70 | 36.77 | 793,552 |
| MERCADOLIBRE | 1,870 | -3.59% | -20.71% | 1,940 | 1,927 | 1,870 | 329,640 |
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