🎉Argentina🇦🇷: Brazilian tourists will continue to be able to use “Pix”🇧🇷 in the country

🎉Argentina🇦🇷: Brazilian tourists will continue to be able to use “Pix”🇧🇷 in the country

For the second consecutive year during the summer holiday period (January–February in the Southern Hemisphere), the Central Bank of Brazil allows users to make purchases in Argentina using the Brazilian instant payment system #Pix.

🔺 How does it work? — to pay at participating merchants, the customer scans a QR code using their banking application. The merchant receives payment in Argentine pesos, while the customer is charged in Brazilian reais. Banco do Brasil manages the currency conversion from pesos to reais and calculates any applicable taxes, which are displayed to the user when confirming the transaction.

🔺 Participants — the service was developed in partnership with Banco Patagonia, an Argentine bank controlled by Banco do Brasil.

🔺 Context: Pix — developed by the Central Bank of Brazil — enables instant 24/7 transfers without fees for individuals and is supported by approximately 900 institutions and organizations. According to the regulator, the system has more than 170 million users and has become the most widely used payment method in the country.
Argentina became the first international market where Pix began operating as part of the Central Bank of Brazil’s cross-border strategy. Brazil is now considering expanding this functionality to other countries in North and South America, Europe, and Asia, with particular focus on markets with a large Brazilian diaspora.

#news #Argentina #Brazil #world_wide

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