Starting this Friday, Argentinians will be able to make payments in dollars at a variety of businesses using debit cards and virtual wallets, even in installments.
This measure, promoted by the Central Bank of the Argentine Republic (BCRA), aims to encourage currency competition in the local economy, allowing both pesos and dollars to be used interchangeably in the market.
How will dollar payments work?
With the implementation of this new regulation, businesses that wish to do so will be able to accept payments in dollars via debit cards and virtual wallets. This will allow consumers with bank accounts in dollars to pay directly in that currency, without the need for conversion to pesos or additional tax costs.
According to BCRA's regulation A-8180, dollar payments with debit cards will be available for businesses that choose to accept them, but they will not be mandatory. This will create a scenario of currency competition, providing consumers with the option to choose in which currency to pay. Additionally, payment processors have had to adapt their systems to allow these transactions to occur smoothly.
What can be purchased with dollars?
Initially, the acceptance of dollars will occur in sectors where their informal use was already common. Among them:
- Tourism: Dollar payments will be formally enabled for national and international services, including travel agencies and tickets.
- Real estate: The purchase and rental of properties in dollars can be formalized through the new payment systems.
- Appliances and durable goods: Some stores are evaluating implementation, but high-value goods are expected to start offering this option.
- Retail: Supermarkets and retail stores are in the process of adaptation, although widespread use is not expected in the short term.
As the new modality progresses, other sectors may join the trend, although implementation will be gradual.
