The BCRA Authorized the Chinese Credit Card Issuer UnionPay to Implement the Financial Dollar Rate to Purchases

The BCRA authorized UnionPay to implement a differential exchange rate to all payments made by its customers during their stay in Argentina for consumptions on credit cards issued abroad.

As from July, UnionPay is governed by the BCRA's regulations, which authorize to implement the financial dollar rate to non-residents' purchases made on credit cards issued abroad.

UnionPay has requested the Chamber of Credit and Purchase Cards to join the protocol, signed in December 2022 by acquirers and processors of acquirers and issuers of international brands, on the calculation, updating and application of the implicit exchange rate for purchases made on credit cards issued abroad, under Communication A7630.

UnionPay is a credit card trademark with presence in 182 countries, and Argentina is one of the most favorite destination.

June 15, 2023

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