Pesce Met with Mastercard Executives

The President of the BCRA, Miguel Pesce, has met today with Federico Cofman, Mastercard’s Country Manager for Argentina and Uruguay, and Gonzalo Plecity, Mastercard’s Director of Public Policies for the Southern Cone. They discussed the increase in transactions recorded since the company decided to provide its foreign users with the benefits of a better exchange rate for the settlement of expenses incurred in Argentina with Mastercard Credit, Mastercard Debit and Mastercard Prepaid cards issued abroad.

During the meeting, they also talked about the development of electronic payments and ways to take advantage of digital means of payment for the financial inclusion of consumers and stores, especially small- and medium-sized ones.

In the first week following Mastercard's implementation of the refund of the exchange rate difference, transactions increased 25% in amount and 28% in volume. As established by the BCRA, payment card operators (credit, debit and prepaid cards) are not required to settle in the forex market foreign currency amounts from purchases made by users in Argentina, thereby being able to offer a better exchange rate to foreign tourists.

December 12, 2022

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