Tourists May Pay with Electronic Wallets at the Exchange Rate of "Financial" Dollars

Purchases made by foreign tourists through electronic wallets involving a debit from their bank or virtual accounts may also be settled at an exchange rate that will have "financial" dollars as reference. This regulation, effective as from May 5, 2023, provides that the exchange rate applied to QR code payments made through a foreign wallet will be equal to that applied to payments made with debit and credit cards.

The foreign administrators of these wallets will have to enter into agreements with local administrators in order to provide their financial users with this benefit when making QR code payments in stores across Argentina.

The following service transactions were already receiving this benefit:

· Purchases made by non-residents through debit, credit, purchase or prepaid cards issued abroad.

· Any type of tourist services in Argentina hired by non-residents, including services hired through wholesale and/or retail travel and tourism agencies in Argentina.

· Land transport services for non-resident passengers traveling to Argentina.

May 4, 2023