Argentina’s businesses are adopting crypto cards as an alternative payment choice. After analyzing an increased circulation of cryptocurrency in South American countries, many wallets establish agreements with famous entities like Mastercard and offer attractive benefits to customers.
Since last year, only three companies have promoted the crypto cards facilities; Belo became the third company by launching its crypto card this week. However, Belo offered this facility to only 1,000 registered users on a test basis.
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The company expects increased customers to receive crypto cards in both physical and digital form after the successful test period. Therefore, crypto cards will start proper working in the first week of March-2022, and after successful operations of the first phase, the company will provide cards to the waiting customers till the first week of April-2022.
Manuel Beaudriot, CEO and founder of Belo, stated to a local newspaper, “Clairin,” that they planned the current development proposal in December-2021, which fulfilled 1,000 users’ requests during this week. Users can quickly move their funds and cryptocurrencies to improve their capital worth through the company’s website. Moreover, users can easily experience the movement of their digital assets daily.
Cash Rewards To Attract More New Customers
The recent development of increased use of cryptocurrency, mainly through crypto shopping apps astonishing for a few experts like Jack Muller, CEO of Strike wallet, introduced a year earlier.
Crypto cards offer valuable financial benefits to the country experiencing outdated payment networks, hyperinflation, and no international funds transfer facility. Crypto cards provide an open financial network, and particularly bitcoin looks like a ray of hope for the people of Argentina. Crypto Cards attract customers with the same manners as many banks through cashback promos. Customers can get cash rewards if they use a crypto card for shopping, and cash rewards will be directly credited to the customer’s account.
Belo crypto cards offer cashback rewards from 2% to 21% of the shopping amount with a maximum offer of 100,000 Argentina pesos in the form of crypto. Cashback rewards can be awarded in a few specified cryptocurrencies, including Bitcoin, Dai, USDT, or Etherium.
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CEO remarked on the recent development;
The idea is that this is a surprise until the moment of its accreditation, but that it allows savings to be diversified and is a good gateway to the crypto world.
Customer’s Response On Crypto Cards
Fernanda Lloret, vice president of Mastercard Southern Cone, said that the company already has crypto wallet operations in Europe and the United States. The company had been launching a crypto wallet in Argentina for many months. Although many companies were interested in getting this venture, Belo is one of the successful companies for finally tackling the crypto wallet in Argentina. Lloret added that the people of Argentina are eager to use the modern new payment methods, both digital formats and physical stores.
As per the company’s market survey conducted in early 2021, almost 40% of users show their excitement for using digital cryptocurrencies as a payment mode.
I think that if we repeat these studies this year, that percentage will be much higher, especially in the segment of millennials and centennials.
Featured image from Pixabay and Chart from TradingView.com
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