After a turbulent year, crypto wallets operating in Argentina are still looking for ways to acquire clients and expand their businesses. Many have bet “reimbursement”. a promotional strategy with which users are credited with money, both traditional and in digital currency, as a reward for their purchases.
The Mexican Bitso recently announced that it has added for its users in the country “Crypto back”, which rewards purchases made with the wallet QR. Four months ago, Bitso added the option to pay with interoperable QR in stores, which allows users to “scan” the Mercado Pago, Modo or other wallet code.
Now, no matter what currency you choose to make QR payment, be it digital dollars, pesos or cryptocurrencies, which is effective when trading in pesos, the user will receive a refund up to 25% of the total purchase (taxes included) in bitcoins, at random. As explained in the company, this return has a monthly limit equivalent to $15,000 and will be immediately credited to the Bitso user’s account.
“We continue to simplify the daily life of Argentines, not only to protect themselves from inflation and devaluation through the use of digital currencies, but also to pay for their daily purchases with QRs. We are very optimistic about the huge potential this product has for our Argentinian customers,” said Julián Colombo, CEO of Bitso.
Since the launch of QR payment at the end of September, we have recorded very encouraging data. For example, users who used our QR payment product made an average of three monthly purchases,” highlighted Colombo.
Bitso’s bet comes after other players adjusted the cashback rate to ensure the creditworthiness of their businesses.
Franco Bianchi, CMO of Lemon, said: “As the volume of users in a company increases, it is more difficult to maintain a sustainable cashback model in the long term, but it is a effective way for people to have their first contact with cryptocurrencies using weights in their daily life”.
The company founded by two Argentines has already distributed 800,000 plastics in the country and processes 46 transactions per minute. Last November it modified its cashback system and established that for each consumption in pesos or crypto that is made with the card, in addition to receiving a % in Bitcoins, the user will add “energy points” which will allow him to level up to achieve a 4% cashback in bitcoins.
“At the time of announcing this new cashback model in November 2022, we had a brief decline in active users using the card, but this was not represented in the average receipt or number of Lemon transactions. In fact, for the past 30 days we have had 2 million transactions”Bianchi acknowledged.
Meanwhile, the Belo app offers cashback in cryptocurrency ranging from From 2% to 21% of each purchase and the user can choose in which currency he receives it. “It is a random distribution, the percentage of which varies between 2% and 21% of the total value of the purchase. It is received at the time of purchase in the cryptocurrency selected from those available in the app”, explained the company. .
Source: Clarin
