The exchange rate continues to influence the plans of Argentines and some international companies operating in the country. Now it’s the turn of Grabr, an international platform for exchange between travellers which announced to its users in Argentina that, due to the new exchange rules, it will not allow them to continue buying in Argentine pesos, and that will only accept payments in dollars, with debit or credit cards. Previously, the sale appeared in pesos on the e-card billing is now in US currency,
Grabr model is based on “commissions“: The app connects users in one country with people planning to travel abroad, who do sort of “courier” of your purchases abroad. As a “reward,” the platform allows these travelers to monetize those shipments, with “rewards” between 10% and 20% of the value of the selected products.
“The traveler buys the product with his own money with which it ensures that this product is legal and safe to carry, and even if you have a card that adds miles or points to every purchase, you can redeem them,” they explained from the company. “Your responsibility is to take care of the product up to the delivery and you can carry as many orders as the free space in your suitcase allows”.
The proposal became interesting for people who wanted an imported product without going through the customs filter, and related costs. Even for those looking for products that “no longer arrive” in the country, due to the importer’s stocks. Even with Argentines traveling abroad, who benefited from a few extra dollars.
“All orders are posted on the Grabr website or app, so there is no physical exchange of moneyand there is also a built-in messaging system for you both parties can contact directly within the application,” the company clarified.
According to data that the same company, present in 14 countries around the world, released earlier this year: “During 2022, tourists earned more than 845,000 US dollars traveling with Grabr, added more than 45,000 trips to the platform and delivered more than 230 thousand orders in 160 countries.The most chosen products were not only electronics, but also skin care products, supplements and vitamins, makeup, clothing and even the food“.
Currently in Argentina they have 300,000 customers. Average consumption this year is US$200 per person.
A “pause” in the operation with weights
Now, the company has surprised its customer base in Argentina with a curious change. “Because of new government regulations, We are temporarily suspending payments in Argentine pesos and we are working on a new solution.”
The company has informed its users that after these changes their purchases will be made to the value of the “paper dollar”“Qatar dollar”, as applicable, with a 100% tax burden, “since Grabr is cataloged as a digital service in Argentina,” they explained. Although the tax burden exceeds 100%, they have ensured in the app that some taxes, such as profits and personal property, can be refunded.
The company has ensured that, despite these administrative changes, it will continue to operate in the country. But he closed his communication with his users with a curious caveat: “The government could adjust the official exchange rate in a few weeks. If you’re considering buying, you may want to consider buying first to lock in the current exchange rate.”
Last March, the platform unveiled its fintech leg GrabrFi in the country, which allowed users in Argentina open your account with a financial institution in the United States and had been inundated with requests.
Source: Clarin
