- Fintech products for tourists: opportunities for expansion, revenue diversification, and customer loyalty
Fintech wallets have become a crucial tool for facilitating cross-border transactions in Latin America. Beyond the convenience for consumers, these products represent a strategic opportunity for fintechs and banks. Below, we review some of the leading digital wallets that are leveraging the flow of payments in the tourism sector by offering tailored solutions.
Blex: payments with pix
Blex is an Argentine wallet that allows payments through the PIX network, the major payment system (even street vendors on the beach accept it in Brazil). Tourists can pay via the platform using a QR code. The PIX network, which is present throughout Brazil, accepts this payment method without the need to download any additional apps. There are no commission fees for payments, and the transaction is credited immediately.
Fiwind: Multi-currency payments
Fiwind is a fintech offering a service that allows users to open a bank account in the United States and transfer funds from U.S. bank accounts and services like Payoneer, Deel, Upwork, and Airbnb. It also facilitates payments through PIX.
Revolut: Multi-currency solution
Revolut has set a standard in international payments with its multi-currency model and minimal fees. The recent addition of physical ATMs in key cities shows how a fintech can evolve from being a 100% digital service to a hybrid operation in order to capture new market segments. Ideal for travelers heading to Europe, it also works well in Mexico and Brazil.
Belo: crypto solution
Belo is an app that allows payments in Brazil with Brazilian reais, using Argentine pesos or cryptocurrency (USDT and USDC). To make payments, users must scan the Pix QR code. One of the main advantages of Belo is that it helps save on additional costs applied in Argentina for overseas purchases (the retention for the Income Tax). Tourists can load Argentine pesos or cryptocurrencies.
Fintech wallets for tourism: expansion, revenue diversification, and customer loyalty
Fintech wallets in tourism represent opportunities for expansion, revenue diversification, and customer loyalty. The key is to create solutions that combine technology, strategic partnerships, and an international market-focused approach to capture a significant portion of the growing volume of cross-border payments.
