- Fintech that facilitates payments between Brazilian tourists and Argentine merchants
KamiPay is an Argentine fintech that has developed an innovative solution to facilitate payments between Brazilian tourists and Argentine merchants. This solution is based on integrating with Pix, Brazil’s instant payment system, and offers significant advantages for tourists and merchants.
Nearly a million Brazilian tourists visit Argentina annually and spend an average of $800 each. However, Argentine merchants face difficulties in managing payments from these tourists, as commissions, exchange rate differences and delays in crediting payments can lead to significant losses.
KamiPay offers a solution that transforms these difficulties into competitive advantages. Tourists can scan a Pix QR code or receive a link to make the payment in Brazilian reales, as if they were in their own country. The merchant receives the equivalent in digital dollars in their virtual wallet, at a convenient exchange rate, and can also credit it to their bank account in pesos or dollars. In addition, commissions are low and credits are immediate.
Advantages for tourists:
- They can pay in their currency and with a transparent exchange rate.
- They do not need to carry cash or make currency exchanges.
- They avoid commissions for international payments.
- They receive an instant payment confirmation.
Advantages for merchants:
- They receive payments immediately and securely.
- They avoid losses due to exchange rate differences.
- They reduce commissions for card payments.
- They can offer a better shopping experience to Brazilian tourists.
Impact on the future of credit cards:
The success of KamiPay and the growing adoption of Pix in Brazil raise questions about the future of credit cards in the tourism sector. The immediacy, low costs and convenience offered by this type of payment could be a determining factor for consumers and merchants to opt for this new alternative.
About KamiPay
KamiPay is an Argentine fintech founded in 2018. The company offers a wide range of digital financial services, including prepaid cards, money transfers, bill payments, cell phone top-ups and savings accounts. KamiPay stands out for its focus on financial inclusion and accessibility, offering easy-to-use services and competitive rates. The company has experienced rapid growth in recent years and currently has over 1 million users. The company also runs financial education campaigns to help its users better understand the different products and services available.
