Credit cards in Argentina for temporary residents

[dsp27]

So granted the glut for cheaper consumer credit in this country, what are the business opportunities for something like AfterPay to work in Argentina. But obviously at a smaller scale and finding a way to deal with inflation etc...?

 

[antipodean]

Ahora 12

Hacé tus compras en 3, 6, 12, 18 y 24 cuotas fijas con tu tarjeta de crédito, todos los días de la semana.

www.argentina.gob.ar

A good idea but perhaps up against competition from the state...?
AfterPay is essentially the same as an Argentine credit card (only here you can have 12+ monthly installments also often without interest)

MercadoPago does already offer small credit lines of around $10000 (“MercadoCredit”) to pretty much all users with a DNI to allow you to pay in up to 12 cuotas for purchases on ML or the MP app with anyone that accepts it for payment. To me the interest they want offers no value if you have the means to pay now.

 

[dsp27]

Ahora 12

Hacé tus compras en 3, 6, 12, 18 y 24 cuotas fijas con tu tarjeta de crédito, todos los días de la semana.

www.argentina.gob.ar

A good idea but perhaps up against competition from the state...?
AfterPay is essentially the same as an Argentine credit card (only here you can have 12+ monthly installments also often without interest)

MercadoPago does already offer small credit lines of around $10000 (“MercadoCredit”) to pretty much all users with a DNI to allow you to pay in up to 12 cuotas for purchases on ML or the MP app with anyone that accepts it for payment. To me the interest they want offers no value if you have the means to pay now.

The ahora 12 is — correct me if wrong — limited to large ticket purchases. I guess an AfterPay Argentina would target smaller purchase by consumers. Most Pymes do not accept credit cards but only cash or débito/ML due to the prohibitive fees on credit card transactions. So there has got to be a middle ground.
ML’s credit line comes with a ridiculously high interest rate of like 50% a year.
Which brings an interesting cuestión. Clearly ML have the capital and the infrastructure to impulse a sort of a equivalent of AfterPay system, which would also be hugely beneficial for them as it would increase purchases into their platforms. Now is it that the local regulations just make this not feasible business approach? Or is it that ML have crunched the numbers have decided it makes sense to support the status quo? Or is it something else…

 

[antipodean]

The ahora 12 is — correct me if wrong — limited to large ticket purchases. I guess an AfterPay Argentina would target smaller purchase by consumers. Most Pymes do not accept credit cards but only cash or débito/ML due to the prohibitive fees on credit card transactions. So there has got to be a middle ground.
ML’s credit line comes with a ridiculously high interest rate of like 50% a year.
Which brings an interesting cuestión. Clearly ML have the capital and the infrastructure to impulse a sort of a equivalent of AfterPay system, which would also be hugely beneficial for them as it would increase purchases into their platforms. Now is it that the local regulations just make this not feasible business approach? Or is it that ML have crunched the numbers have decided it makes sense to support the status quo? Or is it something else…

You can get a pair of shoes, a wallet, a tube of toothpaste, a book or a pencil or even a haircut on Ahora 12. As long as it is made in Argentina. The small nature of many of the items covered shows the economic reality of many argentines needing to finance even the most basic of needs out of necessity rather than want. It is also supported by many Pymes especially in lower socio economic areas.

I’m not sure who the target audience of an alternative payment system would be since presumably they would be the same people that are eligible for a tarjeta Naranja or similar.

 

[Alfred_Arnold]

Applying for some/all of the prepaid debit cards might assist as a substitute for a credit card, obviously not for ahora 12 but for your transfer convenience. MercadoPago, Ualá, Banco Del Sol, Wilobank, Brubank, Reba, Naranja, Rapipago....

 

[dsp27]

Applying for some/all of the prepaid debit cards might assist as a substitute for a credit card, obviously not for ahora 12 but for your transfer convenience. MercadoPago, Ualá, Banco Del Sol, Wilobank, Brubank, Reba, Naranja, Rapipago....

I fail to see the benefit. haha. I have two debit cards. The issue is not always having/planning to to have tons of pesos in there. With the devolution as it is I prefer to keep only the amount I need. So it often takes planning.

 

[Kula]

Which bank most likely can issue a credit card for unemployed permanent resident?

 

[lunar]

Which bank most likely can issue a credit card for unemployed permanent resident?

No bank here will extend you a credit line without a proof of income.

 

[Kula]

Officially and according to BRCA rules, only permanent residents and citizens may have access to financing (credit) inside the financial system.

First was only this.

No bank here will extend you a credit line without a proof of income.

If open monotributo can this work as an income?

 

[lunar]

If open monotributo can this work as an income?

6 month paying monotributo taxes probably would be sufficient in most places.
Are you doing all this to be able to buy stuff in quotes?