Yuyo
Registered
- Joined
- Dec 12, 2022
- Messages
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Hey all,
This will be a longer ramble post, so feel free to ping me with any questions or if I'm missing any details.
(tldr: new payment app better than using western union, no DNI needed, pay by QR code)
So;
I went to the dev-connect convention in Palermo over the weekend and saw some of the new tech showcases.
Lead booth catching my attention, this new payment processor that integrated with mercado pago QR systems called "Peanut".
It's a digital wallet like mercado pago, but it's international and doesn't require DNI to use. I think it's because it's not actually an Argentine processor or bank, but rather any cash you send to the account is converted to USDC crypto 1:1 to USD. From there you can pay by QR code at any store that uses mercado pago QR codes AND GET THE DOLLAR CRYPTO RATE.
I tested it out this morning at carrefour, see screenshot below.
1 USD = 1,479.42 ARS rather than the blue/mep rates1,425 or 1,460 today
(also apparently they have a loyalty points program hence the 20% back I got for first use, not clear on that)
So, all in all, it's a weird meshing of crypto and cash wallet systems. You can verify identity with passport and send cash with a bank wire, or skip ID and go full crypto sending direct with USDC from coinbase or something.
Getting money to it is a little odd, bank option requires sending a wire from your bank with a memo on what ID it should be allocated to. Didn't use the USDC option yet.
(I have fast no fee wires with fidelity, they did fine with it)
Disclaimer: I am no expert on this, but if anyone wants to give it a try for themselves, here's an sign up link that gives extra points toward the cashback points. I think it's an awesome idea and I thought everyone here would like to hear around it.
https://peanut.me/invite?code=YUYOINVITESYOU570
(Yuyo is me, I think I'll request a switch on the forum since I use that more now. My Argentine friends here forced it on my because "English name too hard")
P.S. I think it's cellphone only, makes an encrypted password with face-id or thumbprint. No normal password.
This will be a longer ramble post, so feel free to ping me with any questions or if I'm missing any details.
(tldr: new payment app better than using western union, no DNI needed, pay by QR code)
So;
I went to the dev-connect convention in Palermo over the weekend and saw some of the new tech showcases.
Lead booth catching my attention, this new payment processor that integrated with mercado pago QR systems called "Peanut".
It's a digital wallet like mercado pago, but it's international and doesn't require DNI to use. I think it's because it's not actually an Argentine processor or bank, but rather any cash you send to the account is converted to USDC crypto 1:1 to USD. From there you can pay by QR code at any store that uses mercado pago QR codes AND GET THE DOLLAR CRYPTO RATE.
I tested it out this morning at carrefour, see screenshot below.
1 USD = 1,479.42 ARS rather than the blue/mep rates1,425 or 1,460 today
(also apparently they have a loyalty points program hence the 20% back I got for first use, not clear on that)
So, all in all, it's a weird meshing of crypto and cash wallet systems. You can verify identity with passport and send cash with a bank wire, or skip ID and go full crypto sending direct with USDC from coinbase or something.
Getting money to it is a little odd, bank option requires sending a wire from your bank with a memo on what ID it should be allocated to. Didn't use the USDC option yet.
(I have fast no fee wires with fidelity, they did fine with it)
Disclaimer: I am no expert on this, but if anyone wants to give it a try for themselves, here's an sign up link that gives extra points toward the cashback points. I think it's an awesome idea and I thought everyone here would like to hear around it.
https://peanut.me/invite?code=YUYOINVITESYOU570
(Yuyo is me, I think I'll request a switch on the forum since I use that more now. My Argentine friends here forced it on my because "English name too hard")
P.S. I think it's cellphone only, makes an encrypted password with face-id or thumbprint. No normal password.
