In spite of Rich One's vague references, I was able to discover a little more about this system.
When I read 'the system first came from Kenya' I was immediately suspicious, bearing in mind the millionaire-inheritance email scams that emanate from that continent.
However, although I can't find anything on
Banco Nacion's website (Banco de la Nación if I'm not mistaken), there are two articles that explain the system further:
Clarin PIM
La Nacion PIM
More information at PIM's website
If you're prone to reading readers' comments, you'll find the usual Argentine scepticism, however with the new AFIP measures where all self employed/small businesses are obliged to accept payment by credit/debit cards, one might deduce that Argentina is moving towards a cashless society. It's also worth pointing out that you can no longer pay your income tax to AFIP with cash any more; but Argentina cashless? That will take some time.
I already use MercadoPago to top up my mobile phone on the move and in spite of my Mercadolibre reservations, let's face it, it is the way to go.
Contactless credit cards, chip and pin are very widely used in Europe and paying with your mobile phone is simply an extension of this, the main advantage being that you don't need a bank account with this PIM system.
Topping up the PIM account is key for usability, as queueing up at the dwindling amount of Rapipago outlets nowadays is depressing and time consuming.
I'll probably give this a go once I'm satisfied that there are enough outlets- kioskos etc - jumping on board. You know what Argentine small businesses are like with their cash obsession.
Good find.
