With the belo app, there’s no need to exchange pesos or dollars for reais anymore, or max out your credit card during a trip to Brazil

Winter vacation is just around the corner and, as usual, many Argentinians are planning their getaway to Brazil; a destination historically popular among travelers for its proximity, climate, and paradise-like beaches

With the multiple exchange rates in force and the economic fluctuations in the neighboring country, a crucial question arises: what is the best way to pay during the trip?  Until recently, people only talked about cash reais and debit or credit cards.

However, the belo app recently launched the feature “Pay with Pix” so users can pay like locals in Brazil; digitally and without worrying about the high tax burden associated with card payments abroad  Below are all the details.

What is Pix?

Pix is an instant payment system developed by the Central Bank of Brazil to make payments quickly and easily. It is currently the most popular and preferred payment method among Brazilians  It works like Argentina’s digital wallets: to pay, you just need to scan the Pix QR code, enter the amount, and you’re done.

Neither card-dollar nor cash: why pay with Pix in Brazil

Paying with cash abroad is easy but comes with risks such as insecurity, accidental loss, and problems with exchanging currency  It also involves challenges such as limits on buying dollars in Argentina, restrictions and fees on ATM withdrawals, and exchange-rate fluctuations.

On the other hand, credit or debit cards are exposed to the risk of cloning, and they also represent a highly expensive option because of the taxes associated with purchases abroad (the famous card dollar, with the 30% PAIS tax and 30% withholding as an advance on income tax).

These issues make using the Pix system through belo the best alternative for Argentinians  The app lets you add pesos or cryptocurrencies and use that balance to pay at any business in Brazil; even beach vendors.

Like any purchase, you just have to scan the Pix QR code and the credit is immediate, with no fees  The digital wallet automatically converts the currency, so the recipient gets reais  This transaction is not subject to the PAIS tax or the 60% AFIP tax; the price you see in the digital wallet before confirming the payment is final.

With this method, purchases in Brazil are simpler, cheaper, and safer  No more exchanging pesos or dollars for reais or using a credit or debit card. For more information, click the button below