Commuters can now add cash balance to their SUBE travel cards with Bitcoin in 37 locations across Argentina. This is due to a partnership between Alto Viaje, which provides the travelcard loading facility, and Fintech company Bitex.
For Bitcoin, this may be a baby step, but it’s a huge leap for crypto-kind. The convergence of payments for products and services from Bitcoin and cryptocurrency is quite ordinary.
But to be presented to such a diverse and comprehensive cross-section of the population as metro and bus riders is the impressive thing about it.
This is a substantial endorsement for Bitcoin and a significant push into the mainstream. As CMO of Bitex, Manuel Beaudroit, explained:
“We believe that this type of project is of great importance since it brings technology as disruptive as bitcoin to the common people, demonstrating the true value and the applications it has in everyday life.”
At all sub-stations, national lottery outlets and at some kiosks with automated terminals, SUBE cards can be upgraded with credit. The SUBE website has a map of SUBE vendors to find the closest point of sale. Alto Viaje ‘s main objective was to make the process of card loading as accessible as possible. The platform only accepted PayPal before adding bitcoin payments. But payments via local payment provider, RapiPago, will also be processed soon.
Partnering with Bitex enabled it to offer Bitcoin top-ups in a secure and tested infrastructure. Director, Luciano Verardo, said:
“we want to offer safe and innovative services, the alliance with Bitex allows us to integrate payment with bitcoins and new possibilities of financial inclusion…”
Argentina is actually in the middle of a financial crisis, many of which are very concerned about inflation rates. As a way to preserve their wealth, an increasing number of citizens have turned to bitcoin. Volumes of LocalBitcoins are rising in the country, and the number of Bitcoin ATMs has grown in recent months.
