Bitcoin has taken a step forward in becoming further adopted and integrated as a payment option for products and services. In 37 cities in Argentina, Bitcoin users will now be able to pay their transportation expenses by adding credit charge to their SUBE card using the cryptocurrency.
The SUBE card [standing for Sistema Único de Boleto Electrónico] is essentially a credit pass for public transport services within the Buenos Aires metropolitan area and other Argentine cities and is affiliated to the Argentine Secretary of Transportation.
The introduction of Bitcoin as a payment has been possible due to the allegiance between the two companies, Alto Viaje and Bitex. Alto Viaje is a dedicated platform which allows users to transfer funds to the SUBE card through their online platform, whereas Bitex is one of the largest crypto-related companies in Argentina and it offers blockchain and Bitcoin solutions in Argentina and across different South American countries. Bitex also specializes in imparting the necessary network infrastructure to the companies through a dedicated API integration, so that the various corporations can start offering services that use the Bitcoin blockchain.
Manuel Beaudroit, the CMO of Bitex, talked about the collaboration and said:
“We believe that these projects are very important since they bring a technology as disruptive as Bitcoin to the common people, demonstrating the real value and the applications that it has in everyday life.”
Alto Viaje decided to go with Bitex’s infrastructure for the technology and liquidity it currently owns since it is a necessary condition to face a project of this magnitude.
Luciano Verardo, Director of Alto Viaje, said:
“From Alto Viaje we want to offer safe and innovative services, the alliance with Bitex allows us to integrate the payment with bitcoins and new possibilities of financial inclusion for people and companies.”
According to bitcoinexchangeguide.com, the minimum payment in terms of Argentinian pesos is $50, which is close to $1.33. Hence, the minimum payment that can be processed through Bitcoin is 0.00039 BTC. However, a bus ride in the City of Buenos Aires will only cost a user about AR$ 18 ($0.48 or 0.00014 BTC).
Before the implementation of Bitcoin, the platform of Alto Viaje only accepted PayPal, but will soon also be processing payments through local payment provider, RapiPago.