- Payment system available in 81 subway stations, enabling contactless fare payments via NFC-enabled devices and cards.
- System supports cards from major crypto exchanges, allowing commuters to pay fares directly with cryptocurrencies.
Buenos Aires has introduced a multipayment platform to its public transportation network, allowing commuters to use debit and credit cards, along with cryptocurrencies like Bitcoin and stablecoins such as USDT and USDC. This initiative, confirmed by Jorge Macri, the head of government for the Autonomous City of Buenos Aires, is now operational in 81 of the 90 subway stations across the city.
The new system enables passengers to pay their subway fares by tapping their debit or credit cards on readers installed at turnstiles. These devices support Near Field Communication (NFC) technology, allowing for contactless payments directly from smartphones. The system is set to expand to include all 31 bus lines in Buenos Aires.
At launch, the platform accepts various credit and debit cards issued by Visa or MasterCard. This includes cards linked to accounts at major Argentine cryptocurrency exchanges such as Belo, Buenbit, Lemon Cash, SatoshiTango, Decrypto, and LB Finanzas. Holders of these cards can use cryptocurrencies to settle their transit fares.
The technology behind the multipayment system operates offline and processes transactions within two seconds. It imposes restrictions such as a maximum of 10 trips per day and four trips per hour per card to manage usage.
This advancement places Buenos Aires at the forefront of integrating cryptocurrency payment solutions into public transport systems, positioning it alongside other global cities like Rio de Janeiro, New York, and Rome.
Jorge Macri discussed the significance of this development on Radio Mitre, emphasizing the reduction of state control in public transport. He noted:
“This move not only enhances convenience but also dismantles the previous state monopoly, fostering competition that makes travel less expensive than before.”
He highlighted that banks are now offering full reimbursements and discounts on travel, providing greater cost savings compared to the traditional SUBE card system.
Furthermore, Macri pointed out the benefits for international visitors, explaining that the previous system required tourists to purchase and load a physical card, a process now simplified by the new system.
As we often report on Crypto New Flash about Argentina, by reducing government exclusivity in public services, the multipayment platform aims to provide a more economical and efficient service, devoid of the need for government subsidies.
Bitcoin (BTC) is currently trading at $95,813 USD, reflecting a minor daily change of -0.05%. Over the past month, BTC has gained 38.19%, marking continued bullish momentum as it consolidates near the critical psychological level of $100,000 USD. Year-to-date, Bitcoin has surged by 126.76%, underscoring its robust performance in the crypto market.
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