17.07.2026, 13:17
VTB launches QR code payment in Argentina
Source: OREANDA-NEWS
OREANDA-NEWS VTB has launched QR code payments in Argentina, the bank's press service said.
"VTB has launched QR code payments in Argentina. VTB customers will now be able to pay for goods and services in Argentina directly from a Russian bank account via the VTB Online mobile app," the statement said.
"Argentina has become the first country in Latin America where we are launching QR code payments. This destination is one of the three most sought–after by Russian tourists on the continent, and interest in the country is only reinforced by the results of the football team at the recent world Cups," Alexey Okhorzin, Senior Vice President of VTB and head of the retail Products department, is quoted as saying.
He noted that VTB's technology covers almost all QR code formats found in Argentina. By the end of the year, the bank plans to expand the geography of the service to 10 destinations, including other countries in the region.
It is specified that to pay for a purchase or service in Argentina, the customer only needs to log in to the VTB Online application, point the smartphone camera at the QR code on the receipt or terminal at the point of sale and confirm the payment. The funds are debited from the customer's ruble account, and the bank automatically converts them into the Argentine peso.
Since January, VTB customers have made more than 524,000 payments abroad using a QR code in the amount of more than 1.6 billion rubles, which is ten times more than in the same period last year. Most often, customers use QR codes to pay for groceries in supermarkets, electronics, and clothing, the report says.
"VTB has launched QR code payments in Argentina. VTB customers will now be able to pay for goods and services in Argentina directly from a Russian bank account via the VTB Online mobile app," the statement said.
"Argentina has become the first country in Latin America where we are launching QR code payments. This destination is one of the three most sought–after by Russian tourists on the continent, and interest in the country is only reinforced by the results of the football team at the recent world Cups," Alexey Okhorzin, Senior Vice President of VTB and head of the retail Products department, is quoted as saying.
He noted that VTB's technology covers almost all QR code formats found in Argentina. By the end of the year, the bank plans to expand the geography of the service to 10 destinations, including other countries in the region.
It is specified that to pay for a purchase or service in Argentina, the customer only needs to log in to the VTB Online application, point the smartphone camera at the QR code on the receipt or terminal at the point of sale and confirm the payment. The funds are debited from the customer's ruble account, and the bank automatically converts them into the Argentine peso.
Since January, VTB customers have made more than 524,000 payments abroad using a QR code in the amount of more than 1.6 billion rubles, which is ten times more than in the same period last year. Most often, customers use QR codes to pay for groceries in supermarkets, electronics, and clothing, the report says.
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