In a context where salaries are losing to price increases, there are different tools to increase peso yields.
Average increases in salaries continue below inflation, a problem for thousands of Argentines. It’s impossible to get along with a peso remnant to add to their savings.
A proof of this complex panorama: Last July, salary increases averaged 5.5% month-on-month, but remained below the inflation reported by INDEC (7.4%) in the seventh month of the year.
The annual increase in wages was driven by average increases of 68.7% in the formal private sector, 74.7% in the public sector and 58.9% in the informal private sector.
How to protect against inflation with technology?
Thousands of Argentines have to balance their declining incomes to make a living.
Faced with this complex scenario there are different options that can provide relief to consumers and this offers different alternatives for pesos to earn more.
The purchase can be made in the most convenient way possible (thanks to Artificial Intelligence), whether accessing special offers, returning a certain percentage of the purchase amount – in pesos or even crypto – or even with the help of technology. converted into savings of up to 40% in daily operations.
Annual inflation may exceed 100%
How can technology be used to reduce the impact of rising prices?
Argentina, like the rest of the region, is a country where the use of cash for day-to-day operations still has a very strong presence.
This behavior is synonymous informality and a response to low levels of financial inclusion.
In addition, in a market where inflation does not stop hitting people’s pockets every day, those outside the system will feel the increase in prices the most at the end of the day.
One of these stand out tools is There-ta! browser extension. Shop with discounts of up to 40% and provides information for each user to know which payment method is more convenient to pay for the transaction.
Its creators, Agustín González Chiappe and Emilio Carbone, install this plugin on iProUP in simple steps and Artificial intelligence, He is responsible for analyzing the best deals and offers on the web pages of the main supermarkets – among the more than 100,000 products that make up the database.
“We read fine print for users and analyze the car in real time. That’s why we say we’re a personal assistant when making a purchase,” they say. iProUP these two engineers
Technology is key to saving pesos when buying
Also, There-ta! It offers two types of suggestions:
- of your products: analyzes when a product selected in the cart has been reached by a promotion, for example “Buy 3 for the price of 2” or “50% off second unit” for the consumer to take advantage of the savings opportunity
- Payment: recommends changing the day of purchase to get better discounts and provides each person with the necessary information to determine how appropriate to pay.
“We retain over 90% of those who try the platform because the product delivers what people need. It’s not even available in the United States or Europe: it’s a huge opportunity and challenge,” its creators said.
In the segment of applications that help optimize “runnings” in order to spend as little money as possible, “Comprando”, an application that collects information about the different price programs implemented in supermarkets and stores, also stands out.
In 2021, nearly 21 million Argentines used it to look for prices that save 40% to 80% when more units of the same product are purchased.
What is cashback and what kind of savings does it offer?
Until a short time ago, the word cashback was hardly known anywhere, but those who follow the fintech world today, virtual wallets or are familiar with this concept, where brands reward new strategies for consuming them to benefit users.
This is a new form of savings that makes certain items cheaper by “paying back” some of their cost. One of these applications is Gelt, which has been in Argentina since last year.
Cashback: purchase rewards
“It has been observed in recent months that giving cash is a trend and it will be more and more for companies looking at what’s going on with consumers,” the firm’s executives told iProUP.
They also underline that “new customers today want not only to save, but also to earn, to buy smarter, to recover some of the money spent.”
How and how much can you earn with cashback from crypto wallets?
Platforms linked to the sale of cryptocurrencies have found an interesting ally in cashback to encourage them to reach new users.
In this way, exchanges like Lemon Cash, Decrypto.la, and Belo are just a few of those adding this reward scheme for shoppers with their prepaid cards.
Additionally, as an extra incentive, returns can be in both pesos and cryptocurrencies, the percentage of which varies between different companies offering it.
Franco Bianchi, CMO of Lemon Cash, highlights iProUP It is a simple process to request a prepaid card in the main domestic exchanges.
“The requirements we request from Lemon are that they are over 18 years old and have an Argentinian ID. Then they need to create a user from our app and authenticate with a selfie and a photo of the document. Finally, request the card completes the shipping information and 7 to 10 days they get it within business day”, says the expert.
As for the reward it provides for use, Bianchi details that this contactless Visa can be configured to pay in stable cryptocurrencies such as pesos, DAI or USDT, and volatile Bitcoin or Ethereum.
“Every time the card is used, the user receives 2% Bitcoin as a gift. This is for every $10,000 pesos spent, Lemon gives them $200 in Bitcoin. Also, this BTC in the account provides automatic crypto earnings every week. Bianchi highlights. The withdrawal limit, equivalent to $8,000 in Bitcoin per month.
Finally, Belo offers a random cashback in crypto for purchases made with a prepaid Mastercard. The percentage ranges from 2% to 21% of the total value of the operation. and with a monthly reimbursement limit per person $100,000.
Inflation will continue to be a problem for Argentines, and the definitive solution seems far from happening. Faced with this (complex) scenario, pocket-friendly apps will become a widely used tool and a key ally for meeting things more conveniently.
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