The European fintech company Bnka, which provides financial services to Latin American migrants, has recently introduced a VISA card in Argentina. This new product aims to facilitate payments in local currency for Argentinians residing abroad, eliminating bureaucratic hurdles and offering greater convenience for those visiting the country or making remote purchases.
For many Argentinians living in Europe, returning home for special occasions means reunions, celebrations, and financial challenges. Managing expenses in pesos and currency conversion are constant concerns, especially in times of high exchange rate volatility. According to data from the Argentine government, over 800,000 citizens live in Europe, primarily in Spain and Italy. This growing demographic demands more flexible financial solutions tailored to their lifestyle.
A Practical Solution for Migrants
To address these challenges, Bnka has developed a VISA card linked to a virtual peso account, allowing users to make local purchases without the need to carry cash.
“We know that migration comes with significant challenges. It’s not just about changing countries; it’s about changing lives and often starting from scratch. An Argentinian returning home no longer needs to bring euros to exchange for pesos. With Bnka, you can convert your money directly in the app and use it immediately with our new VISA card issued in Argentina,” explained Martín Moro, Head of Marketing at the fintech company.
This new feature expands Bnka’s range of services, which already includes a virtual account for transfers, payments for over 2,000 public and private services, and instant currency conversion. The card is available in both physical and virtual versions and allows ATM withdrawals throughout the country.
Global Expansion and Future Plans
Beyond Argentina, Bnka also operates in Europe, where it provides migrants with access to a euro-denominated digital wallet featuring a unique IBAN and a European VISA card, simplifying banking access.
“Our mission is to remove barriers for migrants and seamlessly connect their economies. With Bnka, it is possible to obtain a euro IBAN and a European VISA card using only an Argentinian passport, without the bureaucratic requirements of traditional banks,” Moro emphasized.
Looking ahead, the fintech company plans to expand its services to other Latin American migrant communities, such as Peruvians and Colombians, who face similar financial challenges abroad.
“We are committed to global financial inclusion and will continue developing accessible solutions for all migrants,” concluded Moro.