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The most used virtual wallets: what the apps that pay interest for having money in account offer

In order not to be shipwrecked in the economic storms, the virtual wallets provide a solid refuge for the pocket of Argentine consumers. It is enough to have a minimum balance in the account to accumulate daily interest. In this note, which are the ones that pay the most interest and what else do they offer.

These platforms, which navigate fintech waters, allow you to make purchases, transfers and payments for services easily and quickly, through your cell phone. And also, just by passing salary money to these digital portfolios, benefits are already beginning to be generated.

With a penetration of 80%, mobile telephony is already an integral part of the payment process. 88% of those consulted for a study of mastercardindicated that they use their phones to carry out transactions and more than half (55%) use the mobile channel to open an account.

This preference led to a decrease in the use of cash (a drop of 20% was reported in the country) for more than half of the monthly expenses of consumers, according to the study.

With wallets you can pay anywhere. Photo OpenBank

Far from financial roulette, these accounts, in some cases, are interest-bearing savings accounts with a guaranteed fixed rate. In others, they are virtual wallets that invest the money in common investment funds (FCI) without exposing capital to a cliff.

The interest they earn has risen in recent weeks, in line with what has happened throughout the financial system. And now what they pay is equivalent to nominal annual rates (TNA) of between 76% and 81%depending on the case.

The Trascendo portal details which are the ones that generate the most interest: Ualá pays interest of more than 80%. A few lines below is Personal Pay, just like Mercado Pago. Orange X is in fourth place, although the values ​​change daily.

The great advantage is that it is not necessary open a bank account to access the investment instruments of the e-wallets. And while it is true that the return is less than the value of any fixed termmoney is always in sight to spend at any time.

And although they do not beat the avalanche of prices either, it is a good strategy for money to yield a little more. The four best known wallets are:

personal pay

Investment with daily returns Personal Pay.

Investment with daily returns Personal Pay.

It turns the cell phone into an operations center where money can be deposited into an account, recharge the cell phone -with important benefits in the Personal network- or transport cards and service payments and access a wide range of discounts and benefits.

The FCI is called “Delta Pesos” and it gives daily returns. According to the wallet’s website, the fund “invests in highly liquid, immediately available, and low-risk instruments (demand deposits, sureties, and fixed terms at the main Argentine banks).”

In the “Savings” section, those interested will see a growth of their money reflected on a daily basis. In addition, in case of carrying out transactions, it will not be necessary to redeem the investment because the balance will always be available.

The interest rates are daily and at all times you can see the profit received. In turn, it will be possible to continue paying, saving and managing money efficiently and safely, with the same benefits.


The advantages of using Ualá.

The advantages of using Ualá.

With a portfolio oriented to a financial profile, through Ualintec Capital (AlyC) and Ualintec Inversiones SGFCI, it offers the possibility of accessing a low-risk FCI and the purchase and sale of MEP Dollars and Argentine certificates of deposit (CEDEARs).

CEDEARS’ volume traded, says the firm, grew +100% in the first quarter compared to the previous quarter and there are more than 80 alternatives. Of the people who choose to invest in CEDEARs, 40% of the total are between 35 and 49 years old.

Regarding the MEP, there was a growth of +260% in the first quarter compared to the previous quarter. Of the people who choose to invest in the MEP dollar, 41% of the total are between 35 and 49 years old.

Enabled for anyone over 18 years of age. You can enter with a minimum amount of one peso and it does not require a stay time, being able to subscribe and use the money at any time.

Market Payment

Common investment fund of Mercado Pago.  Image: Capture.

Common investment fund of Mercado Pago. Image: Capture.

Due to the number of users and affiliated businesses, the application has 7.8 million only in Argentina, leading this market. It is not necessary to make decisions, since just by leaving the capital alone, the profits accumulate.

Your FCI is managed and guarded by BIND Inversiones, it is an instrument chosen by both traders and people who want to generate returns on their money.

Currently, invested balances yield around 80%. Through this FCI accessible from any mobile device, the number of people and merchants who invest with this type of funds was multiplied by 20.

The possibility of generating interest in Mercado Pago for users from 13 years of age arises in response to 70% of young people looking for alternatives to protect their money from the loss of purchasing power, a figure that arises from a survey carried out by the company.

There it was also revealed that 90% of young people between the ages of 13 and 17 who use the Mercado Pago digital account are concerned about the devaluation of their money and declare that they are aware of the advantages of investing it.

Orange X

Investment with daily returns from the Naranja X app.

Investment with daily returns from the Naranja X app.

Although the fintech has led the market in the last five months with its TNA, it now lags a few points behind its immediate competitors. Being backed by Grupo Financiero Galicia, it delivers some interesting promotions.

The TNA of this remunerated account grants a yield of 78% for the pesos deposited in their accounts. That is to say, if one has 200,000 pesos, you will receive 427.39 pesos per day.

Also, it has some exclusive deals. For example, on local flights, until June 30, you have 6 interest-free installments on Aerolíneas Argentinas tickets. Every Thursday, 10% OFF paying through the YPF app with a debit card with a maximum of $600.- To this is added a 20% discount and up to 3 installments without interest in clothing and shopping, paying with your Naranja X credit card in Plan Z, with no refund limit.

In home insurance, 50% in the first months in all plans. Includes civil liability for third-party claims and covers property fires, property fires, robbery or theft. Includes 24-hour home assistance: plumbing, locksmith, electricity and gas.

Global Sealed Wallets

Takenos, the wallet for professionals and freelancers who work abroad.

Takenos, the wallet for professionals and freelancers who work abroad.

A group of local entrepreneurs launched Takenos, a payment solution that allows charge in dollars to professionals and freelancers who invoice from Argentina abroad. It is a digital wallet that supports international payments.

The bulk of their clients are usually tech profiles, but not just programming, but also marketing, sales, data science, product managers, content creators, and also journalists, psychologists, nutritionists, Airbnb, lawyers, and others.

When the client deposits money to Takenos, it converts it into stablecoins, allowing the value of the coin to be frozen. The interested party can withdraw the profit from it as he pleases.

Since the money is deposited, the accreditation of USD Coin is instantaneous. Transfers usually take no more than 24 hours. To use the platform, you only have to pay 3% of the amount as a commission for the managed service.

For those who frequently travel abroad, the newly released Google Wallet can be used in any country that is enabled. And when it comes to flying, the app accepts boarding passes for 30 international airlines such as LATAM, Gol, United, Lufthansa, Aeroméxico, KLM and Air France.

They can be added once the check in is done. If the account is associated with Google Fights, they will be able to receive notifications about gate changes or delays.

Unlike Mercado Pago, Google Wallet is an integrator and not a payment system. That is to say, it is an intermediary between the debit and credit cards that it has adhered to and the business. At the same time, it allows you to pay without contact, just by bringing your cell phone closer to the posnet. The mobile must be Android and have NFC technology.


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