Due to new regulations from the Central Bank of Argentina (BCRA), which have extended the deadline for overseas remittances and affected the settlement of transactions, Hotmart will no longer process payments in Argentina with its local partners as of April 28, 2023.
This means that you will not be able to offer the following local payment methods on your checkout page in Argentina:
❌Pago Facil (cash payment);
❌Mercado Pago (digital wallet);
❌Naranja (card);
❌Cabal (card);
❌American Express (card);
❌Diners Club (card);
❌CRM (card);
❌Cards not issued by Argentine banks;
❌Cupón de pago.
Attention: If you're not yet selling to buyers in Argentina, don't worry, nothing will change for sales to other countries.
On the other hand, if you frequently sell to buyers in Argentina, please read the full article carefully and stay tuned for other announcements from Hotmart with new information related to local updates in the country, as we are committed to keeping our customers informed of changes that may affect their businesses.
How will my sales in Argentina change?
- Sales in Argentine pesos (ARS)
Payments with Visa or Mastercard (credit and debit) cards issued by Argentine banks, enabled for international transactions, and Google Pay (digital wallet) are still accepted when selling in Argentine Pesos (ARS) and will be processed by Hotmart's international partners.
- Sales in US Dollars (USD) and currency conversions
PayPal will continue to be available for US Dollar (USD) payments.
In addition, a standard 9.5% currency conversion fee will be applied to transactions in which the customer purchased in Argentine Pesos (ARS) a product priced in US Dollars and to commissions received in US Dollars (USD) from products priced in Argentine Pesos (ARS).
This means that if your product is priced in US dollars (USD) and your customer chooses to buy in Argentine pesos (ARS), a currency conversion fee will be applied to the product price. Similarly, if your product is priced in Argentine Pesos (ARS), the currency conversion fee will be applied to convert your sales commissions to US Dollars (USD).
How should I proceed with customers from Argentina who have active subscriptions?
- Subscribers paying with credit card
If your subscribers pay by credit card, you don't need to do anything, as your customer's next billing cycle after April 28, 2023 will automatically go through the new processing flow.
It is important to note that if your subscriber's card is one of the local cards mentioned (Naranja, Cabal, American Express, Diners Club or CRM), we will not be able to process their payments. For these subscribers, an automatic email will be sent requesting a change of payment method, and until the change is made and payment is properly processed, their subscriptions will be suspended, resulting in loss of access to the product.
- Subscribers paying via Pago Facil
If your subscribers are paying with Pago Fácil, the next billing cycle after April 28, 2023 will not be processed, and their subscriptions will be suspended. As a result, your customers will lose access to the product.
To reduce the impact on you and your customers, we recommend that you contact your subscribers before the next billing cycle. To do this, you can use the Hotmart Sales Report feature to extract a list of affected customers, filtering by transaction status and payment method, and then set up an automation using the Automatic Lead Management (ListBoss) to contact them.
We recommend that you communicate with subscribers who use the Pago Facil payment method and encourage them to use another available payment method and re-subscribe.
Finally, you should know that the impact of selling in Argentina is due to recent regulation changes in the country that apply to any person or company selling in Argentina who wants to receive their payments in another country.