• ImplyingImplications
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    1 year ago

    Argentina had a unique situation where they forced Argentinians to use their currency by mandating a very unfavorable exchange rate for the US dollar. However, Argentina really likes American tourists and businesses spending their dollars in the country, so they had a different, more favourable, exchange rate for foreigners.

    This caused a glitch in online credit card processing that resulted in people receiving a 40% discount on online purchases if they requested to pay in Argentinian pesos. The site would charge a high amount but their credit card statement would be a lower amount since the two used different exchange rates.