Has anyone used the new financial app Peanut to send Mercado Pago payments in Argentina?

[Blockchain]

Have any of you used the new app called Peanut? I read about it on X. It seems like you can pay almost any store that takes QR payments from Mercado Pago which most stores when I was there allowed you to pay that way. If anybody has any experience first hand I'd love to read about it.

Peanut - Instant Global P2P Payments in Digital Dollars

Send and receive money instantly with Peanut - a fast, peer-to-peer payments app powered by digital dollars. Easily transfer funds across borders. Enjoy cheap, instant remittances and cash out to local banks without technical hassle.

peanut.me

Exchange rates are better than blue rate.

Peanut - Instant Global P2P Payments in Digital Dollars

Send and receive money instantly with Peanut - a fast, peer-to-peer payments app powered by digital dollars. Easily transfer funds across borders. Enjoy cheap, instant remittances and cash out to local banks without technical hassle.

peanut.me

 

[lemonade]

It looks like it has no reviews at all on Trust Pilot. Looks like it is new. How do you even sign up? Looks like you need invite code. Is it KYC? Do you have to give your ID?

Be the first to write a review about Peanut.

Your insights can help this company and all of your fellow shoppers.

www.trustpilot.com

 

[Bingo]

It looks like it has no reviews at all on Trust Pilot. Looks like it is new. How do you even sign up? Looks like you need invite code. Is it KYC? Do you have to give your ID?

Be the first to write a review about Peanut.

Your insights can help this company and all of your fellow shoppers.

www.trustpilot.com

According to their post on X no KYC unless you have to do anything bank related. I haven't tried it yet. It looks like it is still in Beta testing so be careful.

 

[Nasdaq]

It looks like it has no reviews at all on Trust Pilot. Looks like it is new. How do you even sign up? Looks like you need invite code. Is it KYC? Do you have to give your ID?

Be the first to write a review about Peanut.

Your insights can help this company and all of your fellow shoppers.

www.trustpilot.com

Is the company based in Montenegro? The Trust Pilot page says it is a company based there? Strange place to be based out of for software?

 

[Blockchain]

Is the company based in Montenegro? The Trust Pilot page says it is a company based there? Strange place to be based out of for software?

No it is not based there. That seems like an error. The Founder's last name looks like it is Montenegro.

https://x.com/uwwgo

 

[Bharat]

Have any of you used the new app called Peanut? I read about it on X. It seems like you can pay almost any store that takes QR payments from Mercado Pago which most stores when I was there allowed you to pay that way. If anybody has any experience first hand I'd love to read about it.

Peanut - Instant Global P2P Payments in Digital Dollars

Send and receive money instantly with Peanut - a fast, peer-to-peer payments app powered by digital dollars. Easily transfer funds across borders. Enjoy cheap, instant remittances and cash out to local banks without technical hassle.

peanut.me

Exchange rates are better than blue rate.

Peanut - Instant Global P2P Payments in Digital Dollars

Send and receive money instantly with Peanut - a fast, peer-to-peer payments app powered by digital dollars. Easily transfer funds across borders. Enjoy cheap, instant remittances and cash out to local banks without technical hassle.

peanut.me

My friend downloaded it and is using it. Just beware that the system can go down so I wouldn't depend on only that. He went to make a QR payment a few weeks ago and it would not work.

According to their post on X no KYC unless you have to do anything bank related. I haven't tried it yet. It looks like it is still in Beta testing so be careful.

That is what my friend said that it is not ready yet and some bugs with it. But he does not have a DNI and thought it was a good work around to get pesos at rates better than blue dollar. He was using only Western Union. He said WU's rates are actually better than Peanut but by the time you add in the WU fee I think it might be more. It may be a wash with fees. I am sticking to Western Union that always works and rates are high. Rates lately at WU are higher than Blue.

 

[Bingo]

My friend downloaded it and is using it. Just beware that the system can go down so I wouldn't depend on only that. He went to make a QR payment a few weeks ago and it would not work.



That is what my friend said that it is not ready yet and some bugs with it. But he does not have a DNI and thought it was a good work around to get pesos at rates better than blue dollar. He was using only Western Union. He said WU's rates are actually better than Peanut but by the time you add in the WU fee I think it might be more. It may be a wash with fees. I am sticking to Western Union that always works and rates are high. Rates lately at WU are higher than Blue.

Can you ask your friend how did he initially fund his account at Peanut? I assume with crypto? Can you ask for his invite code?

 

[VINO]

My friend downloaded it and is using it. Just beware that the system can go down so I wouldn't depend on only that. He went to make a QR payment a few weeks ago and it would not work.



That is what my friend said that it is not ready yet and some bugs with it. But he does not have a DNI and thought it was a good work around to get pesos at rates better than blue dollar. He was using only Western Union. He said WU's rates are actually better than Peanut but by the time you add in the WU fee I think it might be more. It may be a wash with fees. I am sticking to Western Union that always works and rates are high. Rates lately at WU are higher than Blue.

Looking online it sounds like some people are experiencing some problems. I know an American that had good results with it but she said she also had problems paying one night with QR payments.

 

[Betsy Ross]

It looks interesting but what happens if they go down? It looks like you need to transfer cash into the App from your bank via a wire or maybe a company like Coinbase. I asked my sister who knows more about crypto and she said you can easily buy USDC and then transfer it to the app but not sure what happens if the app crashes or the company goes out of business? It might be good just to use as needed with smaller amounts.

 

[lemonade]

It looks interesting but what happens if they go down? It looks like you need to transfer cash into the App from your bank via a wire or maybe a company like Coinbase. I asked my sister who knows more about crypto and she said you can easily buy USDC and then transfer it to the app but not sure what happens if the app crashes or the company goes out of business? It might be good just to use as needed with smaller amounts.

For someone that is not a crypto user and not too much of a techie this seems like too much risk for my comfort. The company sounds new. Has no reviews on Trust Pilot, the software says it is in Beta. A lot of the crypto world seems scammy. It doesn't seem like it is regulated at all. So many rug pulls of people getting fleeced and even Milei was involved in one.

One of my co-workers is involved with crypto and I asked them about this and they said it is new and not to put much money into it. He sent me this website that tracks fraud or losses in the crypto space.

I think I will stick to Western Union. It works incredibly well with no risks at all to me.

Web3 is Going Just Great

A timeline recording only some of the many disasters happening in crypto, decentralized finance, NFTs, and other blockchain-based projects.

www.web3isgoinggreat.com

 

[Nasdaq]

Great idea for the app but it still has some bugs. I used it a few times for QR payments and it works ok with a fabulous exchange rate. Today I got 1514.53 to $1 using the payment link. My wife's account her QR code does not work at all. It gives an error message when she tries to pay via QR code so not working at all.

Today I tried to transfer to my local bank account and the funds disappeared from my Peanut account but failed to make it to my local bank account. It said transaction failed but the funds are showing as gone. Maybe it takes time to reappear but there is no history of the transaction at all in Peanut which is concerning. I reached out to customer service but no response yet. So be aware there are bugs in it to work out.

 

[Wally]

Great idea for the app but it still has some bugs. I used it a few times for QR payments and it works ok with a fabulous exchange rate. Today I got 1514.53 to $1 using the payment link. My wife's account her QR code does not work at all. It gives an error message when she tries to pay via QR code so not working at all.

Today I tried to transfer to my local bank account and the funds disappeared from my Peanut account but failed to make it to my local bank account. It said transaction failed but the funds are showing as gone. Maybe it takes time to reappear but there is no history of the transaction at all in Peanut which is concerning. I reached out to customer service but no response yet. So be aware there are bugs in it to work out.

I don't like trying anything in beta. Please keep us updated if you get credited for the failed transactions.

 

[Nasdaq]

I don't like trying anything in beta. Please keep us updated if you get credited for the failed transactions.

I did get credited today for the 2 transactions. Their customer support team reached out and said that the two transactions failed due to my monthly limit with their provider. Apparently the monthly limit is 6,000,000 pesos and they told me I only had 350,000 pesos available for this month. They said they are working to deploy this information in the app and also to block these transactions in the future.

I am not clear if it would have automatically credited if I didn't contact them as they never showed the failed transactions in the app which is concerning. Also, immediately after they credited the $987 USD back in failed transactions, I did another test to see if the 350,000 pesos would work as they said I had that left for this month but it also failed and the same thing happened. The funds disappeared from my account. I assume they will credit it again.

It would be a good idea if they showed how much you have left for your monthly limit and block the transactions so this doesn't happen.

 

[Blockchain]

I did get credited today for the 2 transactions. Their customer support team reached out and said that the two transactions failed due to my monthly limit with their provider. Apparently the monthly limit is 6,000,000 pesos and they told me I only had 350,000 pesos available for this month. They said they are working to deploy this information in the app and also to block these transactions in the future.

I am not clear if it would have automatically credited if I didn't contact them as they never showed the failed transactions in the app which is concerning. Also, immediately after they credited the $987 USD back in failed transactions, I did another test to see if the 350,000 pesos would work as they said I had that left for this month but it also failed and the same thing happened. The funds disappeared from my account. I assume they will credit it again.

It would be a good idea if they showed how much you have left for your monthly limit and block the transactions so this doesn't happen.

Thanks @Nasdaq for posting about your experience with Peanut. I signed up but a little hesitant to use them based on hearing about these problems. I doubt I will be using it so much. 6 million pesos per month is a hefty amount!