Feb 4 (Reuters) - MercadoLibre ( MELI ) is now offering

transactions using its payment processors in Argentina through

Pix, the Brazilian instant payment system, as Brazilian tourists

flock to the neighboring country for vacation, MercadoLibre ( MELI ) told

Reuters on Tuesday.

MercadoLibre's ( MELI ) payment processors, run by fintech

arm Mercado Pago, have become ubiquitous for Argentines on the

go and are popular for merchants looking for instant payments

instead of waiting on credit cards to clear while their money

depreciates.

The central-bank-developed Pix, meanwhile, has taken up a

similar position for Brazilians and is now residents' favorite

way to pay over cash and cards.

"Brazilians adopted Pix as their preferred payment method

due to its practicality, costs and speed," said Priscila Faro, a

Mercado Pago executive in Brazil, in a statement. "Now, we're

bringing this convenience to tourists visiting Argentina."

Brazilians in recent years have made Argentina one of their

top travel destinations, taking advantage of a favorable

exchange rate from the country's real currency to the peso. In

December, 22% of international tourists into the country were

from Brazil, according to statistics agency INDEC.

Travel trends have shifted in recent months, however, as

Argentines empowered by a stronger peso vacation in Brazil,

where the real has plummeted.

In Argentina, storefronts tout their acceptance of Mercado

Pago and often offer a discount if clients pay using the app or

with cash.

That popularity is due to Argentina's once-chronic

inflationary situation, which last April hit near 300% annually.

In the time it took credit card processors to clear payments,

stores would receive far less value than what they had charged

for just weeks prior.

Inflation has since come down to a more digestible, but

still high, double-digit rate.

On Buenos Aires' busy Calle Florida, where tourists trade in

their dollars on the black market for a more-favorable exchange

rate, some stores and restaurants now accept Pix too, looking to

benefit from the trend.

Mercado Pago's tie-up with Pix, according to the firm, hopes

to boost consumer spending in Argentina while cutting out the

need for Brazilian tourists to exchange their hard-earned reais.