The number of users, including other instruments such as physical cards, totaled a record 43.3 million, rising 0.5% in the month, 14.2% compared to a year ago, and 22.6% in the first eight months of 2021.
Currently, the Covid-19 pandemic and the new possibilities that virtual wallets imply, fueled its growth.
“In the last month, the possibility of requesting and accessing a bank loan through electronic wallets was highlighted, a functionality that exceeded what was transacted in all channels except ATM”, highlighted the commercial manager of Red Link, Jorge Colombatti.
He specified that “in this case, the average amount requested was above $ 150,000, also higher than that observed in the rest of the channels.”
Digital channel transactions (adjusted for inflation), fell a slight 0.2% in August compared to July due to typical seasonal factors at this time of year, and totaled 647 million, an average of 15 per user, according to the report. UDE Link elaborated on data from 32 million cards.
On the other hand, the cards in use increased by 1.26%, which was also attributed to a “seasonal behavior”.
Regarding the promotion of digital channels, Colombatti said that “the learning process was singularly fast, both on the part of the banking client and the entities that improved and expanded their platforms to be ever closer to the needs of the population.”
“This caused that, even after the health crisis had significantly diminished, the trend towards the incorporation of users and the growth of transactions continued”he added.
The transactions range from the “simple inquiry of balances and movements” to transfers, credit applications and financial investment operations.
“Clearly it is a phenomenon that tends to deepen, given the practicality to carry out all daily monetary and non-monetary transactions, without having to hand neither the pesos nor the cards linked to the bank account,” said the manager by Red Link.
Likewise, another factor that drove use was the “promotional campaigns with discounts and offers that both the entities and the businesses that adhere to promote their business”.
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