electronic payments reached a record

electronic payments reached a record

The amounts transacted with electronic payment methods rose 25% in the first semester. These data come from the latest Financial Inclusion Report published by the Central Bank of the Argentine Republic.

They also assured that The amounts transacted per adult increased by 25% at constant prices compared to the first half of 2022.

“Each adult made, on average, 25 monthly payments by electronic means, reaching a historical maximum. The number of people with accounts continued to increase, reaching 35.7 million as of June 2023, thus approaching the level of full coverage of the adult population,” they reported.

At the same time, The number of people who have both bank accounts and payment accounts rose from 18.3 million in December 2022 to 20.1 million in June 2023, which represented more than 55% of the adult population.

“The number of people who registered activity in any of their accounts amounted to at least 21.9 million in the second quarter of 2023. In this way, 61.4% of people with an account had at least one credit or debit transaction. The population between 20 and 44 years old presented the highest levels of activity (greater than 70%), with a maximum in the age range of 25 to 29 years,” the report revealed.

For its part, The number of fixed terms in pesos of people was located at 8.2 units per 100 bank accounts, reaching the highest point in the last 4 years. This metric grew 45% between June 2022 and 2023. A greater participation of fixed terms in national currency was also recorded, which went from 37% in June 2022 to 43% in June 2023.

The number of companies and organizations (EyO) with accounts reached 500,000 units in June of this year, showing a growth of 13,000 EyO compared to December 2022. The greater participation of those that operate only through bank accounts (80%) was highlighted, compared to those that have both types of accounts (19%) or only payment accounts (1%).

The percentage of the adult population with financing in the expanded financial system (SFA) registered an increase of 0.9 pp compared to December 2022, reaching a participation of 55.4% as of June 2023.

The number of MSMEs with credit in the SFA in the first half of 2023 was one million of these types of companies had credit in the SFA as of June 2023, a net increase of close to 57,000 productive units compared to June 2022. Likewise, the financing balance of MSMEs in the SFA registered a year-on-year drop of 5.1% at constant prices.

“The support provided through the BCRA’s Financing Line for Productive Investment, which represented 28.5% of the total balance of financing for MSMEs, maintained its positive impact in terms of financial inclusion focused on the productive development of micro, small and medium-sized businesses,” they indicated.

Source: Ambito

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