Digital payment methods continue to gain ground, as can be seen from the latest Retail Payments Report prepared by the Central Bank (BCRA), which highlights that payments initiated with interoperable QRs grew by 283.9% year-on-year in December.
The report also highlighted that the money transfers (immediate “push” transfers) remained at the highest level so far this year in November. 422 million transactions were recorded for $19.4 trillion, which imply year-on-year increases of 117.8% and 24.1% in quantities and amounts, respectively. 67.2% had a CVU as their origin and/or destination, reaching 283.6 million operations.
Meanwhile, when analyzing the payments with transfer (PCT), The work highlighted that 42.4 million operations were carried out (37.1% yoy) for a total of $429.8 billion (-20.6% yoy).
Among those initiated with QR, 67.9% started with interoperable QRs, representing almost 28.8 million payments (283.9% yoy) for $225.6 billion (220.5% yoy).
81.4% were made by clients who used their demand accounts and 18.6% their payment accounts. Likewise, 60.9% of businesses credited demand accounts and 39.1% credited payment accounts.
While, he 13.6% of interoperable PCTs were carried out by reading debit card credentials in a point of sale (POS) terminal, reaching 5.8 million operations (-58.6% yoy) and $124.4 billion (-55.3% yoy).
For its part, intra-PSPCP operations (payment service provider that offers payment accounts) reached 293.56 million payments for $1.9 trillion, with year-on-year growth of 119.4% in quantities and 92.9%. in amounts.
Cards: debit exceeds credit
Meanwhile, the report highlighted that in November the use of debit cards doubled that of credit cards.
252.3 million transactions were made with debit cards for $2.1 trillion, which represented a variation of 43.6% year-on-year in quantities and 21.4% in amounts.
Regarding credit cards, 118.3 million payments were made for $2.4 trillion, which represents a variation of 14.4% in quantities and 9.7% in amounts.
Source: Ambito
