The payments with transfer through mobile phones became the most used means of payment in Argentinaby exceeding for the first time the total amount of the operations carried out with card of debit, barely four years after its implementation in the country.
Specifically, mobile payments by reading QR codes, of payment buttons or of POS payment terminals reached 198.8 million of operations in April, so exceeded the 193 million that were processed through debit cards and almost 70% more than the 115 million that were made with credit cards, according to the Monthly Report on Retail Payments published today by the Central Bank.
Although payments for large amounts continue to be dominated by plastics, especially through large face-to-face and online or international purchases due to the possibility of paying in installments, people are increasingly adept at paying with their cell phones in nearby stores. and for low amounts.
interoperability
One of the keys to this was the implementation in November of last year of the full interoperability of the Transfers 3.0 system so that a person who has downloaded a banking application (MODO, BNA+, DNI Account, BBVA Go, Galicia, Macro, Santander or another) or a fintech (Mercado Pago, Ualá, Yacaré, Tap, among others) can pay in any QR, regardless of the company that issued it.
The advantages of this system for businesses is that they receive the money irrevocably in their accounts in less than 15 seconds and with the lowest commission on the market (from 0.6 to 0.8%), which simplifies operations and allows it to compete against cash, which is estimated to still be the most used form of payment in Argentina, in about eight out of 10 transactions.
In addition, it means a resounding improvement compared to those made with a debit card, which are credited only after 24 hours, or those with a credit card, which do so depending on the size of the company that receives the money, if it is micro or small will be in eight days, if it is medium in 10 and if it is large 18 business days.
Payments with QR
A survey carried out by the digital financial services company MONI indicated that 40% of Argentines use QR regularly to make their payments and only 27% never used it.
In addition, 40% of Argentines stated that they used QR code payments regularly, 51% reported using this payment method from time to time and only 9% commented that they had made payments with this method only once.
Data from the BCRA show that hand in hand with greater adoption of electronic payment methods, the use of the QR code is gaining ground among users of financial services. In this way, in the last year the number of operations carried out through this system multiplied by 5 and currently 1 out of 4 transfer payments starts with a QR code.
Source: Ambito
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