According to official numbers, extraction by this modality already involves almost 4% of the total volume operated by debit.
He closure of bank branches It is a trend that is not only seen in Argentina but also in the world. He rising costs of maintenance added to a greater number of operations that can be carried out online brought convenience to customers and also multiple benefits to financial entities.
One of the many consequences of this change was that the client chose to go to the branches fewer times, increasing the type of payment in percentage. “extra cash”.
According to the Payway index for the last quarter of 2023, withdrawals using this modality already account for 3.82% of the total volume operated with a debit card. As for the limit, at the end of last year due to the increase in inflation, the amount available to withdraw was also increased from $40,000 to $70,000, but always depending on the availability of cash that the enabled business has.
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Benefits of the extracash modality and participating businesses:
For issuers, this trend increases the use of debit cards and in the case of businesses, it attracts sales by improving the purchasing experience.
As for the businesses in which this modality is accepted, they are supermarkets, some food establishments, service stations and pharmacies and perfumeries.
Payment with QR and transfers grows
On the other hand, according to Payway’s report, when analyzing the transactions in its acquisition, it stands out that contactless payments in Payway terminals multiplied by 4 and payments in the Payway QR, which includes credit card payments, multiplied by 8.75. , debit, prepaid and instant payments by Transfers 3.0.
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Source: Ambito
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