We invite you to read the new article on Ideas de Peso, a blog where economists working at the BCRA share their opinions:
The number of shops offering cashback services has increased significantly in the past few months, enabling bank account holders to withdraw cash from shops—such as pharmacies, supermarkets, or gas stations.
Now, do cashback services contribute effectively to the goal of the Central Bank of promoting the use of electronic means of payment and discouraging the use of cash?
To answer this question, it is necessary to consider that the network of points of access to withdraw cash supplement a system of points of access to financial services marked by a low capillary action. As informed in the last two editions of the Financial Stability Report, the number of points of access in Argentina is dramatically lower than that of other countries in Latin America (e.g., Mexico, Colombia, and Brazil).
July 6th, 2018