Report on Retail Payments

Monthly Report on Retail Payments - June 2023

- Transfers (instant push transfers) increased 100% y.o.y.

Administered by networks : there were 255.8 million instant push transfers for an amount of ARS7.9 trillion, climbing 100.7% y.o.y. in volume, and 25.9% y.o.y. in value. Sixty-two point seven percent of transfers (ARS160.3 million) involved the use of a single virtual code known as CVU—identifying a payer and/or a payee account.
Intra PSPCP: transfers between accounts belonging to the same payment service provider that offers payment accounts (proveedor de servicios de pago que ofrece cuentas de pago, PSPCP) reached ARS502.9 billion (71.5% y.o.y.), involving 117.9 million transactions (130% y.o.y.).

- Payments by transfer (pagos con transferencia, PCTs): transactions with interoperable QR codes exceeded 10.7 million.

Interoperable PCTs: there were 31.5 million (38.1% y.o.y.) interoperable PCTs for a total of ARS198.9 billion (-13.8% y.o.y.).

QR code payments: 34% of interoperable PCTs were initiated through interoperable QR codes, accounting for over 10.7 million payments (212.2% y.o.y.) for an amount of ARS40.1 billion (148% y.o.y.). Payments from sight accounts represented 84.9%, and payments from payment accounts, 15.1%. Moreover, 64.5% of stores credited the funds in sight accounts, and 35.5%, in payment accounts.
POS card payments: 37.3% of interoperable PCTs were made through debit cards at point-of-sale (POS) terminals, reaching 11.7 million transactions (5% y.o.y.) for an amount of ARS109.6 billion (-16.9 % y.o.y.).
Token payments:13.7% of interoperable PCTs were made through a token, accounting for 4.3 million payments (31.7% y.o.y.) for an amount of ARS21.1 billion (6.3% y.o.y.).
Payment buttons: 15% of interoperable PCTs were online transactions, accounting for 4.7 million payments (-3.9% y.o.y.) for an amount of ARS28.1 billion (-55.2 % y.o.y.).

Intra-PSPCP PCTs: they reached 184.7 million for an amount of ARS744.9 billion, rising 109.9% y.o.y. in volume, and 70.8% y.o.y. in value.

QR code payments: they accounted for 17%, reaching 31.5 million transactions (70% y.o.y.) for an amount of ARS110.6 billion (47.6% y.o.y.).
Online payments: they accounted for the remaining 83%, reaching 153.2 million transactions (120.6% y.o.y.) for an amount of ARS634.3 billion (75.6% y.o.y.).

- Payment accounts and funds invested through PSPCPs: in May, 15.4 million payment accounts with balances totaling ARS121 billion were recorded, whereas the balances of money market funds reached ARS250.3 billion. Payment accounts and money market funds jointly accounted for 1.7% of total private sector deposits, which amounted to ARS21.7 trillion in that month.

- Instant debit (DEBIN):DEBINs increased 7.9% against May, exhibiting a growth rate of 67.7% y.o.y., and reaching 28.1 million transactions for an amount of ARS430.5 billion. In terms of the number of transactions, 0.4% were one-time DEBINs and 99.6%, recurring DEBINs.

- Direct debit:there were 11.7 million debits (5.9% y.o.y.) for an amount of ARS297.7 billion (-20.5% y.o.y.), reaching a 52.2% success rate.

- Checks: electronic checks (ECHEQs) accounted for 64.2% of cleared amounts.

A total of 4.9 million checks (in paper and electronic form) were cleared for ARS3.5 trillion. The share of ECHEQs in total cleared checks was 38.1% (1.9 million) in terms of volume and 64.2% (ARS2.2 trillion) in terms of value.
Checks returned for insufficient funds: the rate of returned checks for insufficient funds over total cleared checks slightly dropped to 0.72% in terms of volume, and 0.47% in terms of value.

- Cards: debit card use remained above credit card use.

Debit cards:there were 186.8 million debit card transactions for an amount of ARS964.8 billion, exhibiting a change of 12.2% y.o.y. in volume, and of -4.6% y.o.y. in value.
Credit cards:the number of credit card transactions reached 109.2 million for an amount of ARS1,218.3 billion, changing 6.4% y.o.y. in volume, and -6% y.o.y. in value.

- Transportation prepaid cards: there were 416.4 million trips (7.2% y.o.y.) paid with SUBE cards for a total of ARS14.9 billion (12.8% y.o.y.).

- Electronic credit invoices for MSMEs (factura de crédito electrónica MiPyME, FCEM): in June, 87.2% of transactions involved 94.4 thousand electronic invoices in pesos for an amount of ARS305.5 billion under the system for the open transfer of e-invoices (sistema de circulación abierta, SCA).

-Withdrawals from ATMs: there were 93.9 million withdrawals from 17,463 ATMs for an amount of ARS1,384.7 billion. The average number of withdrawals per ATM was 5,382, with an average withdrawal amount of ARS14.7 thousand.

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July 28, 2023