Monthly Report on Retail Payments - September 2023
The month under analysis is September 2023. Information about push transfers, payments by transfer belonging to the same payment service provider that offers payment accounts, credit cards, debit cards and transportation cards is as of August 2023; and data available about prepaid cards is as of June 2023.
- Instant push transfers increased 111.2% y.o.y.
- Administered by networks: there were 321 million instant push transfers for an amount of ARS11.7 trillion, climbing 111.2% y.o.y. in volume, and 33% y.o.y. in value. Sixty-five point eight percent of transfers (211.2 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 ARS820.5 billion (84.1% y.o.y.), involving 154.3 million transactions (128.9% y.o.y.).
- Instant pull transfers.
- There were 453.1 thousand transfers for an amount of ARS13.3 billion, rising 250.6% y.o.y. in volume and 260.1% y.o.y. in value against August.
- Payments by transfer (pagos con transferencia, PCTs): transactions with interoperable QR codes exceeded 17.8 million.
- Interoperable PCTs:there were 32.1 million (21.6% y.o.y.) interoperable PCTs for a total of ARS246 billion (-20 %y.o.y.).
- QR code payments:55.6% of interoperable PCTs were initiated through interoperable QR codes, accounting for over 17.8 million payments (260.8% y.o.y.) for an amount of ARS92.2 billion (245.8% y.o.y.). Payments from sight accounts represented 82.2%, and payments from payment accounts, 17.8%. Moreover, 62.9% of stores credited the funds in sight accounts, and 37.1%, in payment accounts.
- POS card payments:17.1% of interoperable PCTs were made through debit cards at point-of-sale (POS) terminals, reaching 5.4 million transactions (-53.1% y.o.y.) for an amount of ARS95.6 billion (-41% y.o.y.).
- Token payments: 17.7% of interoperable PCTs were made through a token, accounting for 5.7 million payments (90.7% y.o.y.) for an amount of ARS38.1 billion (79.5% y.o.y.).
- Payment buttons:9.6% of interoperable PCTs were online transactions, accounting for 3.1 million payments (-54.4% y.o.y.) for an amount of ARS20 billion (-79.5% y.o.y.).
- Intra-PSPCP PCTs: they reached 252.2 million for an amount of ARS1,256.1 billion, rising 127.5% y.o.y. in volume, and 94.2% y.o.y. in value.
- QR code payments:they accounted for 15.6%, reaching 39.4 million transactions (70.5% y.o.y.) for an amount of ARS175.6 billion (59.1% y.o.y.).
- Online payments: they accounted for the remaining 84.4%, reaching 212.7 million transactions (142.5% y.o.y.) for an amount of ARS1,080.5 billion (101.5% y.o.y.).
- - Payment accounts and funds invested through PSPCPs.
In August, 15.6 million payment accounts with balances totaling ARS151.4 billion were recorded, whereas the balances of money market funds reached ARS447 billion. Payment accounts and money market funds jointly accounted for 2.21% of total private sector deposits, which amounted to ARS27.1 trillion in that month.
- Instant debit (DEBIN):
There were 31.5 million DEBINs (41% y.o.y.) for an amount of ARS644.7 billion (70.1% y.o.y.). In terms of the number of transactions, 0.4% were one-time DEBINs and 99.6%, recurring DEBINs.
- Direct debits.
There were 11.2 million debits (0.5% y.o.y.) for an amount of ARS411.05 billion (-21.2% y.o.y.), reaching a 60% success rate.
- Checks: electronic checks (ECHEQs) accounted for 65.4% of cleared amounts.
Almost 5 million checks (in paper and electronic form) were cleared for ARS4.34 trillion. The share of ECHEQs in total cleared checks was 40.6% (more than 2 million) in terms of volume and 65.4% (ARS2.84 trillion) in terms of value.
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Checks returned for insufficient funds: the rate of returned checks for insufficient funds over total cleared checks was 0.67% in terms of volume, and 0.42% in terms of value.
- Debit cards: there were 210 million debit card transactions for an amount of ARS1,358.67 billion, exhibiting a change of 25.2% y.o.y. in volume, and of 8.6% y.o.y. in value.
- Credit cards::the number of credit card transactions reached 114.1 million for an amount of ARS1,616.8 billion, changing 13.6% y.o.y. in volume, and 8.1% y.o.y. in value.
- Tarjeta de crédito:in June, there were 20,6 million payments for an amount of ARS92.2 billion, climbing 68% y.o.y. in volume and 55.7% y.o.y. in value.
- Transportation prepaid cards. There were 430.1 million trips (3.8% y.o.y.) paid with SUBE cards for a total of ARS18.9 billion (2.1% y.o.y.).
- Transportation prepaid cards.
There were 430.1 million trips (3.8% y.o.y.) paid with SUBE cards for a total of ARS18.9 billion (2.1% y.o.y.).
- Electronic credit invoices for MSMEs (factura de crédito electrónica MiPyME, FCEM).
In September, 86.6% of transactions were made in pesos, with 103.9 thousand electronic invoices processed in the system for the open transfer of e-invoices (sistema de circulación abierta, SCA) for an amount of ARS364.9 billion.
- Withdrawals.
- Withdrawals at ATMs: there were 95.3 million withdrawals from 17,485 ATMs for an amount of ARS1.6 trillion. The average number of monthly withdrawals per ATM was 5,452 with an average withdrawal amount of ARS16.5 thousand.
- Non-bank withdrawals through debit cards: there were 4.6 million withdrawals for an amount of ARS60.4 billion in August.
- Withdrawals through transfers: there were 2.3 million withdrawals for an amount of ARS41 billion in August.
- Withdrawals from payment accounts in agencies and shops: there were 2.7 million withdrawals for an amount of ARS50.3 billion in August.
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October 27, 2023
