Report on Retail Payments, May 2024
The month under analysis is May 2024, except for the following: push instant transfers, payments by transfer through the same payment service provider that offers payment accounts (proveedor de servicios de pago que ofrece cuentas de pago, PSPCP), withdrawals, credit cards, debit cards and travel cards (information as of April 2024); and prepaid cards (information as of March 2024).
Instant push transfers increased 119.7% y.o.y. in volume.
- In pesos:
- Administered by networks (off-us): there were 514.9 million instant push transfers for an amount of ARS36.8 trillion, climbing 119.7% y.o.y. in volume, and 41.6% y.o.y. in value. Fifty-nine point seven percent of transfers were made from or to a virtual account through a single virtual code known as CVU.
- Intra PSPCP (on-us): ARS2.7 trillion (51.7% y.o.y.) transfers were made between accounts belonging to the same PSPCP, involving 237.8 million transactions (117.2% y.o.y.).
- In foreign currency:: there were 1.3 million transactions (205.6% y.o.y.) for an amount of USD2,005.5 million (121.6% y.o.y.), push transfers account for 96.2% of total transfers in foreign currency.
Instant pull transfers reached 2.3 million transactions.
- There were 2.3 million transfers for an amount of ARS132.7 billion, rising 4.4% in volume and 13.3% in value against April.
Payments by transfer (pagos con transferencia, PCTs): transactions with interoperable QR codes totaled 42 million.
- Interoperable: there were 49.7 million (59.8% y.o.y.) interoperable PCTs for a total of ARS522.2 billion (-21.4% y.o.y.).
- QR code payments: 84.6% of interoperable PCTs were initiated through interoperable QR codes, accounting for over 42 million payments (297.3% y.o.y.) for an amount of ARS452.8 billion (230.9% y.o.y.). Payments from sight accounts represented 68.6%, and payments from payment accounts, 31.4%. Moreover, 46.8% of stores credited the funds in sight accounts, and 53.2%, in payment accounts.
Sixty interoperable e-wallets are currently registered in the registry. - Token payments:15.4% of interoperable PCTs were made through a token, accounting for 7.6 million payments (97.7% y.o.y.) for an amount of ARS69.4 billion (4% y.o.y.).
- Intra PSPCP: they reached 370.2 million for an amount of ARS3.9 trillion, rising 114.2% y.o.y. in volume, and 51% y.o.y. in value.
- QR code payments: they accounted for 14.8%, reaching 54.7 million transactions (83.2% y.o.y.) for an amount of ARS594.6 billion (51.6% y.o.y.).
- Payment button: they accounted for the remaining 85.2%, reaching 315.5 million transactions (120.7% y.o.y.) for an amount of ARS3.4 trillion (50.9% y.o.y.).
Payment accounts and funds invested through PSPCPs:
In April, 16.7 million payment accounts with balances totaling ARS493.5 billion were recorded, whereas the balances of money market funds reached ARS1.9 trillion. Payment accounts and money market funds jointly accounted for 4.85% of total private sector deposits, which amounted to ARS48.8 trillion in that month. One hundred and forty-nine PSPCPs are currently registered in the registry.
Instant debit (DEBIN):
There were 35.7 million DEBINs (36.7% y.o.y.) for an amount of ARS1.5 trillion (15.5% y.o.y.). In terms of the number of transactions, 0.5% were one-time DEBINs and 99.5%, recurring DEBINs.
Direct debits:
There were 12.2 million debits (7.6% y.o.y.) for an amount of ARS880.8 billion (-14.7% y.o.y.), reaching a 56% success rate.
Checks: e-checks accounted for 73.4% of cleared amounts.
- A total of 5 million checks (in paper and electronic form) were cleared for ARS10.8 trillion. The share of e-checks in total cleared checks was 45.7% (2.3 million) in terms of volume and 73.4% (ARS7.9 trillion) in terms of value.
- Checks returned for insufficient funds: the rate of returned checks for insufficient funds over total cleared checks was 0.56% in terms of volume, and 0.48% in terms of value.
Cards: debit card use remained above credit card use.
- Debit cards: there were 236.2 million debit card transactions for an amount of ARS3.4 trillion, exhibiting a change of 22.7% y.o.y. in volume, and of -8.2% y.o.y. in value.
- Credit cards: the number of credit card transactions reached 148.5 million for an amount of ARS4.4 trillion, changing 13.3% y.o.y. in volume, and -17% y.o.y. in value.
Transportation prepaid cards:
There were 399.7 million trips (9.5% y.o.y.) paid with SUBE cards for a total of ARS82 billion (72.5% y.o.y.).
Electronic credit invoices for MSMEs (factura de crédito electrónica MiPyME, FCEM):
In May, 87.7% of transactions were made in pesos, 124.6 thousand electronic invoices having been processed in the system for the open transfer of e-invoices (sistema de circulación abierta, SCA) for an amount of ARS917.6 billion.
Withdrawals:
Ninety percent of withdrawals are made from ATMs.
- Withdrawals from ATMs: : there were 90.9 million withdrawals from 17,076 ATMs for an amount of ARS2.1 trillion. The average number of monthly withdrawals per ATM was 5,322 with an average withdrawal amount of ARS23.3 thousand.
- Non-bank withdrawals through debit cards: 7.1 million transactions for an amount of ARS186.4 billion, with an average withdrawal amount of ARS26.4 thousand.
- Non-bank withdrawals from accounts belonging to the same PSPCP (closed loop): 3.4 million transactions for an amount of ARS97.7 billion, with an average withdrawal amount of ARS28.8 thousand.
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June 28, 2024
