Monthly Report on Retail Payments - September 2022
- Instant push transfers: more than 5 out of 10 transactions administered by networks involved the use of a single virtual code (clave virtual uniforme, CVU).
- Administered by networks: there were 151.9 million instant transfers for an amount of ARS3.7 trillion, climbing 105.1% y.o.y. in volume, and 25.5% y.o.y. in value. Fifty-four percent of transfers (82 million) involved the use of a CVU—identifying a payer and/or a payee account.
- Intra-PSPCPs: more than 67.3 million (207.2% y.o.y.) instant transfers were made between payment service providers that offer payment accounts (proveedores de servicios de pago que ofrecen cuentas de pago, PSPCPs) for ARS198.6 billion (144.3% y.o.y.).
Payments by transfer (pagos con transferencia, PCTs): interoperable QR code payments have kept on gaining share.
- Interoperable PTCs: there were 26.4 million (72.7 % y.o.y.) interoperable PCTs for a total of ARS128.9 billion (15.5% y.o.y.).
- QR code payments: 18.7% of interoperable PCTs were initiated through interoperable QR codes, accounting for over 4.9 million payments. Payments from sight accounts represented 82.8%, and payments from payment accounts, 17.2%.
- On the contrary, 43.2% of stores credited the funds in payment accounts, and 56.8%, in sight accounts.
- POS card payments: 44.4% of interoperable PCTs (11.7 million) were made through debit cards at point-of-sale (POS) terminals.
- Token payments: 11.3% of interoperable PCTs (2.9 million) were made through a token.
- Payment buttons: 16.7% (4.4 million) were online transactions.
- Intra-PSPCP PCTs: this type of PCT reached 110.8 million for an amount of ARS288.2 billion, rising 158.9% y.o.y. in volume, and 104.5% y.o.y. in value. As for how they were initiated, 79.1% were online payments, and 20.9%, QR code payments.
- Instant debit (DEBIN): DEBINs increased 10.8% against the previous month, reaching 22.4 million transactions for an amount of ARS159 billion.
- Direct debit: the direct debit effectiveness indicator measures the ratio of transactions submitted for clearing to those credited to company accounts. With an effectiveness of 45.9%, the indicator evidences this instrument's recovery.
- Checks: electronic checks (ECHEQs) accounted for 57.4% of cleared amounts.
- A total of 4.9 million checks (in paper and electronic form) were cleared for ARS2 trillion, exhibiting an upward trend. ECHEQs’ share in total cleared checks was 31.5% (1.6 million) in terms of volume and 57.4% (ARS1,164 billion) in terms of value.
- Checks returned for insufficient funds: there was an increase both in terms of volume (37.6% y.o.y.) and in terms of value (53.3 % y.o.y.). However, the rate of returned checks for insufficient funds with respect to the total number of cleared checks remained stable: 0.7% in terms of volume, and 0.5% in terms of value.
- Cards: debit card transactions remained above credit card transactions.
- The number of debit card transactions reached 167.8 million for an amount of ARS557.6 billion, rising 21.2% y.o.y. in volume, and 5.6% y.o.y. in value.
- The number of credit card transactions reached 100.5 million for an amount of ARS666.79 billion, declining 1.8% y.o.y. in volume, and 4.4% y.o.y. in value.
- Transportation prepaid cards: the number of trips paid with a SUBE card amounted to 414.5 million (48.6% y.o.y.) for a total of ARS8.3 billion (10.3% y.o.y.), evidencing that passenger traffic has returned to normal.
- Electronic credit invoices for MSMEs (factura de crédito electrónica MiPyME, FCEM): in September, 87.6% of transactions involved 82.9 thousand electronic invoices in pesos for an amount of ARS158.5 billion under the system for the open transfer of e-invoices (sistema de circulación abierta, SCA).
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October 31, 2022