Report on Retail Payments

National Payment System (SNP):

− Total SNP transactions represented 3.9 times the Gross Domestic Product (GDP).
− A 13.3% year-on-year (YoY)1 increase in the number of transactions was observed in 2025.
− Immediate payments accounted for 64% of the SNP transaction amount and 102% of GDP.

Electronic Funds Transfers:

− They accounted for 65.6% of the total operations of the SNP.
− Immediate push transfers increased by 25.6% YoY in quantities, with more than 61% being made to or from a Uniform Virtual Key (CVU).
− The number of interoperable payment transfer (PCT) transactions showed a growth of 40.7% YoY.

Cards:
− The number of credit card payments increased by 6.7% YoY. However, its share of total retail payments declined to 13.6%.
− Debit cards fell by 14.5% in the number of transactions i.a., and their share also fell to 15.9%.
− Finally, transactions with prepaid cards grew by 22.4% YoY and their share increased to 3.4%.

Checks:
− 60.4 million checks were cleared for a total of $222.3 billion in nominal terms.
− ECHEQ accounted for 56.7% of the total volume and 80.4% of the amounts compensated.

Electronic Credit Invoice for MSMEs (FCEM):
− The trading of FCEMs in the Argentine Securities Market registered a YoY growth of 246.6% in the number of invoices negotiated and 111.2% in amounts in real terms.
− The negotiation of the FCEM within the MSME Financing Platforms had an I.A. increase of 14.8% in the number of invoices negotiated and decreased 22.6% in amounts in real terms.

Relevant innovations in 2025:
− Implementation of the Trip with QR (VQR) payment instrument, applicable to the SUBE network and to any transport system that adopts the QR code as a form of payment.
− Expansion of the use of QR quick response codes to debit cards for accounts in foreign currency.
− Commitment to fraud mitigation through the creation of a permanent updated register of demand and payment account holders.
− Flexibility in terms of guarantees that resolves inefficiencies in the management of intraday cash flows.
− Enhancements to the ECHEQ product, including the implementation of ECHEQ in US dollars.
− Creation of a variant of the recurring DEBIN called DEBIN programmed for payments in installments both in pesos and in foreign currency.