This monthly report presents the status, outlook and evolution of retail payment methods in the country

Summary

Immediate “push”
transfersManaged by networks: 209.4 million immediate “push” transfers were made for $5.7 trillion, which translates into year-on-year growth of 109.7% and 23.9%, in quantities and amounts respectively. 59.1% of the total had a CVU as its origin and/or destination, reaching 124.2 million operations.
Intra PSPCP: immediate intra PSPCP money remittances reached 85.6 million transactions (152.4% YoY) for $337.1 billion (89.2% YoY).

Payments with transfer (PCT): interoperable QR exceeded 8.5 million transactions. Transfer payments reached 166.8 million operations for a total of $662.9 billion, made up of 16.1% interoperable payments and 83.9%
for intra PSPCP payments, while the amounts represent 23.1% and 76.9% respectively.
Interoperable PCTs: reach 31.2 million operations (56.8% YoY) for a total of $172.8 billion (-1.4% YoY).
-Initiated with QR: 27.5% were initiated with interoperable QRs, which represents almost 8.6 million payments. 81.7% were made by customers who used their demand accounts and 18.3% their payment accounts. Likewise, 62% of businesses credited demand accounts and 38% in payment accounts.
-POS starters with card credentials: 42.9% of payments were made through the reading of debit card credentials at a point-of-sale (POS) terminal, reaching 13.4 million operations.
-Initiated with random keys: 3.9 million transactions used a token for their initiation (12.7%).
-Initiated with a payment button: 16.9% originated in transactions via the web, reaching 5.3 million payments.

PCT intra PSPCP: reached 140 million payments for $ 509.7 billion, with year-on-year growth of 125.5% in amounts and 84.5% in amounts.

-Initiated with QR: they represented 18.2%, with 25.5 million transactions (87.6% y.o.y.) for $ 80.5 billion (59.8% y.o.y.).
-Initiated on the web: they correspond to the remaining 81.8%, with 114.4 million (136.1% y.o.y.) of operations for $ 429.2 billion (90% y.o.y.).

Payment accounts and funds invested through the PSPCPs: 16.2 million payment accounts were registered in February with a total balance of $100.9 billion, while the balances invested in FCI of money reached $186.8 billion.
Both concepts, considered together, represent 1.63% of the total deposits of the private sector, which was $ 17.6 trillion in the aforementioned month.
Immediate Debit (DEBIN): immediate debits increased by 6.3% compared to the previous month with a growth of 131.3% YoY, reaching 23.6 million operations for $262.1 billion; in terms of the number of transactions, 0.4% corresponds to occasional DEBIN and 99.6% to recurring DEBIN.
Direct debit: 11.2 million debits (3.1% YoY) were made for $254.3 billion (-3.4% YoY), with an effectiveness rate8 that reached 51.5%.

Checks: 61% of the amounts cleared correspond to the ECHEQ.
4.9 million checks (physical and electronic) were cleared for a total of $2.7 trillion. ECHEQ’s share of the total number of cleared persons reached 35.2% in quantities (1.7 million electronic checks) and 60.7% in amount ($1.6 billion)

Rejections for reasons of “insufficient funds”: the relationship with the total number of compensated parties evidenced, in this report, an increase in rates reaching 0.89% in quantities and 0.65% in amounts.
Cards: the use of debit cards remains above credit cards.

Debit card: 177.1 million transactions were made for $804.8 billion, representing variations of 12.3% YoY in amounts and -3.1% YoY in amounts.

Credit card: year-on-year variations of 11.6% in amounts and -1.5% in amounts, with 103.4 million payments being made for $877.6 billion.

Prepaid transport cards: 293.1 million trips were made (17.9% YoY) through the SUBE card, totaling $9.2 billion (11.3% YoY).

Electronic Invoicing for MSMEs (FCEM): in the month of March, 89.6% of operations were carried out in pesos, with 125.6 thousand invoices entering the open circulation system (SCA) for $ 248.2 billion.

ATM withdrawals: 94.1 million withdrawals were made from the 17,426 ATMs for a total of $1,171.9 billion, with the average number of withdrawals at each ATM being 5,398. The average monthly amount reaches $12 thousand