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

Summary

Immediate “push” transfers: More than half of network-managed operations involve a Uniform Virtual Key (CVU).
Managed by networks: 162.9 million immediate “push” transfers were made for $3.8 trillion, which translates into year-on-year growth of 104.2% and 18.3%, in quantities and amounts respectively. 54% of the total had a CVU4 as its origin and/or destination, reaching 88 million operations.
Intra PSPCP: Immediate intra PSPCP money remittances exceeded 74.4 million transactions (202.4% YoY) by $222.3 billion (134.9% YoY).

Transfer payments (PCT): Interoperable QR continues to gain share as a payment option.
Interoperable PCTs: reach 25.2 million operations (40.7% YoY) for a total of $130.6 billion (2% YoY).
-Initiated with QR: 19.9% were initiated with interoperable QRs, which represents more than 5 million payments. 80.4% were made by customers who
used their demand accounts and 19.6% their payment accounts. On the other hand, 45.7% of businesses credited payment accounts and 54.3% demand accounts.
-POS starters with card credentials: 49% of payments were made through the reading of debit card credentials at a point-of-sale (POS) terminal, reaching 12.4 million operations.

-Initiated with random keys: 2.5 million of transactions used a token for their initiation (9.9%).
– Initiated with a payment button: 11.7% originated in online transactions, reaching 2.9 million payments.

PCT intra PSPCP: reached 119.4 million payments for $ 317.4 billion, with year-on-year growth of 152.4% in quantities and 98.2% in amounts. 80.1% were initiated on the web and 19.9% with the reading of a QR code.

Payment accounts and funds invested through PSPCPs:
In September, 15.1 million payment accounts were registered with a balance and totaling $71.6 billion, while the balances invested in FCI of money reached $87.6 billion. Both concepts, considered together, reach 1.21% of the total deposits of the private sector, which was $ 13 trillion in that month.

Immediate Debit (DEBIN): Immediate debits increased by 5.3% compared to the previous month, reaching 23.5 million operations for $175.9 billion.

Direct debit: 11.1 million debits (7.8% YoY) were made for $213.4 billion (-1.2% YoY), with an effectiveness rate8
that reached 48.3%.

Cheques: 57.9% of the amounts cleared correspond to ECHEQ.

4.9 million checks (physical and electronic) were cleared for a total of $2.0 trillion, maintaining an upward trend. ECHEQ’s share of the total number of cleared persons reached 32.3% in quantities (1.6 million electronic checks) and 57.9% in amount ($1.179 billion).
Rejections for reasons of “insufficient funds”: a year-on-year increase was observed both in quantities (43.3%) and in amounts (47.5%). However, the relationship with the total number of compensated continues to show stable rates, of 0.8% in quantities and 0.6% in amounts.

Cards: debit cards are the instrument of choice over credit cards.
Debit card transactions reached 166.5 million for $569.4 billion, representing growth of 21.6% YoY in amounts and 5.2% YoY in amounts.

In credit operations, year-on-year variations of 3.8% in amounts and 0.5% in amounts were observed, with 103.6 million payments being made for $727.9 billion.

Prepaid transport cards: 398.5 million trips were made (35% YoY) using the SUBE card, totaling $8.2 billion (2.6% YoY).

Electronic Invoicing for MSMEs (FCEM): in the month of September, 87.9% of operations were carried out in pesos, with 94.7 thousand invoices entering the open circulation system (SCA) for $ 163.3 billion.