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

Summary

Money transfers (immediate “push” transfers) registered a growth of 111.2% YoY.

Managed by networks: 321 million immediate “push” transfers were registered for $ 11.7 trillion, which imply year-on-year increases of 111.2% and 33%, in quantities and amounts. 65.8% had a CVU as their origin and/or destination, reaching 211.2 million operations.

Intra PSPCP: intra PSPCP money remittances reached 154.3 million transactions (128.9% YoY) for $820.5 billion (84.1% YoY).

Money requests (immediate “pull” transfers).

453.1 thousand transfers were made for $ 13.3 billion, which represents a growth of 250.6% in quantity and 260.1% in amounts, compared to August.

Payments by transfer (PCT)): the interoperable QR reached 17.8 million transactions.

Interoperable PCTs: 32.1 million transactions (21.6% YoY) were carried out for a total of $246 billion (-20% YoY).

-Initiated with QR: 55.6% were initiated with interoperable QRs, representing more than 17.8 million payments (260.8% YoY) for $92.2 billion (245.8% YoY). 82.2% were made by customers who used their demand accounts and 17.8% their payment accounts. Likewise, 62.9% of the merchants credited in demand accounts and 37.1% in payment accounts.

-POS starters with card credentials: 17.1% of payments were made through the reading of debit card credentials at a point-of-sale (POS) terminal, reaching 5.4 million operations (-53.1% YoY) and $95.6 billion (-41% YoY).

-Initiated with random keys: 17.7% of interoperable PCTs used a token for their initiation; These are 5.7 million operations (90.7% YoY) for $38.1 billion (79.5% YoY).

-Initiated with payment button/link: 9.6% of operations correspond to this modality, reaching 3.1 million payments (-54.4% y.a.) and $ 20 billion. (-79.5% YoY).

PCT intra PSPCP: reached 252.2 million payments for $ 1,256.1 billion, with year-on-year growth of 127.5% in amounts and 94.2% in amounts.

-Initiated with QRs: they accounted for 15.6%, with 39.4 million transactions (70.5% YoY) for $175.6 billion (59.1% YoY).

-Initiated with payment button/link: correspond to the remaining 84.4%, with 212.7 million (142.5% YoY) of operations for $1,080.5 billion (101.5% YoY).

Payment accounts and funds invested through PSPCPs:

In the month of August, 15.6 million payment accounts were registered with a total balance of $151.4 billion, while the balances invested in FCI of money reached $447 billion. Both concepts, considered together, represent 2.21% of the total deposits of the private sector, which was $ 27.1 trillion in the aforementioned month.

Immediate debit (DEBIN):

31.5 million (41% YoY) of operations were registered for $644.7 billion (70.1% YoY). Of the total amounts, 0.4% corresponds to occasional DEBIN and 99.6% to recurring DEBIN.

Direct debit:

11.2 million debits (0.5% YoY) were made for $411.05 billion (-21.2% YoY), with an effectiveness rate^[7] that reached 60%.

Cheques: 65.4% of the amounts cleared correspond to ECHEQ.

Nearly 5 million checks (physical and electronic) totaling $4.34 trillion were cleared. ECHEQ’s share of the total number of cleared persons reached 40.6% in quantities (plus 2 million electronic checks) and 65.4% in amount ($2.84 billion).

Rejections for reasons of “insufficient funds”: the ratio to the total compensated reached 0.67% in amounts and 0.42% in amounts.

Cards: the use of debit cards remains above credit cards.

Debit card: 210 million transactions were made for $1,358.67 billion, representing variations of 25.2% YoY in amounts and 8.6% YoY in amounts.

Credit card: year-on-year variations of 13.6% in amounts and 8.1% in amounts, with 114.1 million payments being made for $1,616.8 billion.

Prepaid card: in the month of June, 20.6 million payments were made for $92.2 billion, which represents increases of 68% and 55.7% YoY, in amounts and amounts respectively.

Prepaid transport cards:

430.1 million trips (3.8% YoY) were made through the SUBE card, totaling $18.9 billion (2.1% YoY).

Electronic Invoicing for MSMEs (FCEM):

In the month of analysis, 86.6% of the operations were carried out in pesos, entering the open circulation system (SCA) 103.9 thousand invoices for $ 364.9 billion.

Extractions:

ATMs: 95.3 million withdrawals were made from the 17,485 ATMs for a total of $1.6 billion, with the average number of withdrawals at each ATM being 5,452. The average withdrawal amount reached $16.5k.

Extrabank debit cards: 4.6 million for $60.4 billion in August.

Withdrawals with transfer: 2.3 million for $41 billion in August.

In agencies and businesses from payment accounts: $2.7 million $50.3 billion in August.