Monthly report that analyzes the state and evolution of retail means of payment.

Summary

The month of analysis is November 2024, except for withdrawals, credit cards, debit cards and transport cards that the information corresponds to October 2024 and prepaid cards that include the data available as of September 2024.

Money transfers (immediate “push” transfers): reported a growth in amounts of 54.4% y.o.y.

In pesos: 580.4 million transactions were registered for $ 51 billion, which imply year-on-year increases of 54.4% and 23.5%, in quantities and amounts respectively. 70.5% had a CVU as their origin and/or destination.

In foreign currency: 2.1 million operations (153.6% YoY) were registered for USD 3,543 million (193.5% YoY).

Money deposits (immediate “pull” transfers): 40.6 million operations.

40.6 million transfers were made for $ 2.4 trillion, -0.6% in amounts and 5.2% in amounts, compared to October.

Transfer payments (PCT): interoperable QR reached 55.7 million transactions.

Interoperable: 59.6 million operations (61.5% YoY) were carried out for a total of $882.8 billion (6.2% YoY).

-QR: 93.5% started with interoperable QRs, which represents 55.7 million payments (133.4% YoY) for $809.7 billion (109.7% YoY). 66.8% were made by customers who used their demand accounts and 33.2% their payment accounts. Likewise, 47% of merchants credited demand accounts and 53% in payment accounts.
Currently, 67 interoperable digital wallets are registered with the BCRA.

-With random keys: 6.5% used a token for their startup; These are 3.9 million operations (-33.6% YoY) for $73.1 billion (-41.6% YoY).

Payment accounts and funds invested through PSPCPs:

In October, out of a total of 51.9 million accounts, 14.5 million payment accounts were registered with a balance totaling 401.5 billion pesos, while the balances invested in FCI of money reached 3.2 trillion pesos. Both concepts, considered together, represent 5.20% of the total deposits in pesos of the private sector, which was $ 69.4 billion in the aforementioned month. At present, 170 PSPCPs are included in the register.

Direct debit:

12.1 million debits (6.8% YoY) were made for $1.3 trillion (12.2% YoY), with an effectiveness rate that reached 54.8%.

Cheques: 77.5% of the amounts cleared correspond to ECHEQ.

4.9 million checks (physical and electronic) were cleared for a total of $14 billion. ECHEQ’s share of the total number of cleared persons reached 51.7% in quantities (2.5 million electronic checks) and 77.5% in amount ($10.8 billion).

Rejections for reasons of “insufficient funds”: the ratio to the total number of compensated reached 0.71% in amounts and 0.5% in amounts.

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

Debit: 240.3 million transactions were made for $4.9 trillion, with variations of -4.5% YoY in amounts and -13.9% YoY in amounts.

Credit: year-on-year variations of 18.5% in amounts and -10% in amounts are observed, with 172.2 million payments being made for $7.4 trillion. The channels used are POS and QR with 43%, e-commerce with 31%, followed by automatic debit with 16%.

Prepaid card: 42.3 million payments were made for $616.6 billion, representing increases of 97.3% and 65.9% YoY, in amounts and amounts respectively.

Prepaid transport cards:

400 million trips (-9.5% YoY) were made using the SUBE card, totaling $128.3 billion (117.5% YoY).

Electronic Invoicing for MSMEs (FCEM):

In the month under analysis, 88.5% of the operations were carried out in pesos, with 114.4 thousand invoices entering the open circulation system (SCA) for $ 1.1 trillion.

Extractions:

90% of withdrawals are made from ATMs.

ATMs: 84.6 million withdrawals were made from the 17,099 ATMs for a total of $3 billion, with the average number of withdrawals at each ATM being 4,947. The average withdrawal amount reached $35.6k.

Extrabank debit cards: 5.5 million for $230.4 billion, with an average amount of $41.8 thousand.

Extrabank from intra PSPCP (“closed loop”) payment accounts: 3.4 million for $141.8 billion, with an average amount of $41.9 thousand.