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

Summary

The month of analysis is January 2024, except for immediate “push” transfers and payments with intra PSPCP transfer (payment service provider that offers payment accounts), withdrawals, credit cards, debit cards and transport cards that the information is as of December 2023 and prepaid cards that include the data available as of December 2023.

Money transfers (immediate “push” transfers): remain at their highest level so far this year with a growth of 117.9% YoY.

Managed by networks: 384.3 million transactions were registered for $19.1 trillion, implying year-on-year increases of 117.9% and 14.3%, in quantities and amounts respectively. 69.6% had a CVU as their origin and/or destination, reaching 267.6 million operations.

Intra PSPCP: intra PSPCP money remittances reached 195.3 million transactions (109% YoY) for $1.7 trillion (58.8% YoY).

Money orders (“pull” instant transfers): reached 2 million operations.

2 million transfers were made for $ 72.6 billion, which represents a growth of 13.7% in quantity and 28.5% in amounts, compared to December.

Payments by transfer (PCT): interoperable QR reached 28.8 million transactions.

Interoperable: 39.5 million operations were carried out (46.7% YoY) for a total of $398.6 billion (-25.9% YoY).

-Initiated with QR: 72.8% were initiated with interoperable QRs, representing nearly 28.8 million payments (310.1% YoY) for $237.9 billion (235.8% YoY). 77.8% were made by customers who used their demand accounts and 22.2% their payment accounts. Likewise, 57.1% of businesses credited demand accounts and 42.9% paid accounts.
Currently, 60 interoperable digital wallets are incorporated into the registry.

-POS starters with card credentials: 9.2% of interoperable PCTs were made through the reading of debit card credentials at a point-of-sale (POS) terminal, reaching 3.6 million operations (-67.9% YoY) and $83.9 billion (-69.3% YoY).

-Initiated with random keys: 14.9% used a token for their startup; These are 5.9 million operations (65.7% YoY) for $67.5 billion (43% YoY).

-Initiated with payment button/link: 3.1% of operations correspond to this modality, reaching 1.2 million payments (-76.1% YoY) and $9.4 billion (-93.6% YoY).

-Intra PSPCP: they reached 308.7 million payments for $ 2.5 trillion, with year-on-year growth of 110.9% in amounts and 66% in amounts.

–Initiated with QR: they accounted for 15.3%, with 47.2 million transactions (72.2% YoY) for $393.9 billion (48.1% YoY).

–Initiated with payment button/link: correspond to the remaining 84.7%, with 261.5 million (119.8% YoY) of operations for $2.2 trillion (69.7% YoY).

Payment accounts and funds invested through PSPCPs:

In the month of December, 16.7 million payment accounts were registered with a total balance of $ 341 billion, while the balances invested in FCI of money reached $ 1.08 trillion pesos. Both concepts, considered together, represent 3.69% of the total deposits of the private sector, which was $ 38.5 trillion in the aforementioned month. Currently, 141 PSPs are included in the registry that offer payment accounts.

Immediate debit (DEBIN):

30.1 million (35.4% YoY) of operations were registered for $925.2 billion (17.3% YoY). Of the total amounts, 0.4% corresponds to occasional DEBIN and 99.6% to recurring DEBIN.

Direct debit:

11 million debits (2.3% YoY) were made for $551 billion (-31% YoY), with an effectiveness rate that reached 58%.

Checks: 67.6% of the amounts cleared correspond to ECHEQ.

4.8 million checks (physical and electronic) were cleared for a total of $7.2 trillion. ECHEQ’s share of the total number of cleared persons reached 42.7% in quantities (2.1 million electronic checks) and 67.6% in amount ($4.8 billion).

Rejections for reasons of “insufficient funds”: ratio to the total of compensated reached 0.57% in amounts and 0.35% in amounts.

Cards: The use of debit cards broadens your preference over credit cards.

Debit card: 293.5 million transactions were made for $3.2 trillion, representing variations of 36.1% YoY in amounts and 7.8% YoY in amounts.

Credit card: year-on-year variations of 19.9% in amounts and 5.1% in amounts are observed, making 138 million payments for $ 3.2 trillion.

Prepaid card: 21.4 million payments were made for $185.4 billion, representing increases of 31.2% and 12.9% YoY, in amounts and amounts respectively.

Prepaid transport cards:

372.4 million trips (0.6% YoY) were made using the SUBE card, totaling $19.2 billion (-21.4% 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) 124.9 thousand invoices for $ 550.5 billion.

Extractions

ATMs: 109.4 million withdrawals were made from the 17,442 ATMs for a total of $2.2 billion, with the average number of withdrawals at each ATM being 6,270. The average withdrawal amount reached $20.4k.

Extrabank debit cards: 6.1 million for $120.2 billion.

Withdrawals with transfer: 2.8 million for $65.5 billion.

In agencies and businesses from payment accounts: 3.3 million for $ 82.2 billion.