Monthly Report on Retail Payments, July 2023

- Transfers (instant push transfers) increased 106% y.o.y.

    • Administered by networks: there were 287.6 million instant push transfers for an amount of ARS9.1 trillion, climbing 105.8% y.o.y. in volume, and 27% y.o.y. in value. Sixty-four point one percent of transfers (184.5 million) involved the use of a single virtual code known as CVU—identifying a payer and/or a payee account.
    • Intra-PSPCP: transfers between accounts belonging to the same payment service provider that offers payment accounts (proveedor de servicios de pago que ofrece cuentas de pago, PSPCP) reached ARS593 billion (72.9% y.o.y.), involving 127.3 million transactions (122% y.o.y.).

- Payments by transfer (pagos con transferencia, PCTs): transactions with interoperable QR codes exceeded 13 million.

    • Interoperable PCTs: there were 32.1 million (24% y.o.y.) interoperable PCTs for a total of ARS224.8 billion (-18.7% y.o.y.).
      • QR code payments: 40.5% of interoperable PCTs were initiated through interoperable QR codes, accounting for over 13 million payments (206.5% y.o.y.) for an amount of ARS56.8 billion (172.1% y.o.y.). Payments from sight accounts represented 84.9%, and payments from payment accounts, 15.1%. Moreover, 64.3% of stores credited the funds in sight accounts, and 35.7%, in payment accounts.
      • POS card payments: 32.5% of interoperable PCTs were made through debit cards at point-of-sale (POS) terminals, reaching 10.4 million transactions (-17.5% y.o.y.) for an amount of ARS116.5 billion (-23.4 % y.o.y.).
      • Token payments: 14.9% of interoperable PCTs were made through a token, accounting for 4.8 million payments (31.3% y.o.y.) for an amount of ARS26.9 billion (20.7% y.o.y.).
      • Payment buttons: 12.1% of interoperable PCTs were online transactions, accounting for 3.9 million payments (-27.6% y.o.y.) for an amount of ARS24.6 billion (-69.7% y.o.y.).
    • Intra-PSPCP PCTs: they reached 197.7 million for an amount of ARS864.9 billion, rising 102.7% y.o.y. in volume, and 69.7% y.o.y. in value.
      • QR code payments: they accounted for 16.7%, reaching 32.9 million transactions (62.2% y.o.y.) for an amount of ARS126.4 billion (44.6% y.o.y.).
      • Online payments: they accounted for the remaining 83.3%, reaching 164.7 million transactions (113.3% y.o.y.) for an amount of ARS738.5 billion (74.9% y.o.y.).

- Payment accounts and funds invested through PSPCPs: in June, 15.8 million payment accounts with balances totaling ARS148.2 billion were recorded, whereas the balances of money market funds reached ARS317.5 billion. Payment accounts and money market funds jointly accounted for 2% of total private sector deposits, which amounted to ARS23.3 trillion in that month.

- Instant debit (DEBIN): there were 30.9 million DEBINs (46.9% y.o.y.) for an amount of ARS528.2 billion (72.2% y.o.y.). In terms of the number of transactions, 0.4% were one-time DEBINs and 99.6%, recurring DEBINs.

- Direct debit: there were 11.7 million debits (6.3% y.o.y.) for an amount of ARS353.1 billion (-16.9% y.o.y.), reaching a 53.9% success rate.

- Checks: electronic checks (ECHEQs) accounted for 64.5% of cleared amounts.el 64,5 % de los montos compensados corresponde a ECHEQ.

  • · A total of 5 million checks (in paper and electronic form) were cleared for ARS3.7 trillion. The share of ECHEQs in total cleared checks was 39% (2 million) in terms of volume and 64.5% (ARS2.4 trillion) in terms of value.

  • · Checks returned for insufficient funds: the rate of returned checks for insufficient funds over total cleared checks was 0.76% in terms of volume, and 0.47% in terms of value.

- Cards: debit card use remained above credit card use.

  • Debit cards: there were 194 million debit card transactions for an amount of ARS1,099.8 billion, exhibiting a change of 10.9% y.o.y. in volume, and of -4.7% y.o.y. in value.
  • Credit cards: the number of credit card transactions reached 113.1 million for an amount of ARS1,354.6 billion, changing 10.9% y.o.y. in volume, and -1% y.o.y. in value.
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-Transportation prepaid cards: there were 391.8 million trips (4.4% y.o.y.) paid with SUBE cards for a total of ARS15.1 billion (15.4% y.o.y.).

- Electronic credit invoices for MSMEs (factura de crédito electrónica MiPyME, FCEM): in July, 87% of transactions involved 99.9 thousand electronic invoices in pesos for an amount of ARS318.3 billion under the system for the open transfer of e-invoices (sistema de circulación abierta, SCA).

-Withdrawals from ATMs: there were 98.4 million withdrawals from 17,457 ATMs for an amount of ARS1,518.3 billion. The average number of monthly withdrawals per ATM was 5,634, with an average withdrawal amount of ARS15.4 thousand.

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August 30, 2023

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