Post by account_disabled on Feb 19, 2024 22:57:31 GMT -5
The data comes from the Payway Index. They point out that it is due to a greater frequency in the use of electronic payment methods and the increase in their acceptance, which motivates the growth of consumer banking. During the last quarter of 2023, the use of debit for purchases grew to 65% of the total volume operated with plastic and is gaining ground on cash. This is highlighted by the company Payway, in its latest quarterly index. The last stretch of the year was characterized by the rapid increase in prices, uncertainty due to the change of Government and expectations of devaluation after the 21.5% exchange rate correction, which was finally applied on December 13.
The Payway Index is a market study of payment methods in Argentina, which is based on statistical data from various terminals, such as QR, proprietary Asia Mobile Number List systems, eCommerce, automatic debits, cash withdrawals and electronic transactions, among others. The head of Institutional Relations of the company, Julián Ballarino, highlights that the growth in consumption through plastic is marked by the regular use of electronic and digital payment methods and the increase in their acceptance, which continues to drive consumer banking. Know more New summer season, new consumption changes. The expansion of the subjects included in the program.
Goods and services from the following categories are incorporated. Advancement in consumption to alleviate inflation Thus, for the first time it is detected that 65.36% of debit card use was allocated to purchases made during the last quarter of the year, above its use for cash withdrawals at ATMs -30.82% - and cash withdrawals in stores, below 4%. . “These data must be read in light of the electoral ups and downs of the fourth quarter. “Much of what is seen in this data is an advance in consumption.” explains EPyCA Consultora economist Martín Kalos. In particular, for example, he points out what happened within tourism: “people paid in advance for the vacations they are taking now, that is, in August, September, October and November.
The Payway Index is a market study of payment methods in Argentina, which is based on statistical data from various terminals, such as QR, proprietary Asia Mobile Number List systems, eCommerce, automatic debits, cash withdrawals and electronic transactions, among others. The head of Institutional Relations of the company, Julián Ballarino, highlights that the growth in consumption through plastic is marked by the regular use of electronic and digital payment methods and the increase in their acceptance, which continues to drive consumer banking. Know more New summer season, new consumption changes. The expansion of the subjects included in the program.
Goods and services from the following categories are incorporated. Advancement in consumption to alleviate inflation Thus, for the first time it is detected that 65.36% of debit card use was allocated to purchases made during the last quarter of the year, above its use for cash withdrawals at ATMs -30.82% - and cash withdrawals in stores, below 4%. . “These data must be read in light of the electoral ups and downs of the fourth quarter. “Much of what is seen in this data is an advance in consumption.” explains EPyCA Consultora economist Martín Kalos. In particular, for example, he points out what happened within tourism: “people paid in advance for the vacations they are taking now, that is, in August, September, October and November.