Monday , August 2 2021

In November, consumption grew with debit and credit cards

Operations with credit cards and dbito they have increased 14 per cent for one year in November last, operated by mobile phone, airline tickets and services. According to a report prepared by Credit Card Association and Procurement (Atacyc), billing in pesos increased by about 40 percent year on year over the same period.

According to the work, 47.9 percent of service payments in November this was done with a debit card; meanwhile, a 43.9 percent of air passages that month, it also materialized with that means of payment. With credit cards, the mobile phone runs the operating level, with an increase of 34.6 percent in transactions and 56.2 percent, always compared to the year.

On the other hand, during the last month of the current year there were fewer sales with debit and credit cards in the household goods, furniture and clothing and footwear, according to Atacik. It should be noted that in November, the use of Electronic money was spent with 31.4% of the total deposits in the private sector.

In that way, I won 23 historical marks in two years. The report accompanying the measurement of UDE Link argues that, in line with the new restrictive monetary policy, demand for money fell again in November. "But the use of electronic money by the group of Red Face figures reached a record of 31.4 percent of total bank sight deposits in the financial system," the letter said.

So, I went up to five percentage points compared to a year earlier, when it reached 251,829 million pesos. It is important to note that the total transactions of all electronic payment channels have increased in the last month of 2018 by 26.7 percent year on year, or almost 365 million pesos.

By natural and legal persons, with an average of just a little over 690 pesos per operation, I rose slightly more than 12 percent in just one year. Regarding the use of electronic money, it is determined that consumers pay electricity, water and gas services together with national taxes, telephone and credit cards.

The truth is that the most dynamic growth was registered in the segment of banking companies, which doubled in 20 months to 256,463 transactions, while the increase in the group was more moderate, compared to 22.1%. As the Institute for Social Development in Argentina (IDESA) suggests, the "shock" of the bank through the massive use of electronic money can be a basic factor for reducing the level of corruption and reducing tax evasion.

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