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In November, consumption grew with debit and credit cards



Operation with credit card and dbito they grow 14 percent year on year in November lastly, driven by cell phones, airplane tickets, and services. According to the report prepared by Credit Card Association and Purchases (Atacyc), making invoices in peso grew by around 40% YoY in the same period.

According to work, 47.9 percent of service payments during November carried out by debit card; Meanwhile, a 43.9 percent of the airway acquired that month also materialized with the payment instrument. With credit cards, cell phones lead the operating level, with a 34.6 percent increase in transactions and 56.2 percent, always in a year-on-year comparison.

On the other hand, during the last month of this year there were fewer sales with debit and credit cards in household goods, furniture and clothing and footwear, according to Atacyc. It should be noted that in November, use electronic money is rcord with 31.4 percent of total deposits given the private sector.

That way, I beat 23 historical signs in two years. The report accompanying UDE Link's measurements states that, in line with the new monetary policy that limits, in November money demand fell again. "But the use of electronic money by the Red Link entity group reached a record 31.4 percent of the total bank deposits seen in the financial system," the letter said.

So, I rose five percentage points compared to the previous year, when it rose to 251,829 million pesos. It is important to note that the total transactions of all electronic payment channels increased in the last month of 2018, 26.7% YoY, meaning almost 365 million pesos.

From the physical and legal side, with an average of just a little more than 690 pesos per operation, I increased by a little more than 12 percent in just one year. Regarding the use of electronic money, it is detected that users pay for electricity, water and gas services along with national taxes, telephone and credit cards.

The truth is that the most dynamic growth was observed in the banking company segment which doubled in 20 months to 256,463 transactions, while in the physical group, the increase was more moderate, which was 22.1 percent. As indicated by the Institute for Social Development in Argentina (IDESA), the "surprise" of bankization through the massive use of electronic money could be a fundamental factor in achieving a reduction in the level of corruption and reducing tax evasion.


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