Prisma, an electronic means of payment company in Argentina, published a quarterly report in 2023 revealing an increase in the use of debit cards as a means of payment. The report shows that 56.78% of users use debit cards for their purchases.
The same report shows that only 4.14% withdraw cash at the premises and 39.07% withdraw cash at ATMs. This report is a clear sign that Argentines are increasingly comfortable using electronic means of payment. and prefer debit cards as an option.
Debit cards have become popular because they offer a convenient and secure way to make purchases and pay bills online. In addition, Argentines are increasingly concerned about the security of their transactions and prefer to avoid the use of cash.
The report further states that “Cards continue to gain ground over cash. is given a interannual growth of operations with credit card of 22.44% and 6.27% with debit card”.
Regarding the use of credit cards in Argentina, Prisma points out that theArgentines are opting for increasingly shorter financing plansleading the “Now 3” option with 37.03%, followed by the “Now 6” plan with 30.51%.
Then there are other options such as “Now 12” with 29.46%, “Now 18” with 2.54%. The two least used plans are the “Now 24” and “Now 30” plans with 2.54% and 0.02% respectively.
The selection of financing at shorter terms is not arbitrary, since interest rates for financing have risen considerably and there are few opportunities to pay in interest-free installments.
As Argentines continue to adopt more advanced payment technologies, it is important that businesses and merchants adapt to offer electronic payment options.
The versatility to make payments for products and services allows cards to be a greater daily use than the use of cash.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.