Credit cards: tourism spending has increased

The bone card payments they continue to gain space for cash, even after movement restrictions are removed. This is shown by the latest data from the Prisma index of means of payment, which measures the use made by Argentines of credit, debit and prepaid cards.

In the first quarter of 2022, the year on year growth the number of credit and debit card transactions expected in the last quarter of 2021″, commented Julien Ballarinoresponsible for the company’s institutional relations.

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In the last edition, the indicator incorporated a detail of the elements with the highest number of payments made with plastics. Between the first quarter of 2021 and the same period of 2022, the 48.6% growth in transactions related to travel, tourism and airlines.

Transaction volume is already split evenly between debit and <a class=credit cards. (Photo: Prism Index).” data-src=”https://tn.com.ar/resizer/S2xe3XZVQ4dZysHeRUTA71te-48=/767×0/smart/filters:quality(60)/cloudfront-us-east-1.images.arcpublishing.com/artear/XI3M5CRQ55FDHGLMI7LDBLKVZM.png”/>
Transaction volume is already split evenly between debit and credit cards. (Photo: Prism Index).

The main explanation for this result was related to the elimination of almost all sanitary restrictions for the summer season and, in addition, the promotion of the Previaje program. Also related to leisure, payments made in restaurants increased by 35.3%.

More debit, less cash

Between the first quarter of 2021 and the same period of 2022, increased by 23.2% The quantity of transactions made with debit cardswhich continue to gain ground against cash, according to the index compiled by prism.

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Most purchases promoted cash withdrawal in stores, which increased by 5.3% when comparing the first quarters of each year. In contrast, ATM withdrawals fell 4.7% over the same period.

Debit card purchases have increased over the past year, while cash withdrawals continue to decline. (Photo: Prism Index).

The increased preference for electronic means of payment to the detriment of species is also seen in volume transactions carried out with the debit card, which it already represents 49.2% of the total.

Since the first quarter of this year, 52.9% volume who moved the debit cards corresponded to shopping (6 points above the level of the previous year); 43.6% can be explained by cash withdrawals from ATMs (which lost 6 points in one year); and 3.5% came from cash withdrawals from stores.

‘Now 12’ is still among the favorites, but is losing ground

In the first quarter of 2022, the the volume of transactions with credit cards reached 49.4% and fell from the 51.3% it had represented at the same time last year. The number of transactions, meanwhile, was up just 1.5% year-over-year.

Participation in the plan
The share of the “Now 6” plan in total volume recorded a strong year-on-year increase. (Photo: Prism Index).

The bone Plans “now” hold a significant share of credit card purchase volume and have reached 24.6% of total (one point more than in the same period of 2021). For their part, the consumption in one payment explained 56.8% volume recorded in the first quarter of this year and fell by just over two points compared to the previous year.

Among “Now” plans, which offer subsidized rates, data shows that customers prefer 12 payment, which accounted for 43.3% of the volume of transactions carried out under these programs between January and March. Behind were “Now 6” and “Now 3”, with 25.54% and 19.72% respectively.

In a summer without restrictions and with the boost of Previaje, tourist spending has increased

Yes OK “Now 12” goes on to explain the higher sales volume, their participation decreased by 4 points compared to last year’s data. On the other hand, the 3 installment plan gains 3.5 points over the same period and “Now 6” posted growth of almost 8 percentage points. The movement is explained by the successive adaptations of the elements included in each of the payment schemes.

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