The number of people paying their bills in digital channels has increased by 21.6% | Cuyo Newspaper

According to the increase in the availability of channels and access to e-money, in the last 18 months, Argentines have used them 21% more. The data comes from a report from Red Link, which yesterday introduced the first edition of the Electronic Money Usage Index, UDE Link.

According to the company, this study will be presented monthly to quantify the use of digital payment channels. "Given that the data refer to the operations of 28 million Argentines from all regions, age groups and socio-economic level, we are confident that it will be transformed into useful information to correlate. other market variables, "said Jorge Larravide. Link.

The series that measures the UDE starts in December 2016 and arrives until last June. "Faced with an increase in total private deposits in current accounts and savings accounts across the economy, this comes from the money available for transactions, from 2, 3% in seasonally adjusted values ​​and adjusted for inflation over the last 18 months, the use of electronic money has increased, measured in the same way, 21.6%, while the l & # 39; 39; use of electronic channels increased by 3.5%, "they detailed.

The Central Bank is strongly committed during this period to promoting the use of digital payment channels to discourage the use of cash and increase levels of financial inclusion. The truth is that just over two-thirds of the use of e-money is explained by immediate transfers between bank accounts to make regular payments in the home economy: expenses, private tuition, private medicine.

The punishment was huge. But there are several sources of uncertainty that can hit them even more, from exchange rate balances and precarious fiscal targets until the 2019 elections. The rest of the e-money transactions are distributed, mostly from 16% for the payment of taxes and services such as electricity, gas, water, telephony, Internet, among others, and 14% in purchases with debit cards.

While the use of these immediate transfers has increased 47% over the past 18 months, debit card purchases have decreased by almost 8%. This is not a coincidence: in January 2017, the government eliminated the 5% VAT reduction on purchases made with these plastics, a measure that since 2001 has been the key to promoting this type of payment. .

Electronic money was used in 27% to pay taxes and services and 35% to recharge the balance of the SUBE card.

In June alone, more than 348 transactions were made via these channels. Most were made by Homebanking. which captured 46.2% of the transactions. ATMs took second place as payment channels, at 31.1% and were followed by bank applications in mobile phones, which accounted for 22.7% of the movements.

Being able to pay from the cell phone is a novelty in the local financial system. In the period that measures the study several digital portfolios burst on the scene. Although its use is still nascent, they have grown exponentially: more than 400% in a year and a half.

Source: El Cronista