The Argentine payment system is constantly growing, especially after the pandemic. In his opinion COELSA indicatora report prepared by the payments ecosystem administrator with the industry numbers between January and June of this year, in Argentina there are 147 million accounts, of which 117.7 million correspond to CBU (Uniform Bank Key) and 29.4 million to CVU (Uniform Virtual Key). Compared to last year, bank accounts grew by 9%., with the incorporation of 10 million accounts into the system. On the other hand, that of virtual wallets saw a 19% increase.with a gross of 5 million new accounts.
If we look at the pre-pandemic numbers, the growth is incessant: at the end of 2019, the country had 82.8 million CBU and 1.21 million CVU.
Current numbers reflect that 36 million Argentines, between individuals and legal entities, have CBUs and 19.2 million have CVUs. If we analyze it on average, An Argentinian has 3 CBU accounts and 1.5 CVU accounts.
Another interesting fact that emerges from this report is the evolution of e-cheq o electronic check, little used format before the pandemic.
During the first half of 2022, a total of 28.7 million checks were issued in our country, of which 71 percent presented in paper version and the remaining 29 in digital format (9 million). A year ago, that percentage was 83% v. 17%
The electronic control, in turn, has produced some interesting features: It is the one chosen for transactions of greater amounts than the paper one which is used for low volume amounts.; 52 percent of the money circulated by checks was made through the electronic version and ultimately showed a rejection rate of 0.91 percent versus 2.6 percent for the physical one. The great advantage of the e-cheq is its traceability.
As for digital transactionality, the first half of 2022 had 413 million instant transfersa 212% more compared to the same period of the previous year. Of these, 305 million were made from and/or to CVU, 100 million from Debin (immediate debit), 3,914 per cent more than in the first half of 2021, and 8 million with CBU, equal to 151 per cent in the same period of comparison.
Much of this growth is due to the launch of the Transfers 3.0, QR code payment interoperability mechanism. In this way, digital tools have become an interaction and participation tool for this booming payment ecosystem.
Source: Clarin
