Nine out of ten Argentines already use some electronic money system: credit or debit cards, virtual wallets or bank transfers. What was a growing trend has now become reality. Money is transferred from any device, you pay taxes, purchase products or top up transport cards.
The recent annual study by the Argentine Chamber of Electronic Commerce revealed the behavior of companies and consumers in the digital channel during 2023. According to CACE, 16% more units were sold in 2023 compared to the previous year. These are numbers that grow year after year.
Today, new challenges arise, such as crediting of salaries or social plans in electronic walletsthe impact of the DNU regulatory changes inaugurated by the new government, or the security in the use of electronic money.
These topics will be discussed “The new challenges of electronic money” the first meeting of the cycle The world to come From Clarion. The expert group consisted of Vittoria MinassianDirector of Product Development at Orange; Emiliano PorcianiCommercial director at payment; Fernando Blanco Muino, Undersecretary of Consumer Defense and Commercial Loyalty; AND Cristiano BalattiProduct Director at Personal payment.
This speech is the first of the annual cycle “The World to Come”, ten meetings between business managers, officials, social leaders, entrepreneurs and experts, led by journalists from Clarion on the challenges that companies face in the country.
The cycle has the main support of Telecommunications and DESA, In addition to the sponsorship of Afarte and support from Payway, Fiserv and Naranja
91% of Argentines consume at least some a non-cash means of payment (debit card, credit card or virtual wallet) at all sociodemographic levelsaccording to the results of a study carried out by the consultancy firm Kantar. The report shows that the percentage of digital wallet users rises to 76% in the 25-34 age group, and is also higher in the medium-high levels.
People’s perceptions of the use of electronic money were also measured. It is highlighted that the 65 year segment and others rate cards highly for their convenience (90%) and security (83%), while younger users (aged 18 to 34) rate virtual wallets as more practical (82%).
Electronic payment methods continue to grow strongly because They are comfortable and reliable for people. The Central Bank highlighted the state of progress of digital payments in its note report on payment methods corresponding to 2023, where it said immediate transfers doubled in number of transactions (121.6% year-on-year) and amounts increased by 41.9% year-on-year in real terms.
Also, payments with transfers via interoperable QR code. In a year-over-year comparison, increases in QR usage were 328% in number of transactions and 326% in actual amounts.
According to the last one National Observatory of Banks and Fintech conducted by consultancy Taquion, 65.5% of users who do not have a bank account use an e-wallet application. While 85.2% of users who have a bank account also use an app to set aside their savings and make purchases.
“The new challenges of electronic money” will be broadcast this Thursday at 7pm in streaming on www.clarin.com. The contents will be shared simultaneously on social networks and subsequently on the website and in the paper edition of the newspaper.
These topics will be discussed by the speakers convened by Clarín:
Vittoria Minassian. Director of Product Development at Naranja X. He has a bachelor’s degree in Foreign Trade (UCES) with a master’s degree in ITBA. He has been working in the fintech, payments and cryptocurrencies sector for 18 years. Currently at Naranja X he leads an interdisciplinary team that creates innovative financial solutions with a focus on accounts and investments.
Emiliano Porciani. Commercial Director at Payway. He is an administrator (UBA) with postgraduate qualifications in IAE and UdeSA. He has 20 years of business management experience in service, telecommunications and banking companies. He worked in Galicia and staff. He has extensive knowledge of digital transformation and electronic and digital payment methods.
Fernando Blanco Muino. Undersecretary for Consumer Defense and Commercial Loyalty: he is a lawyer (UBA) and university professor and graduate. He was National Director of Consumer Defense and representative of Argentina at Mercosur, OAS, OECD, G20 and UNCTAD. He was also executive director of the Center for Consumer Law Studies (CECON).
Cristiano Balatti. Product Director at Personal Pay: is an administrator (UCA) with a postgraduate diploma (IAE). He has 22 years of experience in the financial services industry. He has worked at Citi, HSBC, Google and MetLife. Develop digital transformation strategies in business.
Source: Clarin
