The high inflation and the alternatives of consumers to protect part of their purchasing power generated in 2022 a recovery in the use of credit cardss. Meanwhile, the use of the credit card debit remained above 50% of total transactions made with these means of payment, a level reached during the pandemic, displacing the use of cash in the banked segment of the population.
Thus, transactions with credit grew 8% during 2002 with respect to the previous year, according to a survey carried out by Prisma Means of Payment. And purchases for Mother’s Day, the Qatar 2022 World Cup and Christmas and New Year’s Eve pushed plastics up as the medium of choice in the fourth quarter.
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The uses that were given to the cards during 2022
Between October and December 2022, the use of credit cards represented the 55.33% of the total purchases made with plastics. In the year-on-year comparison, they yielded an increase of 7.99%.
Meanwhile, purchases with Debit represented 43.14% of transactions for the period. And they had a rise of 3.74% in the interannual comparison.
The use of debit, that rose strongly during the pandemic, deepened during 2022: in the fourth quarter of 2022, it rose more than 3 percentage points, its use for general shopping (face-to-face or electronic commerce) against the same period of the previous year, upon reaching the 53,64% dand transactions.
Meanwhile, transactions made with debit for withdrawing money in stores represented 42.37% in the last stretch of the year, 4% more than the previous year, driven especially by convenience and the increase in the maximum amount per purchase, made in December.
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“In 2022 the trend of recomposition of the use of credit card and the growth of debit cards is sustained”, commented Julián Ballarino, Head of Institutional Relations at Prisma Means of Payment.
The items that increased the mostaccording to the index prepared by Prisma Means of Paymentin card transactions during 2022 were:
- Auto parts and motorcycles con 60%;
- restaurants with 44%,
- supermarkets with 36%,
- Education and healthwith 32%
- Pharmacy with 30%.
The plans Now in 2022: those with fewer fees, the most chosen
If one takes into account the financing, both Through the Ahora programs (3, 6, 12, 18, 24 and 30) as well as from each bank, it is evident that consumers preferred the plans with less fees.
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The plan now 3 was the option most used by consumers when paying with this program: it grew a 35,71% in the last four months of the year. Then he was followed by 6 installment plan with a 30,23%; and the plan now 12 with the 29,16%.