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Raising the rate for increasing the use of cards



credit and debit card transactions made in November increased by an average of 14% compared to the same month of 2017, with increase in billing in pesos over 40% on an annualized basis, according to the latest report prepared by Atacyc, a chamber that brings together the main issuers of the industry.

The data is surprising at first glance, since November was not an exception during the year from the point of view of a decline in consumption in the area of ​​collapse in a significant part of the year. Thus, in the penultimate month of the year consumption fell by 6% according to a report by consulting company Kantar Worldpanel who specializes in investigating consumer behavior.

latest official figures, corresponding to the month of October, were no better sales in supermarkets and stores for the year decreased by 10% and 18.6% respectively.

So what happened?


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The secret is revealed when the use of each type of card is disaggregated.Thus arises on the side of debit cards the highest traffic point in November was payment for services, with an increase of 47.9% in the number of transactions and 95.5% in volume in pesos. This increase is determined by the exponential increase in rates registered during the year, although in November it did not have a certain increase, it marks the period and explains the amount of money and transactions that are made under this item during the year. This is independent of changes in consumer behaviorwhich increasingly uses plastics and home banking for all types of operations.

In the case of using debit services, payment for services followed the purchase of airline tickets, increasing by 43.8% and 48.1% in terms of operations and billing, respectively. Subject where low cost and deregulation of the commercial marketWith stocks and aggressive tariff policies, they helped.

at credit card use has also confirmed the weight of rate increases, becauseItem "Payment for services" ranked second with growth of operations by 24.2% and turnover by 81.7%.

Recurrences of credit cards to pay for services are a fact that analysts warn as an indication of punishment, which meant for families to raise the rates of joint ventures a year that, in general, did not cover the deterioration produced by inflation.

As for credit cards, however, leadership was, however, on a cell phone number with an increase in transactions by 34.6% and an amount by 56.2% compared with the same month of the previous year.

Meanwhile, the goods that showed a decrease in the number of credit card transactions in November compared with the same month in 2017 were household goods: the total number of transactions decreased by 23.0%; followed by furniture and mattresses (-18.3%), as well as clothes and shoes (-11.1%).

In turn, items of debit cards that reduced the number of transactions were also clothes and shoes (-8.9%), furniture and mattresses (-8.6%), as well as household goods (-8.0%).


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