Mobile payments are thriving in Argentina, leaving behind other traditional payment methods, including credit and debit cards. According to the central bank’s monthly report on retail payments, this kind of payment has thrived, representing 60% of the payments operations made, while plastic-based payment media has stagnated, registering a fall in use.
Mobile Payments Keep Growing in Argentina
Electronic contactless payments have been thriving in several countries of Latam, given the penetration of mobile cell phones in the area. The latest monthly report on retail payments issued by the Central Bank of Argentina has found that mobile payments are thriving in the country, leaving behind legacy payment media.
According to the report, mobile devices are being more greatly leveraged to make payments due to the rise of banking apps and mobile wallets. Just in October, 162 million of these transactions were made, registering an increase of 7.1% when compared to the transactions made during
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