Banking Association reports upswing in use of bank cards

Dolores

Administrator
Staff member
Feb 20, 2019
9,786
1,329
93
Asociacion-de-Bancos-logo-e1609857383277.png




For the first eight months of the year, credit and debit bank card transactions have been of RD$283 billion. These are expected to amount to RD$423 billion by the end of 2021, according to the Dominican Banking Association (ABA). This is up from RD$222.6 billion in 2014, reflecting the steady preference of financial services users.



The volume of point-of-sale transactions is expected to reach 192.7 million transactions by year’s end.



The ABA indicates that 96% of the operations are local transactions and 4% for transactions abroad.



58% of the active bank cards are debit cards, 27.6% are credit cards and 12.1% are government-subsidized cards and 2.3% prepaid cards.



From 2014 to 2020, the number of active debit cards showed an upward trend, but during the first eight months of 2021, there was a 6.2% decline, with 317,884 less activated cards.



The performance...

Continue reading...
 
Last edited by a moderator: