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As is happening around the rest of the world, plastic is gaining as the preferred media of payment in the Dominican Republic.
A report in El Dia states that the preference for cash payments in the Dominican Republic has declined by 9.5% in the last four years, dropping from 65.5% in 2019 to 55.9% in 2023. This shift indicates a growing trend towards digital and modern payment methods.
According to the 2024 National Survey of Financial Inclusion and Education (ENIEF) report, the country is experiencing significant changes in the population’s payment habits.
“This transition aligns our payment practices with international standards and reflects our progress towards a less cash-dependent economy,” the report states.
The report also highlights that between 2019 and 2023, the number of individuals with at least one savings, checking, payroll, or time...
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