Dominicans are every day buying more through local business online channels. Banks in the Dominican Republic say that credit and debit card purchases online have almost doubled this year. Purchases online in September 2023 alone went from RD$16.7 million to RD$33 million, according to the Association of Multiple Banks of the Dominican Republic (ABA).
ABA says the volume of transactions is evidence of the growing digitalization of the local commerce sector. It also reflects the difficulties in getting around in metropolitan areas due to intense traffic jams.
According to Central Bank statistics, online transactions are 31% more than last year.
Regarding the values traded, the ABA reported that there was also a significant increase in the online purchases made with cards, reaching RD$139.66 billion for this period, which meant an increase of RD$24.7 billion in absolute values and 21.5% in relative terms, compared to the same date last year.
According to a document prepared by the Technical Directorate of the ABA, the value of these transactions increased by RD$12.2 billion in local businesses, registering RD$55.9 billion at the end of the third quarter of 2023. ABA says that 52.5% of local online transactions used debit cards and 47.4% with credit cards.
Meanwhile, the amounts traded internationally increased by RD$12.5 billion, for a total of RD$83.7 billion, as of the same date. Likewise, for international transactions, 54.1% used debit cards, and 45.7% for credit cards.
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Listin Diario
18 December 2023