A new report from the Central Bank highlights a dramatic shift toward digital payments, Listin Diario reports. Bank transfers lead the charges, but credit, debit, prepaid cards and government subsidy cards are also growing.
Data from the first seven months of 2025 shows a total of 692.5 million transactions, valued at over RD$12.36 trillion, flowing through the country’s payment system.
Cards –credit, debit, prepaid and subsidy– accounted for the lion’s share of transactions. With 452.1 million transactions, cards represented 65.3% of the total volume.
While cards dominate in transaction volume, electronic fund transfers are moving the most money. These transfers, which include direct debits, credits, and instant payments, recorded 223.8 million transactions — 32.3% of the total volume. Yet, they represented a staggering 78.2% of the system’s value, moving over RD$9.67 trillion.
Instant payments, a more recent innovation, have seen explosive growth. Since their introduction in 2014 with just over 13,000 transactions, they have surged to nearly 24 million operations by July 2025, moving RD$2.93 trillion. This includes transactions in both Dominican pesos and US dollars.
Meanwhile, checks are becoming a relic of the past. Their use has plummeted, falling from 18.7% of transaction volume in 2014 to a mere 1.5% by July 2025. Checks now account for only 12.3% of the total value of payments.
The use of government-issued subsidy cards has also been on a steady upward trajectory. From 25.7 million transactions in 2014, their volume soared to over 40.5 million transactions in 2024, with a value of RD$41.58 billion. In contrast, the use of general prepaid cards has declined since 2014.
The report also noted the growing popularity of digital wallets, with 1.65 million cards — including debit, credit, and prepaid — now registered. This ongoing evolution of the Dominican financial system reflects a global trend toward a more secure, efficient, and interconnected payment landscape.
The Covid-19 pandemic in 2020 became the biggest boost to the cashless society. Thousands would open bank accounts and thousands others learned to bank online.
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Listin Diario
8 September 2025