An investigative report in El Día reveals that already 60% of bank transactions in the Dominican Republic are carried out online. The report indicates that the prevalence of smart phones and the electronic payment facilities are catching on every day more among Dominicans. The Sistema de Pagos y Liquidaciones de Valores de la República Dominicana (Sipard) reports that on average every day RD$84 billion is transacted online, spiking during peak shopping days.
In June 2017, the Sipard registered on average RD$23,369 million in bankcard transactions and RD$161.9 million mobile phone payments. This is much more than the RD$14,328.6 million in paper check transactions.
There are several electronic payment systems in place, including Consorcio de Tarjetas Dominicanas (Cardnet), GCS Systems, LTD and Todo Pago Dominicana, among others.
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El Dia
7 July 2017
