{"id":230029,"date":"2025-01-23T08:00:00","date_gmt":"2025-01-23T12:00:00","guid":{"rendered":"https:\/\/dr1.com\/news\/?p=230029"},"modified":"2025-01-23T09:31:31","modified_gmt":"2025-01-23T13:31:31","slug":"bank-cards-dominate-dominican-spending","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2025\/01\/23\/bank-cards-dominate-dominican-spending\/","title":{"rendered":"Bank cards dominate Dominican spending"},"content":{"rendered":"\n
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The Dominican Association of Banks (ABA) says that Dominicans are increasingly relying on bank cards for their daily purchases. A recent analysis by the Association of Multiple Banks of the Dominican Republic (ABA) highlights that in 2024, nearly 88% of all card transactions were made at service establishments, supermarkets, and retail stores.<\/p>\n\n\n\n

The data, derived from the Central Bank’s Payment System, revealed a surge in card usage. Over 477.5 million transactions were carried out using 11 million cards issued by various banks.<\/p>\n\n\n\n

As of the end of 2024, 11,066,312 cards were in circulation, representing 86% of the total in the Dominican financial system. These cards included debit cards (59.9%), credit cards (32.1%), government subsidy cards (7.6%) and prepaid cards (0.4%).<\/p>\n\n\n\n

The total value of these transactions reached a staggering RD$1.19 trillion, highlighting the significant role credit cards play in the Dominican economy. The breakdown of spending by sector is as follows:
\u2022 Services: 45.7%
\u2022 Supermarkets: 23.3%
\u2022 Retail stores: 19.1%
\u2022 Fuel: 7.6%
\u2022 Airlines, wholesalers, and others: 4.3%<\/p>\n\n\n\n

ABA explains that in recent years, there has been a significant push towards contactless card payments. By 2024, 90% of all active cards in the Dominican Republic were equipped with contactless technology. This modernization, spearheaded by the Central Bank, is aimed at streamlining payments and enhancing security.<\/p>\n\n\n\n

Read more in Spanish:
ABA <\/a><\/p>\n\n\n\n

23 January 2025<\/p>\n","protected":false},"excerpt":{"rendered":"

The Dominican Association of Banks (ABA) says that Dominicans are increasingly relying on bank cards for their daily purchases. A recent analysis by the Association of Multiple Banks of the Dominican Republic (ABA) highlights that in 2024, nearly 88% of all card transactions were made at service establishments, supermarkets, and retail stores. The data, derived … <\/p>\n

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