Payment in Argentina Current Behavior Changes Analysis¶
Ongoing Behavior Changes¶
The Argentinian payment industry is experiencing significant ongoing behavior changes among both individual consumers (B2C) and businesses (B2B), fundamentally altering relationships and demand within the value chain. A primary shift is the accelerated move away from cash towards electronic and digital payment methods. Immediate transfers and QR code payments have seen exponential growth in volume, with immediate transfers increasing by 47% year-on-year and QR code transfers surging by 212% in 2024. [Source: Value Chain Analysis], [Source: Infobae. Fuerte cambio en los medios de pago: las transferencias inmediatas...] Debit card usage also saw a 23% year-on-year volume growth, and prepaid card volumes increased by 39%. [Source: Value Chain Analysis] This indicates a strong and growing consumer preference for digital transaction methods, driven in part by regulatory initiatives like Transferencias 3.0 which promotes interoperability. [Source: Value Chain Analysis]
Concurrently, e-commerce continues its expansion, reaching a market size of USD 26.7 billion in 2023. [Source: Americas Market Intelligence. E-commerce en Argentina: estadísticas y datos 2023] This growth is intrinsically linked to the shift in consumer payment behavior, as digital wallets accounted for 46% of online purchases in 2024. [Source: Final Customers Identification] The increasing comfort and preference for online transactions by B2C customers directly impact the demand for robust e-commerce payment gateways and integrated solutions from businesses.
The widespread adoption of digital wallets and the proliferation of virtual accounts (CVU), resulting in nearly 200 million combined CBU and CVU accounts by 2024, highlight a significant change in how individuals access and manage their finances. [Source: Economía Solidaria. Argentina aumentó a casi 200 millones de cuentas CBU+CVU en 2024] Digital wallets are not only dominant in e-commerce but are also gaining traction for in-store payments, representing 18% of POS payments in 2024. [Source: Value Chain Analysis], [Source: Infobae. La Argentina es el país de América Latina donde más se usan las billeteras digitales...] This behavioral change increases the demand for seamless wallet integration at the point of sale and influences the relationships between wallet providers, acquirers, and merchants.
Argentina's high inflation environment also shapes consumer payment behavior, increasing the reliance on installment payments and the adoption of Buy Now, Pay Later (BNPL) options to manage purchasing power. [Source: Final Customers Identification] This impacts the business models of issuers and acquirers and drives demand for flexible financing solutions within the payment process.
In response to these changing consumer habits, B2B customers, particularly merchants, are increasingly adopting digital payment acceptance methods. This includes implementing POS terminals, integrating online payment gateways, and enabling QR code acceptance. [Source: Final Customers Identification] The demand from merchants for efficient, cost-effective, and versatile payment acceptance solutions is growing, influencing their relationships with acquirers and PSPs and driving competition in the acceptance segment.
These behavioral changes collectively demonstrate a strong momentum towards digitalization in the Argentinian payment landscape, moving beyond initial adoption to more frequent and diverse usage of electronic payment instruments by both individuals and businesses.
| Value Chain Step | Impact of Behavior Changes |
|---|---|
| Payment Initiation & Authorization | Increased volume of digital wallet/QR code initiated transactions. Growing demand for seamless mobile and online payment experiences. Increased focus on secure CNP transactions due to e-commerce growth. |
| Transaction Processing | Higher transaction volumes requiring scalable and efficient processing infrastructure. Increased need for real-time processing capabilities for instant transfers. Demand for enhanced fraud screening for digital channels. |
| Clearing | Higher volume of immediate transfers necessitates robust and efficient near-real-time clearing systems. Increased complexity in reconciliation due to diverse payment methods. |
| Settlement | Increased volume and speed of digital transactions require efficient liquidity management within the settlement system (MEP). |
| Scheme Management & Network Operation | Growing importance of transfer scheme administrators (Transferencias 3.0 Hub) alongside traditional card networks. Demand for enhanced interoperability rules across different schemes (cards, QR, A2A). |
| Account & Instrument Provision | Significant growth in the number of digital wallet/virtual accounts (CVU) alongside traditional bank accounts (CBU). Increased demand for user-friendly digital account management features. |
| Acceptance & Merchant Services | Surging demand for digital payment acceptance solutions (QR codes, online gateways, softPOS) from merchants. Increased competition among acquirers and PSPs to offer integrated and cost-effective services. Changes in revenue models for acquirers/PSPs influenced by the mix of payment methods (lower fees for A2A/QR). |
| Regulation & Oversight | Need for regulations that support innovation and interoperability while addressing new risks (e.g., fraud in digital channels). Ongoing adjustments to rules to keep pace with technological and behavioral changes. |
| Technology & Infrastructure Provision | Increased demand for technology solutions supporting digital wallets, QR codes, instant payments, and enhanced security. Need for expanded and reliable network connectivity to support digital adoption across all regions. |
References¶
- Americas Market Intelligence. E-commerce en Argentina: estadísticas y datos 2023. https://americasmi.com/es/blog/e-commerce-argentina-estadisticas/
- Economía Solidaria. Argentina aumentó a casi 200 millones de cuentas CBU+CVU en 2024. https://www.economiasolidaria.com.ar/noticias/economia-solidaria/argentina-aumento-a-casi-200-millones-de-cuentas-cbu-cvu-en-2024
- Infobae. Fuerte cambio en los medios de pago: las transferencias inmediatas de dinero aumentaron casi 50% en 2024. https://www.infobae.com/economia/2024/12/19/fuerte-cambio-en-los-medios-de-pago-las-transferencias-inmediatas-de-dinero-aumentaron-casi-50-en-2024/
- Infobae. La Argentina es el país de América Latina donde más se usan las billeteras digitales para pagar en los comercios. https://www.infobae.com/tecno/2024/12/04/la-argentina-es-el-pais-de-america-latina-donde-mas-se-usan-las-billeteras-digitales-para-pagar-en-los-comercios/
- Value Chain Analysis