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Payment in Argentina Emerging Consumption Needs Analysis

Impact of Behavior Changes

The Argentinian payment industry is currently undergoing a significant transformation driven by evolving consumer and business behaviors. A major shift is the accelerating move away from cash towards electronic and digital payment methods. This is evidenced by the exponential growth in immediate transfers and QR code payments in 2024, with increases of 47% and 212% year-on-year respectively. [5, Value Chain Analysis] Debit card usage and prepaid card volumes also saw substantial growth. [Value Chain Analysis] This strong preference for digital transactions is partly fueled by regulatory initiatives promoting interoperability, such as Transferencias 3.0. [Value Chain Analysis]

The continued expansion of e-commerce, reaching USD 26.7 billion in 2023, is closely linked to these behavioral changes. [6, Value Chain Analysis] Digital wallets have become a dominant payment method in online purchases, accounting for 46% in 2024. This increasing comfort with online transactions by consumers directly increases the demand for robust e-commerce payment solutions from businesses.

The widespread adoption of digital wallets and virtual accounts (CVU), leading to nearly 200 million combined CBU and CVU accounts by 2024, signifies a fundamental change in how individuals manage their finances. [5, Value Chain Analysis] Digital wallets are also gaining traction for in-store payments, representing 18% of POS transactions in 2024. [5, 8, Value Chain Analysis] This behavioral shift drives the need for seamless wallet integration at the point of sale and influences the relationships between wallet providers, acquirers, and merchants. [Value Chain Analysis]

Argentina's high inflation environment also plays a crucial role, leading to increased reliance on installment payments and the adoption of Buy Now, Pay Later (BNPL) options as consumers seek to manage their purchasing power. This impacts the business models of issuers and acquirers and boosts the demand for flexible financing options within the payment process. [Value Chain Analysis]

In response to these changing consumer habits, businesses, particularly merchants, are increasingly adopting digital payment acceptance methods, including POS terminals, online payment gateways, and QR code acceptance. [5, Value Chain Analysis] This growing demand from merchants for efficient, cost-effective, and versatile payment acceptance solutions is intensifying competition among acquirers and PSPs. [Value Chain Analysis]

These behavioral changes collectively indicate 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.

Detailed report on emerging consumption needs.

The observed behavioral changes in the Argentinian payment landscape are giving rise to several key emerging consumption needs:

  • Need for Ubiquitous and Seamless Digital Payment Options: As consumers increasingly prefer digital payments, there is a growing need for the availability of these options across all retail environments, both online and in physical stores. This includes seamless integration of digital wallets, QR code payments, and contactless options, reducing friction in the transaction process.
  • Demand for Integrated Financial Management Tools: With the proliferation of digital wallets and various accounts (CBU/CVU), consumers need tools that allow them to manage their finances holistically. This includes features for budgeting, tracking spending across different accounts and payment methods, and easy transfers between their own accounts or to others.
  • Increased Desire for Flexible Payment and Financing Options: The high inflation environment in Argentina has heightened the need for flexible payment solutions that help consumers manage their cash flow and preserve purchasing power. This translates into a growing demand for installment payment options and the wider availability and accessibility of Buy Now, Pay Later (BNPL) services at the point of sale and online.
  • Expectation of Enhanced Security and Trust in Digital Transactions: As digital payment adoption grows, so does the awareness of potential security risks and fraud. Consumers have an increasing need for reassurance regarding the security of their digital transactions and personal data, driving the demand for robust fraud prevention measures and secure platforms.
  • Requirement for Greater Interoperability and Connectivity: While progress has been made with initiatives like Transferencias 3.0, there is an emerging need for even greater interoperability between different payment schemes, digital wallets, and financial institutions. Consumers want the flexibility to use their preferred payment method regardless of the merchant's provider, and businesses need simplified acceptance solutions.
  • Demand for Digital Payment Solutions in Previously Cash-Dominant Sectors: The push towards digitalization is creating a need for digital payment options in sectors that have historically relied heavily on cash, such as smaller merchants, informal economy participants, and potentially even certain B2B transactions. These users require simple, low-cost, and accessible digital payment tools.

Table of potential impact of these needs.

Emerging Consumption Need Potential Impact on Value Chain Step
Ubiquitous and Seamless Digital Payment Options Payment Initiation & Authorization: Drives innovation in POS terminals, mobile payment interfaces, and online gateways to support diverse digital methods. Increases demand for biometric and frictionless authentication.
Acceptance & Merchant Services: Requires wider deployment of digital acceptance infrastructure (QR codes, Tap-to-Phone) and integrated solutions for merchants across all sectors.
Integrated Financial Management Tools Account & Instrument Provision: Increases demand for feature-rich digital banking and wallet applications with aggregation and money management capabilities.
Technology & Infrastructure Provision: Drives development of APIs and platforms for Open Banking-like functionalities to enable data sharing and integrated services.
Flexible Payment and Financing Options (BNPL, Installments) Issuer: Requires development and offering of flexible credit and installment products integrated into digital payment flows.
Acquirer/PSP: Needs to integrate BNPL and installment options into their merchant acceptance solutions.
Scheme Management: May need to evolve rules to facilitate integrated financing options.
Enhanced Security and Trust in Digital Transactions Transaction Processing: Increases demand for advanced fraud detection and prevention tools, AI/ML-based risk scoring, and tokenization services.
Technology & Infrastructure Provision: Requires continuous investment in cybersecurity infrastructure and data protection solutions.
Regulation & Oversight: Drives focus on consumer protection regulations and standards for secure digital transactions.
Greater Interoperability and Connectivity Scheme Management & Network Operation: Accelerates efforts towards creating unified and interoperable payment networks (e.g., extending Transferencias 3.0 capabilities).
Technology & Infrastructure Provision: Requires development of flexible and interconnected technology platforms.
Clearing & Settlement: May necessitate adjustments to clearing and settlement processes to handle increased volume and diversity of interoperable transactions.
Digital Payment Solutions in Previously Cash-Dominant Sectors Account & Instrument Provision: Drives efforts towards greater financial inclusion by offering accessible digital accounts and wallets to underserved populations.
Acceptance & Merchant Services: Creates a need for low-cost, easy-to-use digital acceptance tools specifically designed for micro and small merchants.
Regulation & Oversight: May require tailored regulatory approaches to encourage formalization and digital adoption in the informal sector.

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/
  • GlobeNewswire. Argentina Buy Now Pay Later Market Report 2025: 23.5% CAGR. https://www.globenewswire.com/news-release/2025/02/18/3971542/0/en/Argentina-Buy-Now-Pay-Later-Market-Report-2025-23-5-CAGR.html
  • PYMNTS.com. Cashless Wave Sweeps Latin America Amid Mobile, FinTech Boom | PYMNTS.com. https://www.pymnts.com/digital-payments/2025/cashless-wave-sweeps-latin-america-amid-mobile-fintech-boom/
  • GSMA. Digitising payments in agricultural value chains: The revenue opportunity to 2025. https://www.gsma.com/mobilefordevelopment/wp-content/uploads/2020/01/Digitising-payments-in-agricultural-value-chains.pdf
  • PwC. Payments 2025 and beyond: Evolution to revolution. https://www.pwc.com/sg/en/publications/assets/pwc-payments-2025-and-beyond-evolution-to-revolution.pdf
  • ITC. Driving economic growth in Argentina through digital transformation | ITC. https://www.intracen.org/news-and-events/news/Driving-economic-growth-in-Argentina-through-digital-transformation/
  • Value Chain Analysis