During the second year of implementation, this money transfer modality tripled. In the interannual comparison, 2022 ended with a total of 859,615 operations.
With those figures, the relative weight of these transfers in the Interbank Payment System rose to 2.9%according to data published by the Central Bank (BCU).
At present they are seven banks that offer the service: Banco República (BROU), Itaú, HSBC, Citi Bank, BBVA, Santander and Scotiabank.
90% of the volume operated under this modality was in local currency and with an average amount of $5,740. Operations in foreign currency were on average US$244.
Instant Transfer allows a person to instruct their financial institution online to send a specified amount of money to an account at another institution in real time.
In other words, the money is debited from the source account and credited to the destination account in a matter of seconds, once it is processed and confirmed by the receiving bank.
Card operations continue to grow
The operation with debit cards it had a total of 171 million operations in the second half of 2022, which represented a growth of 13% compared to the immediately preceding semester. The amount traded was $186,059 million (about US$4,643 million).
Source: BCU
Meanwhile, there were 41.5 million operations carried out with electronic money cards (mixed, general and food) which increased 20.6% in quantity during the second half of last year. The amount of the operations was $64,826 million (US$1,617 million).
Meanwhile, transactional volumes with Credit cards they were 122.3 million (+12.8% in the semester) and moved $165,095 million (about US$ 4,120 million).
Source: BCU
Seven out of ten pesos spent were with electronic payments
In terms of amounts operated, 70% of total payments in the economy were made through electronic means. In this way, the participation of these instruments increased 5 percentage points compared to the first semester of 2022, according to he IPET index (includes cards, transfers, mobile payments, among others).
The figures show that these means of payment that do not involve checks or cash are increasingly used. The participation of electronic media has grown uninterruptedly since 2015 when they represented just 11% of total payments.
Source: BCU
