The Now 12 plans continue their growth trend in credit card consumptionaccording to the measurement of the second quarter of 2022 carried out by Prisma Medios de Pago, which reveals the use made by Argentines of credit, debit and prepaid cards.
“The Now plans continue their growth trend in the share of credit card consumption, with Now 3 and Now 6 being the ones that have been increasing their share to a greater extent”pointed out Julián Ballarino, head of Institutional Relations at Prisma Medios de Pago.
Purchases with Now 12 represented 24.92% of credit card transactions in the second quarter of the yearaccording to the survey, with an upward trend when compared to the 24.60% reached in the first quarter of this year and the 22.24% in the second quarter of 2021.
In the analyzed period, 55.96% of credit card purchases were made in one paymentand 19.12% were with other installment plans.
Within the use of the program, the Now 3 and Now 6 plans continue to increase their share of the operated volume, with interannual growth of 40.48% and 35.66%, respectively.
The most used is the 12 installment plan (41.57%), followed by Now 6 (29.22%), Now 3 (21.64%), Now 18 (6.34%) and Now 24 (1, 2. 3%).
The use of Now 18 fell 53.77% year-on-year in the second quarter.
Regarding consumption by type of card, credit cards represented 53.51% of operations measured by Prisma in the second quarter, debit cards 45.39% and prepaid cards 1.10%.
Ballarino noted that “In the second quarter of 2022, the year-on-year growth in the number of transactions with credit and debit cards continues”and pointed out that “Credit grew 10% and debit 23%”.
“Debit card purchases remain above 50% of the general volume of this type of cards for the third consecutive quarter,” added the executive.
According to the Prisma Means of Payment Index, the items that grew the most year-on-year in card transactions were travel, tourism and airlines with 97%, restaurants with 63% and clothing with 54%.
