Value of operations via mobile payments increased 86% in 5 years, says ABA

The Association of Multiple Banks of the Dominican Republic (ABA) reported that between 2017 and 2021 the value of operations carried out through mobile payments increased by RD$5,127 million.
That represents an increase of 86% during the cited period. The ABA explained that at the end of last year a total amount of 11,106 million pesos was registered through 10 million 708 thousand operations. In this sense, he indicated that the number of transactions grew 17% (1,564 thousand more transactions) compared to 2017.

During the year 2021, this service allowed users to be able to make fund transfers from their cell phones or mobile phones, for an amount of RD$8,491 million; payment of bills for different services, for RD$1,632 million; recharge of minutes, for RD$948 million; withdrawal of RD$35 million in cash and consumption, for a value of RD$741,870 at points of sale.

The Association of Multiple Banks of the Dominican Republic (ABA) reported that, at the end of last year, 1,032,125 users of multiple banks were affiliated with mobile payment services, representing a growth of 42.5% during the period, that is that is, 308,133 new users compared to 2017. The union highlighted the importance of this channel, as part of the digital tools that multiple banks have used in recent years.

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