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Argentina cash usage drops by half as digital payments rise
Cash usage in Argentina has experienced a significant decline, with ATM withdrawals falling by more than 50% over the last two years. According to Central Bank data, monthly operations dropped from 99 million in July 2024 to 46 million two years later. This trend is driven by a shift in consumer habits, particularly among younger populations, toward digital alternatives such as bank transfers, QR code payments, and debit cards.
ATM usage saw a sharp decrease, falling from approximately 90 million monthly withdrawals to just over 40 million. While the introduction of a $20,000 banknote in November 2024 aimed to reduce withdrawal frequency, its impact was limited by high inflation, which quickly eroded the denomination's purchasing power.
Data from INDEC also highlights this transition in retail; cash accounted for 32.5% of supermarket purchases in early 2021, but this figure fell to 16.6% by June 2026. Conversely, QR code payments grew from 5.3% to 15.6% in the same period.
Entities
Argentina · Bizum · Central Bank of Argentina · INDEC · Mercadona · Soria · Spain
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Mercadona is testing Bizum Pay in selected stores, such as those in Soria. www.merca2.es
- [○ 1 SOURCE] Bizum has over 32.5 million users. www.actualidadecommerce.com
- [● 2 SOURCES] Bizum Pay allows for mobile payments in physical stores using bank accounts. www.actualidadecommerce.com · www.merca2.es
- [○ 1 SOURCE] Bizum processes approximately 3.5 million operations daily. www.actualidadecommerce.com
- [○ 1 SOURCE] The pilot aims to measure checkout speed and fluidity. www.merca2.es
- [○ 1 SOURCE] The service availability depends on the client's bank and the merchant's system. www.actualidadecommerce.com