Sunday , January 17 2021

Record of e-money: Every Argentine made an average of 8 operations per month last year

A key ally of the Federal Public Revenue Administration (AFIP) in a year that starts with a major negative leverage of the recession in 2018 is the growing use of e-money by business and families. It also contributes to the eradication of tax evasion maneuvers, especially in the retail sector, where the black economy is valued at over 1 in 3 deals.

According to the Red Link report, "2018 was written in electronic transactions ending the year by almost 405 million in December, 22% over the same period before, and 36% more than 297 million in December 2016". On average, over 12 months there were just over 345 million a month, about 8 per capita for 30 days.

The UDE LINK denominated channel is located in December 2018 at 95 points adjusted for inflation and seasonality, with 100 basis daily values ​​for each month of 2017, while the amount in pesos with the same base is 85 points, and in both the case is exceeded The index of total deposits of private persons of the type of banks in the economy (current and savings accounts) is 84.3 points.

He also showed the private report that "nominal records were observed in the total amount of transactionsto just over $ 302,103 million in December, 40.7 percent higher than a year earlier, with an average of $ 226 billion a year and a growth of 37.1 percent, 11 percent more than total money demand.

Such an impulse of the use of electronic money was synthesized within the historical maximum mark of 32.9% of the total private sector transaction money deposited in the financial system as a whole in December and an average for the year 29 t 2 percentage points.

The study concludes that "in an unfavorable scenario with a 5.1% decrease in the average balance of total household deposits, in the accumulated 2018 the use of electronic channels increased by 2.9% and the rate of use of electronic money" UDE LINK in pesos only declined by 1.1%, adjusted for inflation.

The White Simplicity in its use, such as the security that is a low-level circular sawIt is estimated that it will help maintain the growth of money moving through home banking, the e-portfolio and the ATM after the delivery of the debit card has spread to most employees, in general pensioners and retirees as well as recipients of social plans such as Universal Assistance for Children.

However, in an economy in recession, and where more and more common operations such as payroll taxes, insurance and telephone and internet services, among many others, are processed through automatic debit using credit cards, the balance of payment by electronic money, from the mobile phone, the computer or from the banking system of the banking system.

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