In the Good End, 67% of sales were made with bank cards

During the last Buen Fin –carried out between November 18 and 21–, 67% of sales were made with bank cards.

The Association of Banks of Mexico (ABM) explained that this represented a growth (greater use) of eight percentage points compared to 2019.

The bankers’ top organization specified that in those days a total amount of 134.400 million pesos in financing was registered, the main sources being credit cards with 35.3%, and debit cards with 31.9 percent.

Meanwhile, with bills and coins 24.3% of purchases were made; 8.3% with departmental card and 0.1% with Fonacot credit.

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In this way, the use of credit cards as a proportion of total sales in the Good End, was 35% when in 2019 it was 31%; while with debit cards it was 32% against 28 percent.

According to information from the ABM, the number of operations carried out with bank cards during said campaign this year reached 105 million, an increase of 43% compared to 73.4 million in 2019.

Of the total operations, 71.2 million were with debit cards (39% more than in 2019), while 33.8 million with credit cards (an increase of 53 percent).

Regarding the amount invoiced with cards during the Good End, it reached 90.3 billion pesos, an increase of 9.9% compared to 2019. Of this total, 47.4 billion were with credit card (11.1%) and 42.9 billion with debit ( 8.7 percent).

In the Good End 2022, the total amount of billing with cards reached more than 90,000 million pesos, with almost 105 million operations, good progress against the pre-pandemic, when the duration of the Good End was the same as this year (four days) ”, highlighted the ABM.

Benefits

The organization highlighted some benefits that the use of cards and other digital means of payment implies in campaigns such as the Good End and the Christmas season.

For the economy, he mentioned, for example, that the risk in society is reduced due to less use of cash; In addition to contributing to the formality and growth of businesses.

Regarding businesses, he said that some benefits are: higher sales, quality customer service, more security for the business and being at the forefront of payment methods.

For the cardholder, he highlighted that he can carry out operations with the “buy today, pay later” modality; avoid the use of ATMs and cash; access discounts, promotions and reward programs, and apply the programming or direct debit of payments.

“As an additional benefit for cardholders, on Friday, December 9, the Good End raffle was held, for which the SAT confirmed a total bag of 500 million pesos, distributed among customers and businesses,” the ABM pointed out.

eduardo.juarez@eleconomista.mx