40% of Argentines regularly pay with QR

Fintech Money elaborates on how the ease of cashless payments and the growth of digital payments are some of the factors driving this trend

Meaning of digital payment They have established themselves as a new consumption habit among Argentine citizens since the pandemic.

In this sense, and after the implementation of Transferencia 3.0, the interoperability system launched by the Central Bank of India (BCRA) in November 2021, virtual wallets become an excellent alternative to making payments via QR or electronic transfer.

Now a new report has revealed how QR usage increased among users in Argentina And why do they choose this method of purchase.

40% of Argentines regularly pay with QR

moniThe innovative digital financial services company that operates in Argentina through its virtual wallet presented the results of its latest survey conducted during the month of March. 2,450 customers who used the services of its platform in the last 12 months,

The survey revealed that 73% of those surveyed made at least one purchase or payment using a QR code during the past year and, within this group, 40% regularly pay with a QR code. Of those who indicated they had never paid with a QR, only 27% of those surveyed did.

By way of comparison, a similar survey was conducted by MONI In June 2019 that time showed that only 35% of Argentines used to pay with QRAbout half of the system’s user base.

40% of Argentines disclosed

According to a survey by Fintech Moni, 40% of Argentines revealed that they regularly use QR code payments

Deepening the analysis among those who indicated they were users of this payment method Highlighted 40% of Argentines regularly using QR code payments51% reported using this payment method from time to time and Only 9% commented that they paid only once with the QR code,

Regarding these results, Juan Pablo Bruzo, CEO of Moni, He added: “The pandemic has created a landscape of unique circumstances for thousands of people to turn to the use of electronic means of payment.”

“By prioritizing user experience with simple, intuitive and frictionless functionality, we will be able to achieve the same level of adoption and frequency of use as digital payments platform PIX in Brazil,” he added.

And he added: “For this it is vital that the promise of interoperability is fulfilled in a complete and transparent way, so that users can pay with their favorite wallet in any store with QR, without other conditions and without the fine print.” can do. “.

Other data analyzed showed that 27% of respondents have never paid with a QR, 58% indicated that they have not yet paid with QR because the opportunity was not presented to them, 23% said they didn’t know how to do it and 19% commented that they did not pay with QR because it did not seem a practical option,

Paying with QR: how its acceptance grew in Argentina

BCRA data showed Electronic payment methods are being adopted more and more with the use of QR codes among users of financial services.

Thus, the number of transactions done through this system has increased 5 times in the last year and today 1 out of every 4 transfer payments starts with a QR code.


64% of those surveyed reaffirm that paying with QR is simpler and faster than paying with debit

Correspondingly, the 86% of people consulted by MONI said they were aware that all businesses’ QR codes can be used to pay with any home banking application or virtual wallet.Whether the QR is from any entity that demonstrated existing knowledge about the implementation of interoperable qr,

survey of moni Argentina’s assessment of this is also engrossing Payment System with QR in respect of Debit Card Payment,

based on this, 64% of Argentines confirm that paying with QR is easier and faster than debit payments, 34% found the two options equally simple and fast and finally, only 2% commented that paying with QR is slower and more complicated than traditional paying with a debit card.

“We must continue to bet on communication efforts throughout the ecosystem, especially at points of sale, so that users know that the QRs that are in stores today are normal, whether they are light blue, yellow, fuchsia or if They have the logo of a particular company on them, so they can be scanned and used from any wallet or banking application,” Bruzzo said.

“A good step in this direction would be to reach an agreement among all the actors to promote a Unique visual recognition for QR recognition at the point of sale“, He added.

Fintech: What services does MONI Virtual Wallet provide?

moni More than two million transactions have happened recently with consumer loans amounting to more than Rs. US$ 300 million,

MONI's Virtual Wallet Offer

MONI’s virtual wallet offers credit and money advances, payment with interoperable QR, MasterCard cards, payment of services and SUBE and cell phone recharge.

Now, the fintech is looking to expand its offering of digital financial services, primarily to the underbanked segment. The company provides the following services:

  • loan and money advance
  • Pay with interoperable QR (own balance or funded)
  • International MasterCard Card
  • services pay
  • SUBE and cell phone recharge

In this line, it intends to include new services during this year. Improve Your Customer Experience,