Debit surpasses credit card in El Buen Fin

Faced with a greater offer of mainly digital products, the use of debit as a means of payment is growing in the country and in the 2023 edition of El Buen Fin it even surpassed credit cards, according to Prosa.

“There were growths close to 30% (in the case of debit) and in the case of credit of 20%. Taking stock, we see that the dynamics in the debit world were superior; Not every year is like this,” said the general director of Prosa, Salvador Espinosa.

In an interview with EL UNIVERSAL, the leading company in payment processing explained that the current dynamics presented by debit responds to a greater number of providers that have made it easier for more users to have a savings account.

“The number of digitalized people has increased. There are many solutions on the market that are not necessarily from banks, but do give customers the opportunity to have a savings solution, particularly on their phone. Instead of cash, people use money electronically,” she explained.

At the same time, he said, the expansion of payment methods in e-commerce and retail chains to accept more debit options has given consumers the opportunity to buy from the comfort of their home, without the need for a credit card.

“Before, e-commerce solutions were exclusively for credit cards, as were promotions. Today it has already been completely opened so that debit users can enjoy these promotions and it is a factor that has also influenced,” he explained.

In general terms, the Prosa manager explained that growth in payment methods, whether digital or with cards, reaches 20%, which, in addition to reflecting greater adoption, reflects the good dynamism of the Mexican economy during 2023 and that they can remain at the short term.

“The outlook for 2024 is very positive. We see a lot of new players. We are enabling new participants,” he said.