Monthly Retail Payments Report, February 2024

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Summary:

The report provides insights into the payment market trends in February 2024. Key highlights include:

The increase in push transactions, which showed a growth rate of 121% on an interannual basis, with 389.5 million transactions worth $20.2 billion.
The growth of intra- PSPCP transactions, which reached 186.2 million transactions worth $1.8 billion.
The increase in pull transactions, which increased by 4.7% in quantity and 5.3% in value compared to the previous month.
The growth of QR interoperable payments, which accounted for 81.2% of all QR initiations, with 30.5 million transactions worth $274.6 billion.
The decrease in card payments, which declined by 97.3% in quantity and 97.9% in value due to the migration of merchants from PCT to debit cards.
The increase in accounts with payment balances, which reached 16.7 million with a total balance of $279.8 billion, representing 3.45% of the total sector's deposits.
The growth of direct debit transactions, which increased by 36.1% on an interannual basis, with 30.2 million transactions worth $1 billion.
The decline in credit card transactions, which decreased by 16.1% in quantity and 6.6% in value.
The growth of prepaid transportation cards, with 342.1 million transactions worth $22.4 billion, declining by 33.3% on an interannual basis.
The increase in electronic invoice transactions, with 143.3 million transactions worth $665.7 billion.
* The growth of ATM withdrawals, which totaled $1.8 billion, with an average withdrawal amount of $20.4 million.