Purchases with bank cards made over the Internet totaled RD$160,040 million during the year 2022, which meant an increase of RD$74,200 million in absolute value and 86.6% in relative terms in relation to the year 2020.
The information was offered by the Association of Multiple Banks of the Dominican Republic (ABA), which highlighted the notorious evolution in the volume and value of purchases made by users over the Internet using bank cards, a reality that has been possible within of a payment system environment in the Dominican Republic that progresses in a robust, safe and efficient way in the multiple bank system.
The ABA detailed that, at the local level, the value of purchases made through this channel increased by RD$33.2 billion, reaching RD$59.7 billion at the end of 2022. Meanwhile, for international operations, there was an increase of RD$41 thousand million in the last two years, reaching a total of RD$100.4 billion at the end of 2022, according to statistics from the Central Bank of the Dominican Republic.
Regarding the number of operations, the union explained that in 2022 users carried out 75.4 million Internet purchase operations both locally and internationally; that is, 32.7 million over the year 2020, which is equivalent to an increase of 76% in the aforementioned period.
He indicated that the volume of international purchases increased by 20.1 million between 2020 and 2022, to reach 52.5 million at the end of 2022. He pointed out that, in the case of local transactions, it increased by 12 million for said period, reaching 22.8 million at the end of the year 2022.
Use of card according to type of purchase
The Association of Banks observed that, in their online purchases, multiple banking users in the Dominican Republic tend to use debit cards more in international transactions and, instead, they prefer credit cards more for their local operations.
He explained that, by the end of 2022, 53.8% of local transactions corresponded to credit cards, 46.2% to debit cards and the remaining 0.04% to prepaid cards.
Regarding international transactions carried out in 2022, the majority of users chose to use their debit cards (57.5%), 42.2% credit cards and the remaining 0.2% prepaid ones, the ABA specified.
He estimates that, taking into account the promotion of the digital agenda of the country and of the banks, these operations will grow exponentially, generating efficiency for financial intermediation entities and users.