Credit card payments are the most common online payment method in Argentina, representing 76% or 8 out 10 of online sales transactions. According to The World Bank, 28.89% of Argentinians 15 years old and above own a credit card.
Cash is the second most popular payment method in Argentina, accounting for 11% of all transactions. Cash payments within Argentina are largely dominated by Rapipago and Pago Facil.
Digital wallets or E-wallets make up 4% of online transaction payments in the country. Argentina leads the rankings in Latin America for the use of digital wallets, with 66% of banked Argentinians using digital wallets as a form of payment. The most popular digital wallet in Argentina is Mercade Pago, with over 6 million users.
Cryptocurrency is proving to be a popular payment method in Argentina. It is estimated that over 2.5 million people, 5.6% of Argentina’s total population, currently own cryptocurrency.