The number of cards with a debit function in Argentina stood at 54.81 million units in 2023. The series has shown a fluctuating trend over the past decade. Notable increases occurred between 2013 and 2019, with annual variations peaking at 21.56% in 2014. However, there was a significant decline of -14.39% in 2020, likely due to the pandemic's economic impact. Growth resumed sharply in 2021 with a 30.28% increase, but the pace slowed in subsequent years. The Compound Annual Growth Rate (CAGR) over the last five years was 2.66%. Looking ahead, a projected CAGR of 2.01% from 2024 to 2028 indicates moderate growth, culminating in 62.51 million units by 2028.
Future trends to watch for:
- Increased adoption of digital payment methods
- Potential market saturation
- Economic stability impacting consumer confidence
- Regulatory changes in the banking sector
- Technological advancements in fintech innovations