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There is a growing preference for electronic transactions.LD
Santo Domingo –
According to data from Visa Consulting & Analytics (VCA), transactions made with Visa credentials during Black Friday in the Dominican Republic registered sustained growth in online and in-store purchases, with an increase of more than 15% in total transactions compared to to the same period in 2023.
It is estimated that consumers in the Dominican Republic demonstrated great confidence and resilience during the start of this Christmas shopping season.
This growth was driven by a more than 55% increase in contactless payments, highlighting the growing popularity and effectiveness of consumers and businesses in ensuring fast, convenient and secure shopping in this digital age.
“The boo” on contactless transactions during this year's Byear'sriday in the Dominican Republic underlines the decisive change in consumer and business behavior, showing a clear preference for this innovative payment technology,” said J “vier Vázquez, leader of Visa Consulting & Analytics for Visa Latin America and the Caribbean.
He believes these results and the continued growth in Visa transactions during this critical shopping day demonstrate the ability of Dominican consumers to adapt to evolving macroeconomic conditions and their willingness to adopt new digital commerce norms.
VCA's anVCA study also found that online transactions during Friday this year in the Dominican Republic increased by more than 35% compared to 2023.
This performance demonstrates greater growth in this segment than in purchases in physical stores, which increased by 10%.
The increase in e-commerce spending reflects consumers' preference for shopping and buying, driven by better connectivity and mobile commerce options.
It also highlights the promising digital ecosystem that is being consolidated at the local level.
The VCA crash team analyzed data related to consumer transactions that occurred over VisaNet during Black Friday (November 24) 2023 versus Black Friday (November 29) 2024, excluding transactions and Expenses related to Visa Direct.
These growth percentages correspond to transactions in US dollars and local currency.
Countries surveyed included Brazil, Chile, Argentina, Peru, Mexico, Colombia, Guatemala, Costa Rica, Dominican Republic, Uruguay, Puerto Rico, Panama, Honduras, El Salvador, Ecuador, Paraguay, Jamaica, Bolivia, Nicaragua, Trinidad and Tobago, Bahamas and Barbados.
About Visa
Visa (NYSE: V) is a global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities in more than 200 countries and territories.
Its mission is to connect the world with the most innovative, convenient, reliable and secure payments network, helping people, businesses and economies prosper.