While purchases with credit cards “stagnated” in recent months, financing through the different alternatives offered by fintech continues to grow steadily. There are several factors that explain the fall in financing through banking “plastics”. It is that, to the lack of updating of the purchase limits in the midst of high inflation, the increase in the cost of refinancing credits (for those who do not cancel the summary or pay the minimum) was added as a result of the increase in the reference rate imposed by the BCRA.
Matías Friedberg, co-founder of Adelantos.com, highlights to iProUP that there is a “sustained demand with an upward trend. We understand that the reduction in real wages is one of the main causes.” When analyzing the profile of users who access credits through the platform, Friedberg said that from Adelantos.com focus on the public that cannot access financing in their bank.
“The subbanked segment corresponds to those people who have a bank account or card but cannot access all the services offered by the entity, so they cannot cover their needs. Three out of ten credit applications in Adelantos.com have an approved offer,” he says.
See full note here