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Credit card use in Chile with the mandatory verification code known as Pinpass jumped in July to 78.2% of the total, or 7.29mn transactions with a volume of 269bn pesos (US$577mn), the latest figures from banking regulator SBIF show.
July figures for Pinpass purchases were up from the 76.7% recorded in June. The figure was also up from the year-ago period, which reached 61.1%.
July was also the third consecutive month in which Pinpass use was above the 76% mark. Last year, when the code was introduced and made mandatory for all credit card purchases in May, Pinpass purchases represented an average 58.4% of the total.