Central Bank of Chile publishes first Payment Behaviour Study showing debit cards lead while cash remains widely used

The Central Bank of Chile published the results of its first Payment Behaviour Study (ECP), combining an in-person survey of more than 2,700 people on payment method preferences (a condensed ENUPE) with a “Payments Diary” that recorded transactions by nearly 1,000 participants over three consecutive days. The approach is intended to provide an objective, time-comparable view of payment habits across different areas of the country; fieldwork ran from April to September 2024 and covered adults living in urban households nationwide. Across the diary period, participants logged 4,966 transactions, averaging 1.7 transactions per person per day with an average value of around CLP 32,000. Debit cards were the most used instrument, followed by cash, which was mainly used for low-value payments in open-air markets, public transport and small local shops. Cash remained widely carried, with 95% of participants holding notes and coins at the start of the diary and around 91% at the end, with average holdings of about CLP 28,000; 42% of participants received, withdrew or replenished cash during the three-day period. The ENUPE results indicate that preference for debit continues to grow, particularly in large stores and service stations, while cash remains preferred for open-air markets and transport and is more prevalent among lower-income segments, regions and low-value purchases; ATMs were the main source of cash (72%), followed at a distance by cash withdrawals at Caja Vecina.