Sep 15 2021
Now 12, the program promoted by the Argentine state government to make purchases in installments within different categories, registered during the first 15 days of August a record increase of 33% year-on-year in its operations, for a total of 45 billion pesos ( about $ 458 million).
This was reported by the Secretary of Internal Trade, Paula Español, in charge of the initiative. In addition, he explained that he is in talks with banks to increase the limits of credit cards for this line of financing.
According to Spanish, the increase responds in part to the latest update of the program, in which new financing plans were added in 24 and 30 fixed installments with credit cards, which “generated a positive reaction from consumers” .
In the first seven months of 2021, the increase in the turnover of Now 12 was 59% year-on-year and the growth of operations was 24%.
One of the great novelties of the last renewal of the program, in August of this year, was that the payment in 12 installments for products within the categories of Clothing and Footwear returned, a return that had been requested by merchants in the sector and associations such as the Argentine Confederation of Medium Enterprises (CAME) or the Argentine Chamber of Commerce and Services (CAC), in order to “encourage and sustain sales within the framework of a marked decline in activity” as a result of the coronavirus pandemic .
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