In the third quarter of 2023

Aggregate of withdrawals and purchases made through automatic payment terminals in the SIBS network increased by 11.0% year-on-year

Data provided by the Interbank Services Society (SIBS) for the Autonomous Region of Madeira (ARM) for the third quarter of 2023 show that the combined amounts for the two main operations of the SIBS network (withdrawals and purchases through automatic payment terminals) amounted to 726.5 million euros, representing an 11.0% increase compared to the same period last year. This growth was primarily driven by a 15.2% increase in purchases through automatic payment terminals (APT), although withdrawals also increased by 1.0% on a year-on-year basis.

It is noteworthy that the overall increase mentioned above was due to the increase in the amounts processed with both international cards (+18.9%) and national cards (+8.6%).

As for payments, they totalled 54.1 million euros, an increase of 7.5% compared to the same period last year. Breaking down withdrawals into national and international, the former amounted to 177.3 million euros in the third quarter of the current year, growing by 1.7% compared to the same period last year, while the latter amounted to 19.5 million euros, showing a year-on-year reduction of 5.2%.

On the other hand, purchases made through APT with national cards amounted to 369.5 million euros (+12.3% compared to the third quarter of 2022), while purchases made with international cards amounted to 160.2 million euros (+22.6% compared to the same period last year).

The analysis of the aggregated data of withdrawals and purchases through automatic payment terminals by municipality shows that in Funchal, 438.5 million euros were processed, accounting for 60.4% of the total in the region. On the opposite end, Porto Moniz had the lowest transaction volume, totalling 7.0 million euros. However, Porto Moniz presented the second-highest year-on-year change (+24.0%), in contrast to Câmara de Lobos, which had the lowest change (+7.4%).

Analysing the first nine months of 2023, it is evident that in the ARM, the aggregated withdrawals added to purchases through APT amounted to 2.0 billion euros, showing a year-on-year growth of 14.0%, more pronounced in international cards (+24.9%) than in national cards (+11.1%). The withdrawals component registered an increase of 3.6% compared to the same period last year, while purchases through APT increased by 18.6%. During this period, there were increases in all municipalities. Porto Moniz led the increases, with a growth of 29.6% in the aggregate under analysis. In Funchal, which accounted for 61.5% of withdrawals added to purchases through APT, the change was +13.5%.

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