In the year 2024

Value of withdrawals combined with purchases made through automatic payment terminals in the SIBS network in the Region increased by 8.9%

In 2024, the amounts associated with the two main operations of the SIBS network (withdrawals and purchases through automatic payment terminals), considered together, totalled 2 911.8 million euros, representing 2.7% of the national total and an increase of 8.9% compared to 2023 (+7.2% nationwide). This figure includes 2,236.2 million euros from operations carried out with national cards, which increased by 7.1% compared to the previous year (+7.0% in the country), and 675.5 million euros from transactions with international cards, representing an increase of 15.3% compared to 2023 (+8.1% nationwide).

Withdrawals totalled 750.7 million euros, of which 687.7 million euros were from domestic cards and 63.1 million euros from international cards, reflecting decreases of 0.6%, 0.3% and 3.9%, in the same order. In the country, the trend was similar, with drops of 1.4%, 1.5% and 0.7%, respectively.

Meanwhile, purchases through automatic payment terminals (APT) reached approximately 2 161.0 million euros, divided into 1 548.6 million euros with national cards and 612.5 million euros with international cards. Compared to 2023, the respective increases were 12.6%, 10.7% and 17.7%, respectively. At the national level, the changes were similarly positive, at 10.8%, 11.0% and 9.7%.

Payments totalled 188.6 million euros, reflecting a decline of 14.5% (-34.4% in the country).

By municipality, the data reveal that 1,785.0 million euros of withdrawals combined with purchases made through APT were transacted in Funchal, accounting for 61.3% of the Region's total (61.8% in 2023). At the other end of the spectrum, Porto Moniz recorded the lowest transaction volume, amounting to 24.1 million euros. In terms of year-on-year growth, Ribeira Brava experienced the largest increase (+15.0%), while Porto Santo registered the smallest growth (+6.4%). In Funchal, the increase was +8.1%.

Focusing on the 4^th quarter of 2024, withdrawals and purchases through APT together totalled 774.7 million euros, comprising 197.6 million euros in withdrawals and 577.2 million euros in purchases through APT. These represented year-on-year increases of 10.4%, 0.4%, and 14.3%, respectively.

Week of Black Friday saw year-on-year growth of 20.7% in the combined total of withdrawals and APT purchases

The detailed data allows for a more granular analysis of transaction volumes during the period from the first week of November to the end of the year, a peak shopping season.

In the 1^st week of the period under analysis (week 44, from October 28 to November 3), the withdrawals and purchases through APT amounted to 56.9 million euros, representing a 4.6% increase compared to the previous week and a 6.2% rise over the same week in the previous year. During Black Friday week (week 48, from 25 November to 1 December), the transaction volume reached €64.7 million, an increase of 13.8% from the previous week and 20.7% higher than the same week in 2023. In subsequent weeks, year-on-year increases continued: +8.9% in week 49 and +9.6% in week 50. The week before Christmas (week 51) recorded a peak of 70.0 million euros, representing a 12.6% increase from the previous week, although 0.5% lower than the same week in the previous year. Notably, in 2024, the highest transaction week was also the one preceding Christmas. Finally, in the week after Christmas (week 52), the transaction volume nearly returned to the levels of the first analysed week (week 44), totalling 54.5 million euros.

DREM updates the time series on the SIBS network operations

With the conclusion of 2024, DREM has updated the time series on SIBS network operations, with most data dating back to 1997. The updated information now includes data on operations, withdrawals, consultations, payments, APT purchases, and the number of terminals and ATMs.

For more information, please click on:

• Tables
• Time Series

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