Crédito en un clic, deuda en alza: la morosidad crece entre los usuarios de billeteras virtuales y alcanza casi el 30%

The rise in delinquency among users of virtual wallets has reached nearly 30%, according to recent data. The ease with which individuals can access loans through digital platforms has led to a sharp increase in outstanding debt, with over five million Argentinians now facing payment difficulties. This trend marks a significant shift in financial behavior, driven by the rapid expansion of credit services accessible via mobile applications and online platforms. According to the Center for Argentine Political Economy (CEPA), the rate of overdue payments among families using virtual wallets rose from 7.3% in November 2024 to 29.6% in May 2026. Approximately 4.5 million people are currently in irregular situations, and when including bank loans, the total number of individuals with unpaid balances reaches 5.8 million. These figures indicate a growing concern within the financial sector regarding the sustainability of current lending practices. The situation has worsened beyond digital platforms, with the Institute of Large Argentina (IAG) reporting that the highest levels of default were observed in appliance chains. In these cases, one out of every two pesos borrowed for purchases remains unpaid, resulting in a 50% irregularity rate. This level exceeds that recorded in fintech companies and traditional banks. Additionally, the average annual nominal interest rate (TNA) for these credits stood at 137% in February, the last month for which data was published by the Central Bank, while inflation remained around 30%. While the expansion of digital credit has enabled millions who previously had limited access to financial services to obtain loans, the decline in repayment capacity has become evident, particularly among those relying on personal loans and consumer financing. This pattern highlights the increasing risk associated with easy credit access, especially in a context of economic uncertainty. Mercado Pago, one of the leading digital wallet providers, stated its goal is to expand access to financing through a fully digital system. The company offers pre-approved lines for individuals aged 18 and above, utilizing more than 3,000 variables updated in real time to determine available limits and interest rates based on each user’s profile. Those without a history within the platform receive an initial reduced line starting from approximately $5,800, while those demonstrating good payment behavior automatically gain better financing conditions. The company maintains constant communication with users experiencing delays and provides alternatives to help them regularize their debts. Despite these efforts, data from CEPA shows that the deterioration of digital credit has progressed faster than in the traditional banking system. The current levels of delinquency among families have no comparable precedents since the early years of the century. For virtual wallets specifically, the 29.6% figure recorded in May represents the highest level since such statistics began being tracked. The study also identified that the issue has disproportionately affected younger demographics. Among those aged 20 to 24, 41.1% showed irregularities in virtual wallets, while the percentage climbed to 37.6% for those aged 18 to 19. These findings underscore the challenges faced by this demographic in managing their financial obligations.