Raise the limit for withdrawing cash in stores

Customers will be able to withdraw cash up to $ 40,000 from May with debit cards -that is, 30% more than until now-, in stores that use Payway.The limit since last December was up to $ 30,000. To withdraw money in the participating stores, it is necessary for the customer to make a purchase with the card associated with the account. In this sense, cash withdrawals in stores (extracash) already represent 4.14% of the total volume of consumption with debit cards, according to the latest Prisma Medios de Pago index for the first quarter 2023. The customer makes two operations in one, buys and withdraws cash, simplifying their experience. The trade increases the sales volume as it offers more services and attracts customers without additional queues. In addition, it reduces risks and costs associated with cash handling, “said Lucas Gracia, Head of Product Payway.For its part, from Prisma they point out that the amount extracted is credited to the merchant’s account 24 business hours after presenting the operation. In addition, and that “the detail of the operations can be consulted in the daily and monthly settlements within the My Payway portal”. In that same portal, merchants can check the status of sales and collection dates, manage new services for their business, create and share payment links, generate interoperable QRs, among other functionalities. The participating businesses are:
– Farmacity
– YPF
-Carrefour
-Goitre
– McDonald’s
– The Anonymous
-Jumbo
– Axion, among others.

Original source in Spanish