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Santo Domingo.- Dominican Republic’s online sales topped US$737.3 million in 2011, a growth of 46% compared with 2010, says a study cited by Carolina Forero, Visa E-Marketing  director for Latin America and the Caribbean.

She said the country’s online sales are expected to reach US$972.3 million by 2012, a 31.8% jump between 2011 and 2012, based on the International Monetary Fund’s (IMF) GDP growth projections and its correlation with the growth of e-trade.

According to the e-trade study in Latin America commissioned by Visa, the country’s online sales will reach US$1.15 billion by 2013, climbing 18.3% between 2012 and 2013.

Interviewed by hoy.com.do, Forero said the growth results from increased access to digital payments media such as credit cards, which have contributed to the growth of online shopping.

She said local authorities together with national banks spur the relaxation of banking regulations so that more people can use the service. She said Visa supports the use of debit cards for online payments.

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COMMENTS
10 comment(s)
Written by: JDJones, 19 Jun 2012 10:53 AM
From: Dominican Republic
They still don't realize they have to pay the bills at some point. One of my employees likes to say, "whenever I have some money, I pay some against my bill." He does not have a clue about finance charges, monthly payments, late charges, etc.
He can't understand why they keep calling work and bugging him.
Written by: cheyenneasanti, 19 Jun 2012 11:17 AM
From: United States
This is not a good thing for the average person.
Basically it is a trap that many people fall into.
There is a reason, millions of people cut up their credit cards.
And now they only buy what they can afford or need.
Beware people this is a dangerous financial trap.
Written by: dreadlocks, 19 Jun 2012 11:30 AM
From: United States
the article is misleading. it suggests SALES, but, apparently, should indicate PURCHASES. there is a difference.
Written by: JDJones, 19 Jun 2012 11:40 AM
From: Dominican Republic
We won't even go into the interest rates on Credit Cards here. The rates here are illegal in the states.

They are really pushing hard to sign up new customers. Go in any local supermarket in the city, and you'll find armies of girls trying to sign new customers up.

In Jumbo Luperon, there is never less than 10-12 girls approaching customers, while one girl could probably cover the whole store.
Written by: bernies, 19 Jun 2012 12:47 PM
From: United States, key west fl
A credit card is a good and safe way to purchase things online and pay your bills. I am a credit card holder and I somtime expend over 50.000 pesos but I always pay the balance in full. In 9 years with my visa credit card I only missed one full payment and it because it were less than 300 pesos which I can honestly say that I forgot to pay it.
Written by: bernies, 19 Jun 2012 12:49 PM
From: United States, key west fl
Also by having a credit as long as you can manage it well, it helps increase your credit rating when the time comes to purchase a smal plot to build a house and it also save you from having to carrie all that cash when you go, just make sure that you have the money in the bank to pay it back on time, like they say why use my money when I can use other people money and then pay it back later, 50 days to be more precise.
Written by: JDJones, 19 Jun 2012 12:51 PM
From: Dominican Republic
Bernies,

That's because you understand how CC's work, and how to utilize them to your best advantage.

That is a skill set that is severely lacking in the majority of CC holders here.
Written by: PuntaCanaMike, 19 Jun 2012 2:45 PM
From: Dominican Republic
How much of that increase is for offshore purchases? That is not good for the economy. Most friends I have, now have offshore mailboxes and purchase in the US, having it shipped here.
Written by: BGFEMA, 19 Jun 2012 6:40 PM
From: United States
Forget about getting a credit card unless you can pay if off within 30 days without the charges. I only use one when I have an emergency, a car repair and I pay it off right away. Credit cards are for rich people.
Written by: stillhere, 19 Jun 2012 7:35 PM
From: Dominican Republic

Credit cards are for rich people. But sold to the people wanting to think they are..

Good question Mike...
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