Mexico | How does digitalization contribute to financial inclusion?

Summary

This note provides some elements to describe how digitalization (through the Internet) contributes to financial inclusion to access and use formal financial services (digital financial inclusion), focusing mainly on savings and credit products.

Key points

• Key points:
• There is an increase in the gap between the number of bank credit and debit cards, in 2016 the gap was 27.2 million and in 2024Q1 it was 158.5 million in favor of debit cards.
• In 7 years (2014 to 2021), Mexico went from 34.5% to 43.9% of adults (15+) who made or received digital payments, while Peru and Colombia went from 22.6% to 49.1% and 32.6% to 52.1%, respectively.
• In 2023, nearly 3 in 10 people who used the Internet did so to carry out banking transactions.

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