Peru stands out with 64% of young people aged 18 to 35 who use their smartphones to make payments or see the balance in their bank account, Mastercard reported.

This figure is an average of 81% of young people who say they have made financial transactions from their smartphone at least once in the last month and 44% of Peruvian users who said they were frequent.

It should be noted that 64% of the use of bank apps in Peru exceeds the figure in Colombia (58%), Brazil (38%) and Argentina (29%).

This does not necessarily mean that Peruvians are making transactions because they may be entering only to verify their balance.

Gianfranco Polastri, general manager of Mastercard for Peru and Colombia.

On the other hand, there is a segment of only 5% of young Peruvians who say that they never made a payment for bank apps and did not know they could do it.

“Young people highlight the possibility of seeing their balance live, they like the practical, but there are security issues that are important because if they steal your cell phone they have access to all their accounts,” Polastri warned.

Regarding barriers, 22% of young people would avoid banking applications for fear of the security of mobile payments, according to Mastercard.

Likewise, 46% said they would be discouraged because there are not many stores that accept mobile payments