When it comes to a credit card, the story is no different, because although the use increases to 28 times a year, Mexico is widely surpassed by the Dominican Republic, with 41 payments at points of sale, and Costa Rica with 61 times.
Indra’s report notes that although there is a tendency to lower use of cash, it still deals in nine out of 10 transactions.
Mexico seeks to reduce the use of cash to increase fiscal formality, combat money laundering and improve security in transactions, through initiatives such as Digital Collection (CoDi), promoted by the Bank of Mexico, which will come into force at the end of this month.
This scheme allows payments and collections by reading QR codes, through applications for mobile devices of banks that have a presence in the country.
According to the report prepared by Indra, payment through QR codes, as well as the use of electronic wallets will be the instruments that will have the greatest growth in the short term.
The study details that in addition to using little plastics, the amount of purchases is also low compared to other nations in Latin America.
Payments with debit cards in Mexico reached an average of 520 pesos.
Source: El Sol de Mexico