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Peru is the third country in the region with the highest number of mobile wallets

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Mobile wallets have become one of the fastest growing and most adopted tools among Peruvians in recent years. Almost one in five citizens of our country (19%) acknowledges having a mobile wallet today; a figure that places Peru among the three countries in the region with the highest possession of these, according to the Credicorp Financial Inclusion and Digitization Study.

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According to the study, the level of mobile wallet ownership registered in Peru exceeds that of regional peers such as Chile (15%), Bolivia (15%), Ecuador (9%) and Mexico (3%), and also the average registered among all the countries evaluated (11%). Thus, Peru is only behind Panama (33%) and Colombia (24%), who lead in this area in terms of adoption of this digital tool.

The marked distance with the regional leaders also reveals that, even with the significant progress in the adoption of this digital channel among Peruvians, there is still ample room to extend its benefits to the various population subgroups.

The greatest opportunities for growth are found in the low socioeconomic level (with only 7% of mobile wallet ownership), the inhabitants of rural areas (6%) and the age groups between 43 and 59 years old, and over 60 years old (7%).

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While the highest levels of penetration of this digital channel among Peruvians are located in the high socioeconomic level (45% ownership), urban residents (22%) and the age range of 18 to 25 years (37%) .

“Tools such as mobile wallets are a powerful and effective ally on the path of digitization, because they allow us to arrive faster, be closer and make life simpler for our citizens. We have been able to see it up close with transformative experiences such as Yape, which has managed to include almost two million Peruvians in the financial system,” said Enrique Pasquel, manager of Corporate Affairs at Credicorp.

Most used channels to buy products or pay for services

In addition to the level of ownership of mobile wallets, the Credicorp and Ipsos study evaluated and compared their level of use for the payment of products and services with that of other digital channels.

According to the figures collected by the analysis, 12% of Peruvians use mobile wallets to buy products and pay for various services, which places the country again in the top 3 in the region, below Colombia (16%) and Panama (13%).

Although the figure registered by our nation is important and much higher than the regional average of 7%, the level of use of mobile wallets for the payment of products and services is still below the level of use of banking apps and the internet banking for this purpose.

According to the analysis, banking apps currently remain the most used channel to pay for products and services, both in Peru (18%) and in the region, with Chile (39%) and Ecuador (29%) leading the way. category.

The research also shows that Internet banking remains the second most used digital medium in the region to purchase products or pay for services, with an average of 17% reached among the countries evaluated by the study and 15% of registered use among Peruvians.

Panama (34%), Chile (33%), Ecuador (31%) and Colombia (17%) surpass Peru at the level of the use of this digital channel for the payment of products and services, while our country is only located by above Bolivia (13%) and Mexico (13%).

“For Credicorp, financial inclusion is one of the main engines for improving people’s quality of life and accelerating the changes that our countries need. For this reason, we will continue promoting digitization that allows us to build an agile and innovative relationship with more and more users in the industry, accelerate the progress of financial inclusion and, thus, the development of our country”, concluded Pasquel.

Source: Larepublica

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