Mobile wallets are increasingly present in the daily operations carried out by Peruvian consumers. So, according to the Credicorp Financial Inclusion and Digitization Studyprepared by Ipsos in eight countries of the region (Peru, Argentina, Bolivia, Chile, Colombia, Ecuador, Mexico and Panama), currently 26% of citizens have a digital wallet.
In other words, today 1 in 3 Peruvians have a wallet, a figure that almost doubles that reported in 2021, when only 11% had this means of payment. Peru appears, along with Colombia and Panama, as the countries where the use of this channel increased the most, which is why internet banking or applications from banking entities were replaced.
The analysis defines three levels of financial digitization determined on the basis of the frequency of use of digital financial platforms (mobile wallets, banking apps and internet banking) and the use of these, both in the payment of products and services and in the realization of financial transfers.
Meanwhile he non-digital user is the one who still does not use the platforms to carry out transactions, the casual user is the one who uses them less than once a month and the heavy user It is who uses them one or more times a month to complete their transactions. Thus, although Peru registers a high level of users yet to be digitized, it also shows a relevant percentage of intensive users (30%, which is higher than the global average) and a reduced group of occasional users (9%).
“It is key to understand that digitization allows people to improve the way they manage within the financial system, whether it is to receive their salaries, send money, pay for goods and services, and other procedures in an easier and safer way. While there is an evident change in consumer behavior, there is still an opportunity to continue driving financial inclusion across the country. ”, indicated Enrique Pasquel, manager of Credicorp’s Corporate Affairs Division.
Regional findings
The Credicorp and Ipsos study also shows that in the region the use of applications from financial institutions is reduced compared to the use of mobile wallets. These are positioned as the second most used digital medium when making transactions.
Likewise, it is seen that the use of digital products or services increases among entrepreneurs and that it is people between the ages of 18 and 42 who have the most mobile wallets in the region. Similarly, it should be noted that dependent workers represent the group with the highest proportion of intensive users (43%), followed by students (38%) and independent workers (28%).
Along these lines, only 16% of the participants use an application from financial institutions (mobile banking) to pay for products and services. Chile (29%) is the country with the highest proportion of users of this channel, while Peru (12%) and Bolivia (10%) report the lowest level of use.
Source: Larepublica
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