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HomeENTERTAINMENT15% of Colombians launched virtual payments thanks to the pandemic • ENTER.CO

15% of Colombians launched virtual payments thanks to the pandemic • ENTER.CO

In a period of 10 years, Colombia has made progress in bringing banking products and solutions closer to populations located in areas of difficult access and with limited technological knowledge. This decentralization, which still has important challenges to solve in terms of inclusion and payment culture through financial means in the country, has meant that, in a decade, the percentage of banked adults has gone from 30.43% to 60% in 2021, according to the most recent figures provided by the World Bank.

In the last report that the entity published, called The Global Findex Database 2021, 123 countries and the responses of 125,000 adults were taken into account, who showed that the pandemic was a determining cause so that, in countries like Colombia, banking could boost itself and reach a greater number of the population thanks to virtuality.

According to the World Bank, in the context of the Covid-19 crisis, despite the fact that at least 16 million people continued to carry out cash transactions, in low- and middle-income countries, more than 40% of adults who today make virtual payments with a card, they did so for the first time in the pandemic. In the case of Colombia, the report revealed that the percentage of banked adults who used the Internet for the first time to make transfers was 15%.

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The above scenario means that Colombia has a whole path at its disposal to leverage itself in virtuality and bring financial solutions to more citizens: an objective that is also shared by part of the private sector and that has caused, both in the country and in Latin America , the fintech sector is growing.

From this point of view, technological innovation is a fundamental ally in the banking process, since the procedures carried out through Internet platforms translate into low costs, flexibility in the requirements and agility in the service: characteristics that, in addition to continuing to provide controls against phenomena such as tax evasion and smuggling promotes social inclusion in the Colombian financial system.

Images: Archive

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