89% of adolescents already wear virtual wallets. The cash was left behind, but the lack of financial education generates new risks.
The cell phone became the main financial tool of adolescents.
In just two years, the use of Virtual wallet Among Argentine teenagers went from 51% to 89%. A deep transformation that left the cash behind and put the youngest at the forefront of a Silent revolution in the way of handling money.
According to a recent report from the Torcuato Di Tella Universitythis mass adoption not only evidences a strong technological incorporation, but also a Reduction of financial exclusion. While just 17% of adolescents have a bank account, the majority It already operates with virtual walletswho became his First formal financial product.
Delivery payment market
These tools offer access to an economy that was previously foreign to them. Dividing a dinner with friends is no longer a problem, Instant transfers replaced discussions for change. And the QR codes are scanned with the same naturalness with which they open Instagram.
In addition, paying with virtual wallets allows access to important discounts and reimbursements in daily purchases such as supermarkets, public transport, fairs, delivery, fast food and recharges. These benefits can achieve up to a 50% In the first purchases of the month, 40% in popular markets or even total reimbursements in the use of transport, with weekly or monthly stops according to the item.
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Many promotions have specific days of the week and can be combined with bank offers or trade, which represents an opportunity concrete savings in the current inflationary context.
But not everything is positive. The use of digital money has collateral effects: Not seeing or touching tickets, teenagers tend to spend more impulsively. The money becomes abstract and the lack of control is a real risk.
Among the most serious dangers, the vulnerability to virtual scams, such as phishing or smashingtechnological dependence (without cell phone, battery or connection, access to money disappears), and privacy loss: each purchase leaves a Permanent digital record. Besides, just 28% of adolescents have solid knowledge about financewhich generates an alarming gap between the use of the tool and its understanding.
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Thus, while teenagers redefine the present of money, a key challenge is pending: accompany the technological advance with Financial Education
What are the benefits of the virtual wallet
- Access and inclusion: Digital wallets became their first financial tool.
- Autonomy: They allow them to manage their own money and make purchases or transfers without depending on adults.
- Easy vs. excess: The speed of the system can encourage impulsive spending and loss of notion of the value of money.
- Financial Education: Only 28% understand key concepts as debt or credit.
- Security and privacy: They are exposed to scams and each transaction leaves a permanent fingerprint.
- Discounts: In Argentina, virtual wallets offer reimbursements and discounts of up to 50% in daily purchases such as food, transport and recharges, with specific stops and days.
Source: Ambito
