The increase was fundamentally driven by the bankarization of people with a low educational level; for those who only finished primary school, the rate jumped from 33% to 79% in the last three years.
Likewise, although cash continued to be the most used means of payment in Argentina (94% claimed to use it with some frequency), a slight decline was observed compared to 2019. As a counterpart, a greater use of the rest of the means of payment was verified; Particularly noteworthy were the increases in the use of Mercado Pago (from 23% to 71%) and debit cards (from 50% to 82%).
At the age level, the report showed that young people had a greater relative use of cash and Mercado Pago, while as age progressed, a greater weight of cards, mainly debit cards, was noted.
Despite the greater use of banking, the data collected by Voices showed that 55% of those surveyed said they did not trust the banking institutions that operate in Argentina. However, there was an improvement over the past.
For their part, mobile payment apps had much higher levels of trust than traditional banks, reaching 66%. According to the consultant, this was due to the “greater perceived accompaniment, during the pandemic.”
Over the last two years, Voices has carried out different investigations that show how the pandemic scenario impacted multiple dimensions of individuals’ lives, including work habits, education, mood, social relationships, mental health and fitness, healthy habits, perception of companies, etc.
Source: Ambito
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