Increased use of electronic payments in Mexico increases the need for education and dissemination: Copayment

The increase in payment platforms and their use becomes relevant in Mexico, from 2014 to 2021, the number of Point of Sale Terminal (POS) installed by aggregators and non-bank acquirers increased 2,123%. Although the diffusion of these tools does not grow at the same rate as the contribution of financial technologies to financial inclusion, since challenges are identified in the less centralized areas of the country, said Pedro Gil, executive director of Copayment.

“We still need it, because we are all around the big cities, the moment we start to touch the base of the pyramid there we will have true financial inclusion, for now, we are very focused on big cities like the City of Mexico, Guadalajara and Monterrey, but the effort of financial inclusion for small and medium-sized companies in financial inclusion is just beginning”, said Gil.

Prior to the fifth forum Copaymentits organizers indicate that the search to open spaces for payment platforms increases their participation within the small and medium-sized business segment, so educating about their use becomes a fundamental part of digital transformation.

One of the segments where the digital transformation has had the greatest impact has been in small and medium-sized companies, in the Mexican market the extension of financial inclusion is part of it, it is perceived in these companies”, said Gil.

The impact of digital means of payment on SMEs is reflected in the extension of payment aggregators, whose municipal coverage is 90% and demographic coverage is almost 100%, in addition to the fact that the highest concentration of this type of device was mobile. , according to data from the Association of Payment Means Aggregators (Asamep).

The Asamep points out that there are 131 institutions under the classification of participants in what they group as “networks of relevant means of disposal”, of which 52 execute functions related to the acceptance of payments with cards, the provision of POS terminals, or platforms for process payments online.

Despite the extension and coverage of the platforms, Gil pointed out that it is still necessary to provide education regarding the operation of the entities involved and carry out

“The main challenge we face is that there is not enough knowledge of this digital transformation of payments, but we see the opportunities in cooperation within the ecosystem of payment methods,” explained Gil.

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