INDUSTRY WATCH
IN THE CASE OF COLOMBIA , IT HAS MADE IMPORTANT PROGRESS IN TERMS OF FINANCIAL INCLUSION .
In the case of Colombia , it has made important progress in terms of financial inclusion . An example of this is the increase in access to financial products which rose to 87 %, according to Banca de las Oportunidades .
This coincides with what was found in the Mercado Pago and Trendsity study , in which progress was also observed regarding the use of digital payments .
According to the indicator of access to digital collection tools by sellers , the country showed one of the highest adoption rates of this technology in the entire region with 40 % of those surveyed and was only surpassed by Argentina . Among the sellers consulted , 91 % said that the use of these tools allowed them to reach more customers during the pandemic .
In this scenario , Argentina was the one that showed the most dynamism in terms of acceleration of digitization : 50 % of vendors consulted for the report said they incorporated digital collection tools during the pandemic , while Brazil , Chile and Mexico reached 32 %.
At the user level , 30 % of those surveyed acknowledged having started using digital payment tools ( compared to a 24 % average for the region ), among which the unbanked population segments , youth and women stood out .
Since last year , with the isolation caused by the COVID-19 pandemic , technology began to accelerate access to financial tools in Latin America . According to a study carried out by Mercado Pago and Trendsity , one in four users of digital wallets in the region adopted them during confinement , and more than half of the users developed a greater interest in savings and investment tools .
The objective of the research is to understand the current state of financial education and analyze the challenges that exist in this regard , to achieve inclusion of the majority of the population to the financial system .
Regarding financial education , Argentina leads the region ’ s ranking together with Chile : 34 % of wallet users were able to correctly answer three out of four questions about financial literacy versus 30 % in the rest of the region .
Digital wallets
Likewise , 86 % of Colombians who use digital wallets stated that the pandemic enhanced digitization , while 68 % of non-wallet users recognized this transformation . In fact , digital wallets act as drivers for the entry of people to the financial system and help users to acquire new knowledge in this area . 30 % of the users of these technologies answered more
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