INDUSTRY WATCH
questions on financial topics , compared to 16 % of consumers who do not use them .
Regarding financial education , 87 % of respondents in the country agreed that more education and information is needed to accompany the growth of digital financial services . In fact , 57 % of Colombians stated that they learn about digital financial tools from family , friends and colleagues , but not through formal channels .
Included among the topics people most want to learn about are saving and investing , digital payments and security .
In terms of the gender gap , 32 % of men showed financial knowledge , while in the case of women , the rate was 27 %. Colombia was the country with the smallest percentage difference with only five points , while the regional average was nine points .
ABOUT MERCADO PAGO
Mercado Pago is a digital wallet service from Mercado Livre . It is available on both computer and cell phones including Android and iPhone . When used it is possible to make payments for online or physical purchases , as well as manage transactions related to e-commerce systems that use the online sales platform .
WE MUST CLOSE THE GAP IN THE LEVEL OF FINANCIAL EDUCATION BETWEEN USERS AND NON-USERS OF DIGITAL WALLETS .
Banking
Diego Navarro , Director , Mercado Pago Colombia , said : “ In the case of Colombia , from Mercado Pago we saw an increase in the level of banking with users showing greater knowledge of financial terminology . Nevertheless , we must close the gap in the level of financial education between users and non-users of digital wallets .
“ In Colombia , fintech can contribute to the financial education of those who cannot access the traditional financial system , so we will continue working to democratize digital solutions through innovation , technology and tools for consumers .”
Latin America is aligned with the global financial literacy index prepared by Standard & Poor ’ s , which indicates that only 33 % of people globally can answer at least three out of four questions about financial literacy with only 38 % holding bank accounts . In European and North American countries , on the other hand , the percentage of adults reaches 50 % and 57 % when it comes to bank account holders . p
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