Mobile banking operations have doubled during the pandemic

Banking operations carried out through cell phones have practically doubled during the Covid-19 pandemic, both in deposit and withdrawal transactions.

Figures from the National Banking and Securities Commission (CNBV) reveal that during March 2020 (start of the contingency in Mexico), 31.7 million deposit operations and 47.7 million withdrawals were carried out through this channel, in September of this year the figure rose 65.6 million and 104.5 million respectively.

This is due to the fact that the number of bank clients that use the cell phone to carry out transactions has grown during the pandemic.

In March 2020, according to information from the CNBV itself, there were 5.6 million users making deposit transactions and in September 2021 the figure reached 8.7 million; while in retirement it went from 9 million to 13.5 million users.

In this way, the amount transacted in bank deposits by cell phone reached 204,920 million pesos in September 2021, and 312,165 million for withdrawal.

On the other hand, the information from the CNBV indicates that Internet deposit operations (different from those carried out by cell phones) also grew, going from 41.7 million in March 2020 to 52 million in September 2021; while those of retirement went from 65.6 million to 85.8 million.

However, in these items the amounts are higher, since in deposits it amounted to 10.3 billion pesos last September and 18.6 billion in withdrawals in the same month.

In POS, also important growth

Another channel that has registered significant growth in banking operations over the last year and a half is Point of Sale Terminals (POS).

The information from the financial institution specifies that during March 2020, in terms of deposits, 4.8 million were made and in September of this year they had increased to 5.6 million, while in terms of withdrawals, they went from 194.4 million to 272.7 million .

In ATMs and branches, a high level of operation prevails

Although at the beginning of the pandemic the number of banking operations in branches and ATMs was limited, a high level of transactions prevails. Only in April and May, there was a drop in operations through these channels.

According to the CNBV, deposit operations in ATMs in March 2020 were 9.3 million and in September 2021 they rose to 11 million; while those for retirement were 147.8 million and 149.8 million, respectively. This implies that the so-called ATMs are the main channel for making withdrawals.

Regarding the branches, 63.5 million deposit operations were carried out in March 2020 and 80.4 million in September 2021 (already with a total opening of the economy and almost all of the bank branches open); and retirement 68.9 million and 72.4 million respectively.

However, according to the information, the number of clients in branches fell from 13.5 million to 12.1 million in deposit; and from 15.2 million to 13.1 million in retirement.

[email protected]



Reference-www.eleconomista.com.mx

Leave a Comment