Published on Monday, May 22, 2023

Mexico | Mobile banking and the challenges in digital financial inclusion

There are challenges in telecommunications infrastructure and financial education for mobile banking to have a greater influence on the access and use of financial services.

Key points

  • Key points:
  • In the last decade, progress has been made in infrastructure at national level, it is estimated that in 2021 there were about 87 lines of mobile Internet access service for every 100 inhabitants.
  • In 2022, while some entities average over 71 mobile banking contracts per 100 inhabitants, in others the average was below 50 contracts.
  • The population between 30 and 39 years of age was the one that made the greatest use of mobile banking with 37.8% of the total in that age range and with mobile Internet access in 2023, while in ages 50 to 59 the percentage was of 25.3%.
  • In the population aged 25 and over with a smartphone and internet access, those with up to a bachelor's degree had the highest use of mobile banking with six out of 10 people in this group.
  • The effort implies that the financial system continues to promote the expansion and development of these technologies while diverse sectors continue to promote the coverage of telecommunications infrastructure, and training in financial education issues.

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