They expect a 20% increase in credit cards

After the sharp fall in the use of credit cards due to the economic impact of the Govt-19 epidemic, people have started using these payment methods to make their purchases, and an increase is expected by the end of 2021.

Rodrigo Curie, general director of the Consumer Bank at CitipanMex, said billing growth with credit cards is expected to reach 20% by the end of this year, where key segments such as entertainment, travel and high e-commerce have led to a resurgence of plastic use in the country.

According to CitipanMex, the timing of credit card cancellations has been greatly reduced due to non-payment issues, which has promised to gain more traction among financial service users in Mexico over the next few months.

“After the epidemic, what we see is that the bubble or unpaid peak is left behind, and the volunteer is doing very well. There are fewer and fewer customers who talk to us to cancel their cards: this last type of cancellation has been reduced, ”explained Antonio Bertomo, director of Citipanmex Cards.

Data from the National Bank and Securities and Exchange Commission (CNPV) shows that credit card usage declined by 12% at the end of last April compared to the same month in 2020, according to a health coincidence provided by Govt.

Yesterday, CitipanMex issued new credit cards with high security measures that seek to impress the public with an income of at least 7 thousand pesos, and it has a good record in the credit bureau.

For her part, Laura Cruz, director of MasterCard in Mexico, said the Covit-19 epidemic has accelerated the use of digital methods in the country due to prison conditions maintained in certain customer segments and e-commerce.

“Acceptance of digital media in these epidemics has accelerated, and we have seen a need that has led consumers to use digital payment methods. About 42% of users have already made online transactions, not as before, and finally made transactions in the global fire world,” the order explained.

Adoption is here to stay because there are more convenient and safer solutions. “We do not see a setback in digital adoption, it will continue to grow, mostly at the rate of last year,” he stressed.