2024-03-28 14:26:32
Ecuadorian women surpass men in the adoption of digital payment methods. This, according to the results of ‘Lost in Transaction’, a survey conducted by Paysafe, a global company dedicated to payment solutions.
The study, which analyzed the payment habits of 500 men and women in Ecuador, reveals a significant increase in the adoption of digital payments, as well as emerging trends in the use of online financial services.
According to the survey, Ecuadorian women surpass men in the adoption of digital payment methods. 40% of women surveyed reported increased use of digital wallets compared to the previous year, compared to 30% of men. Additionally, 62% of women maintain or increase their use of electronic money, while installment payment plans have seen a decline in popularity among them, with 57% using these services less frequently than a year ago.
The Deloitte study, “Disruption for Inclusion,” suggests that only 45% of Latin Americans had made an online transaction before the pandemic, but that figure has since increased to 83%. In line with this, women were seen taking an active approach to their finances, with 72% concerned about investing to achieve their long-term financial goals. This interest in investing reflects a search for financial independence and the appreciation of options that promote freedom and autonomy.
The research “Economic empowerment of women and their financial inclusion” by Visionarias, a digital medium to make business women in Latin America visible, highlights the importance of offering accessible and personalized financial options for women. Their data shows that women value flexibility and adaptability in financial services, allowing them to manage their finances effectively and make informed decisions.
“One of the most notable findings of the Paysafe study is that almost half (43%) of online payments made by women in Ecuador during 2023 were digital. Digital wallets are used by 1 in 5 women surveyed,” explains Gustavo Ruiz Moya, president of Paysafe for Latin America.
“This trend reflects growing confidence in electronic payments and greater comfort with online financial transactions,” he concludes.
Regarding the most popular online services among Ecuadorian women, the study reveals a variety of preferences, including payments in general (65%), e-commerce (42%) and leisure/travel (32%). Although traditional payment methods have traditionally been relied on for these services, such as credit or debit cards, more and more women are opting for digital options, especially for activities such as purchasing cryptocurrencies, betting and gaming.
Another relevant finding is the growing interest in cryptocurrencies among women in Ecuador. 30% of those surveyed showed willingness to adopt crypto currencies as a payment option if their use becomes widespread. This attitude reflects a willingness to explore alternative financial avenues and adapt to emerging trends in the digital market.
Although the survey reveals a trend towards digital payments among women, it points to the need for greater financial education and access to inclusive financial services to ensure that everyone can benefit from the opportunities of the digital world.
Since the acceleration of the Fintech ecosystem, millions of people in Ecuador and Latin America have been able to count on new tools such as digital wallets and various payment methods, managing to create an upward trend in relation to the levels of financial inclusion in the country, for example. That is why it is essential to support and accompany women on their journey towards financial independence, offering safe and accessible solutions that allow them to take control of their finances and achieve their economic goals.
By: KCH