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Rapyd is Busting Payment Myths with Business Insider Mexico

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The myths of digital payments.

According to a study carried out by the global payments fintech Rapyd , although cash is still a very important player (40% preferred), digital payment methods increased their use in Mexico.

These are the myths that Rapyd considers that still persist about the means of payment:

1. You require an account to make digital payments

72% of those surveyed believe that it is necessary to have a bank account to be able to use digital means of payment and 5% are not sure. Only 23% had the correct answer: it is not necessary to be banked to use digital means of payment.

How can you make payments without an account? Electronic wallets are a way to make your transactions without the need for an account.

2. Digital payments are more expensive

25% of those surveyed still believe that paying through a digital payment method is more expensive than doing it with cash.

3. It’s complicated for business

25% of respondents believe that implementing digital payments is still slow and difficult for businesses .

4. Delay purchases

25% of those surveyed still believe that using a digital payment can delay their purchase.

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